OPC Energy Ltd. (TASE: OPCE): CPV Group Announces Closing of Agreement for Full Ownership of Maryland Power Plant

TEL AVIV, Israel, May 13, 2026 /PRNewswire/ -- OPC Energy Ltd. (TASE: OPCE) ("OPC" or the "Company") today announced the completion of the previously disclosed asset swap transaction involving the CPV Maryland power plant.

Further to the Company's disclosures dated March 3, 2026, and the information included in the Company's 2025 Annual Report published on March 12, 2026, CPV Group LP ("CPV Group"), in which OPC indirectly holds approximately 70%, has completed the transaction with its partner that previously held a 25% interest in the CPV Maryland power plant (the "Partner").

Under the terms of the transaction, CPV Group acquired the Partner's remaining 25% interest in the CPV Maryland power plant in exchange for transferring its 10% interest in the CPV Three Rivers power plant, together with an immaterial cash consideration.

Following completion of the transaction, CPV Group acquired full ownership of the CPV Maryland power plant and no longer retains an ownership interest in the CPV Three Rivers facility.

As previously disclosed, beginning from the closing date, the CPV Maryland power plant will be fully consolidated in CPV Group's financial statements and, accordingly, in OPC's financial statements.

Based on the Company's current assessment of the applicable accounting treatment, the acquisition of the remaining interest in CPV Maryland is expected to be accounted for as an asset acquisition. Accordingly, no remeasurement gain is expected to be recognized upon the transition from equity method accounting to the full consolidation of CPV Maryland. However, amounts currently included in Other Comprehensive Income (OCI) related to CPV Maryland, primarily associated with hedge accounting for energy margins and interest rates, are expected to be reclassified to the statement of income upon closing. As of the date of this announcement, such amount is estimated at a loss of approximately $28 million.

In addition, as a result of the disposition of the CPV Three Rivers interest, CPV Group expects to recognize an estimated after-tax capital gain of approximately $7 million, subject to customary closing and post-closing adjustments.

The accounting and tax implications described above are based on the Company's current estimates and remain subject to the completion of the Company's review process and the review of the Company's independent auditors.

This release constitutes an unofficial English translation for convenience purposes only. The complete and binding report is the official Hebrew report published by the Company on the Tel Aviv Stock Exchange website. In case of any discrepancy, the official Hebrew report in Hebrew shall prevail.

About OPC Energy

OPC Energy Ltd. (TASE: OPCE) is a leading energy company operating in the Energy Transition space in Israel and the U.S. and provides electricity in an efficient, reliable and environmentally friendly manner while combining highly efficient natural gas with solar, wind and storage.

In Israel, OPC is the first and leading private electricity producer, offering its customers an integrated solution by supplying all energy needs through the company's production sites and in the customer's yard. OPC continues to expand its generation portfolio and customer base in Israel, advancing a growing pipeline of renewable and natural gas projects to support the evolving needs of the Israeli electricity market.

In the U.S., the company operates through the CPV Group, which has over 25 years of success in the development and operation of highly efficient, low emission electric generation and renewable projects. CPV is focused on leveraging its extensive experience to advance its current portfolio of 15 GW of renewable and natural gas projects.

For more information, please visit: www.opc-energy.com/en.

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Company Contact:
Ana Berenstein Shvartsman, CFO, [email protected]
Yehonatan Mualem, Finance Manager & IR Manager, [email protected]

Investor Relations Contact:
Miri Segal, CEO, MS-IR LLC, [email protected]

SOURCE OPC Energy