OPC Energy Announces Receipt of Capacity Tariff Approval and Confirmation of Financial Close Conditions for Hadera Expansion Project

TEL AVIV, Israel, June 22, 2026 /PRNewswire/ -- OPC Energy Ltd. (TASE: OPCE), a leading independent power producer in Israel and the U.S., providing reliable and efficient electricity generation through natural gas and renewable energy, announced today that on June 18, 2026, it received capacity tariff approval from the Israeli Electricity Authority in accordance with the regulatory framework expected to apply to the Hadera Expansion project (Resolution No. 70804 dated March 24, 2025 regarding Regulation for Conventional Generation Units).

In addition, the Company received confirmation that the Hadera Expansion has satisfied the conditions required for financial close, effective as of the same date.

Under the approved regulatory framework, the project will be eligible for a capacity tariff for a period of approximately 25 years from the commercial operation date at a rate of 3.31 agorot, in addition to revenue from the sale of energy at the half-hourly System Marginal Price ("SMP").

The Hadera Expansion is a planned ~850 MW natural gas-fired combined cycle power plant located adjacent to the Company's existing Hadera facility. The project is expected to enhance the Company's generation capacity and support growing electricity demand under Israel's evolving energy market framework. The project's total construction cost is estimated at approximately $1.7–1.8 billion. Earlier this month, the Company announced a financing agreement with Bank Leumi under which senior debt is expected to cover approximately 80% of the project cost, as well as the signing of an EPC (Engineering, Procurement and Construction) agreement with a joint venture comprising an international EPC contractor and Solel Boneh, both of which have significant expertise and experience in executing large-scale infrastructure projects.

The Company views these approvals as an important milestone in advancing the Hadera Expansion project toward the commencement of construction and its successful completion.

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 & IR Manager [email protected]

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

SOURCE OPC Energy