#Israel #Tel Aviv #OPC Energy #Bank Leumi #Hadera Expansion

OPC Energy Secures Financing for the Hadera Expansion Project

Tel Aviv, Israel, June 3, 2026 — OPC Energy Ltd. (TASE: OPCE), a major independent electricity producer in both Israel and the U.S., has officially announced its financing agreement with Bank Leumi, a significant step for the company as it progresses with its ambitious Hadera Expansion Project. This development is a part of the company's overarching strategy to enhance its production capabilities and support sustainable energy solutions.

The financing arrangement aims to cover approximately 80% of the estimated $1.7 - $1.8 billion construction costs for the Hadera Expansion. In practical terms, this financing is expected to play a crucial role in the execution of the project, significantly moving the company closer to financial closure and the start of construction activities.

The terms of the loan dictate that Bank Leumi will provide financial support over a 6-10 year term, with an interest rate attached that is based on the Prime rate plus a margin that could range from 0% to 0.7%—this will depend on the specific loan term. Importantly, principal repayments are set to commence six years post the initial drawdown of funds.

In tandem with this financing agreement, OPC Energy has also finalized an EPC (Engineering, Procurement, and Construction) agreement with Solel Boneh, one of the prominent construction firms in Israel with a rich history in infrastructure development. This collaboration will ensure that the project is executed with the highest standards, combining local expertise with international experience. OPC has partnered with a reputable global contractor who brings substantial knowledge in building complex infrastructure, including advanced natural gas power plants.

Giora Almogi, CEO of OPC Energy, emphasized the importance of this advancement, stating, “Securing this financing and collaboration reflects our commitment to developing an efficient power station at Hadera, one that can generate approximately 850 megawatts of capacity. This facility will not only enhance our operational efficiency but will also be a cornerstone of Israel’s electricity infrastructure.” His comments highlight the long-standing partnership between OPC and Bank Leumi, which continues to bolster the company’s initiatives across both Israel and the United States.

Liat Shuv, the Head of the Business Division at Bank Leumi, acknowledged the importance of financing national infrastructure projects, emphasizing their significance in the broader context of economic growth and energy independence for Israel. She stated, “This financing not just supports OPC but also aligns with the national interest, contributing to the stability of Israel’s energy landscape.”

As part of this strategic initiative, OPC Energy has also engaged in agreements with GE Vernova for the delivery of key equipment and ongoing maintenance services. These arrangements indicate OPC's holistic approach to managing the life cycle of its energy assets while ensuring reliable service delivery.

The Hadera Expansion Project involves the development of a state-of-the-art combined cycle natural gas-fired power plant located adjacent to the existing Hadera facility. With the anticipated completion, the new plant will be a vital contributor to Israel's energy market, operating under the System Marginal Price (SMP) framework alongside availability payments from the System Operator over a period of 25 years.

About OPC Energy
OPC Energy Ltd. (TASE: OPCE) stands at the forefront of energy production in Israel, leveraging both renewable and traditional energy sources. The company aims to provide sustainable electricity through innovations in technology and infrastructure while expanding its presence in the green energy sector. In the US, OPC operates through the CPV Group, which has a successful history of developing clean, efficient energy projects.

With the Hadera Expansion on the horizon, OPC Energy is poised to strengthen its position in the competitive energy landscape, illustrating its commitment to meeting the evolving energy demands both locally and internationally. For further information, visit www.opc-energy.com/en.