It notes its holding in CPV may be around 70%, with plans to bring in a number of institutional investors from the Israeli capital market as partners in the deal.
CPV has a total installed capacity of around 14,800MW, out of which 4,850MW are wind farms. It has also accumulated new projects with around 6,200MW of capacity, out of which 2,245MW are renewable energy projects.
It also has four natural gas projects at various stages of development, with a combined capacity of 3,955MW.
Giora Almogi, CEO of
"There is growing momentum for increased development of renewable energy and a focus on a lower carbon approach to electricity supply. In parallel, the trends continue with a modernisation of the grid with coal and uneconomic nuclear assets being retired and the construction of efficient, highly flexible natural gas power plants for economic and environmental reasons.
"The acquisition, when completed, CPV will become OPC's investment and expansion platform in
The deal is subject to a number of approvals and to the completion of the negotiation process between the two companies.
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