OPC Revenue Nearly Doubles as Q2 Profit Climbs to $15 Million

Kenon Holdings said OPC Energy’s second-quarter revenue rose to $379 million from $196 million a year earlier, while net profit climbed to $15 million from $1 million. Revenue in Israel increased to $203 million from $153 million, and U.S. revenue reached $176 million from $43 million, chiefly reflecting the first-time consolidation of the Shore and Maryland plants. Adjusted EBITDA, including OPC’s share of associates, rose to $131 million from $90 million. Kenon said it held about 46% of OPC, whose unrestricted cash stood at $1.261 billion and consolidated debt at $2.977 billion on June 30.