Acquires control of CPV

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OPC Company Controlled by Idan Ofer, enters the US energy market in a huge deal: The company announced today (Wednesday) that it has signed a letter of intent to acquire control of the American company CPV.

The scope of the investment will be $ 700-800 million, with part of it also intended for investment in the future projects of the American company.

Read more in Calcalist:

Giora Almogi, CEO of OPC Photo: Uriel Cohen

How about a PPC stock:

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The deal will be completed in the coming months subject to obtaining various approvals. OPC’s negotiations to enter the US market in a huge deal worth hundreds of millions of dollars were first reported in Calcalist. Keren Noy is expected to enter as OPC’s partner in the deal.

CPV (or Competitive Power Ventures) is involved in the initiation, development, construction and maintenance of power plants in the Northeastern United States that supply electricity to 100 million residents. Virginia and Maryland.In addition, the company also operates in the major markets of Texas and California.

The company was established in 1999 and is active in both the field of traditional power plants and renewable energy. The company is headquartered in Boston and Washington. The company is run by Gary Lambert, one of its founders, and employs about 90 people. To date, the company has built 44 power plants in various technologies with a total installed capacity of approximately 14,803 megawatts.

The era of Ofer The era of Ofer Photo: PR

The company currently owns, together with partners, 5 active power plants, powered by natural gas, with a total capacity of approximately 4,045 megawatts (the company’s share – approximately 1,290 megawatts). OPC is managed by Giora Almogi, who led the deal.

The companies Migdal, Poalim Capital Markets and Clal Insurance are conducting advanced negotiations with OPC to enter into a partnership in the transaction.

Yossi Dori, Deputy CEO and Managing Director of Clal Insurance and Finance’s Investment Division, stated: “We welcome and welcome the long-standing and fruitful cooperation with OPC, as part of Clal Insurance and Finance’s long-term strategy, to produce collaborations with leading companies and take part In projects in the field of infrastructure and electricity in the United States, “we are working to realize the transaction of CPV, a company recognized and valued by Clal for several years.”

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