Kenon Holdings Ltd. (KEN) has released an update.
Kenon Holdings Ltd. announced that its subsidiary, OPC Energy Ltd., faces a setback as the Israeli government has rejected its plan for a new power plant adjacent to its existing Hadera facility. OPC is considering its next steps, including potential legal action, and is evaluating the financial repercussions of the decision, which may affect the company’s reported NIS 31 million ($8 million) asset related to the project. This development could have significant implications for OPC’s upcoming financial statements for the quarter ending March 31, 2024.
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