OPC Energy Secures Regulatory Approval for $1.8 Billion Hadera Expansion

The project, estimated to cost between $1.7 billion and $1.8 billion, will operate under a 25-year tariff framework. OPC Energy will receive a rate of 3.31 agorot per unit, supplemented by revenue generated from energy sales at the half-hourly System Marginal Price. This expansion is designed to bolster the company’s existing infrastructure in Hadera by adding a combined cycle power plant to meet rising electricity demand across Israel.

Financial momentum for the site remains steady following a recent debt agreement with Bank Leumi, which is set to cover roughly 80% of total project costs. OPC Energy has also finalized an Engineering, Procurement and Construction contract with a joint venture featuring Solel Boneh and an international partner. With these milestones reached, the company is positioning the Hadera site to play a central role in its domestic generation portfolio.