# OPC Energy plans to acquire Competitive Power Ventures for $700-800M

Israel's OPC Energy signed a letter of intent to acquire US-based electricity generation company Competitive Power Ventures (CPV) for $700-800 million. The deal aims to expand OPC's operations in the US renewable energy market.

- Type: Acquisition
- Announced: 2020-09-17
- Where: Boston, Washington, United States
- Value: $750.0M
- Status: announced
- Products: electricity generation, renewable energy, natural gas power
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Competitive Power Ventures](https://endata.com/companies/23136.md) (target)
- [OPC Energy](https://endata.com/companies/32482.md) (acquirer)
- [Global Infrastructure Partners](https://endata.com/companies/50492.md) (partner)

## Sources

- [power-technology.com](https://www.power-technology.com/news/israels-opc-energy-signs-loi-acquire-us-firm-competitive-power-ventures/), 2020-09-17: "We have long recognised the potential inherent in the US electricity market, with an emphasis on expanding operations into the field of renewable energies."
- [prnewswire.com](https://www.prnewswire.com/news-releases/kenons-subsidiary-opc-announces-agreement-to-acquire-cpv-power-business-in-the-united-states-301150027.html), 2020-10-12: "Consideration for the acquisition is $630 million (payable in cash), subject to post-closing adjustments based on closing date cash, working capital and debt."
- [power-eng.com](https://www.power-eng.com/gas/turbines/gip-selling-gas-fired-solar-developer-competitive-power-ventures-to-israeli-based-opc/), 2020-10-13: "Following consummation of the transaction, we look forward to the opportunities created by our new partnership with OPC, which positions us well for our next phase of growth during a pivotal time as the U.S. transitions toward greener and lower emitting generating resources."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.