Israel-based OPC Energy recently announced the closure of its acquisition of Competitive Power Ventures (CPV) from Global Infrastructure Partners (GIP) after receiving the required regulatory approval. With this transaction OPC fully owns CPV’s operating assets, development pipeline and asset management business. OPC has partnered with three Israeli institutional investors to carry out this acquisition.
CPV has developed, sold, financed and acquired 14.8 GW of renewable and gas-based power generation facilities over the past two decades. OPC aims to further expand the business in these two areas by investing significant capital in CPV. This deal marks OPC’s entry into the United States renewable energy market.
A leading North American energy company, CPV is headquartered in Silver Spring, Maryland, with an office in Braintree, Massachusetts. It has ownership interest in 5.5 GW of clean energy generation across the United States while its asset management division manages 7.9 GW of fossil and renewable generating facilities in nine states for 11 different owner groups.
OPC Energy, incorporated in 2010, is a private electricity company in Israel. It operates in the field of power generation and supply including development, construction, and operation of power plants, as well as supply of power to private customers and to Israel Electricity Corporation. The company generates about 5% of the electricity consumption in Israel.