International Electricity Supplier Announces Closure Of Acquisition Of Competitive Power Ventures

OPC Energy Ltd. announced that its acquisition of Competitive Power Ventures (CPV) received regulatory approval and has closed.

OPC Energy Ltd. is a private electricity company in Israel engaged in the initiation, development, construction and operation of power plants, as well as electricity generation and supply to private customers and the Israel Electric Corporation.

As previously reported, OPC, partnered with three Israeli institutional investors, agreed in October to acquire 100 percent of CPV from Global Infrastructure Partners (GIP), and now fully owns CPV's operating assets, development pipeline and asset management business.

See more details on the transaction here

"OPC plans to invest significant capital in CPV to expand its businesses and fund its future growth, focusing on renewable energy and highly efficient gas projects," the company said

"We are excited to announce the completion of the CPV acquisition. The transaction puts OPC directly into the areas of green energy, and especially into the areas of solar energy and wind energy, which are part of CPV's significant growth engines" said Giora Almogy, CEO of OPC.