<SEC-DOCUMENT>0001178913-25-003574.txt : 20251029
<SEC-HEADER>0001178913-25-003574.hdr.sgml : 20251029
<ACCEPTANCE-DATETIME>20251029060225
ACCESSION NUMBER:		0001178913-25-003574
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20251029
FILED AS OF DATE:		20251029
DATE AS OF CHANGE:		20251029

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Kenon Holdings Ltd.
		CENTRAL INDEX KEY:			0001611005
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			U0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36761
		FILM NUMBER:		251426619

	BUSINESS ADDRESS:	
		STREET 1:		1 TEMASEK AVENUE #37-02B
		STREET 2:		MILLENIA TOWER
		CITY:			SINGAPORE
		STATE:			U0
		ZIP:			039192
		BUSINESS PHONE:		65 6351 1780

	MAIL ADDRESS:	
		STREET 1:		1 TEMASEK AVENUE #37-02B
		STREET 2:		MILLENIA TOWER
		CITY:			SINGAPORE
		STATE:			U0
		ZIP:			039192
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk2533895.htm
<DESCRIPTION>6-K
<TEXT>
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    <div style="text-align: center; line-height: 1.25; font-weight: bold; font-size: 14pt;">UNITED STATES</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;"><font style="font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</font><br>
      Washington, D.C. 20549</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold; font-size: 14pt;">FORM 6-K</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER<br>
      PURSUANT TO RULE 13a-16 OR 15d-16<br>
      UNDER THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">October 29, 2025</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Commission File Number 001-36761</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold; font-size: 16pt;">Kenon Holdings Ltd.</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="text-align: center; line-height: 1.25;">1 Temasek Avenue #37-02B<br>
      Millenia Tower<br>
      Singapore 039192<br>
      (<font style="font-style: italic;">Address of principal executive offices</font>)</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="text-align: justify; line-height: 1.25;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Form 20-F &#9746; &#160; &#160; &#160; Form 40-F &#9744;</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="text-align: justify; line-height: 1.25;">EXHIBIT 99.1 TO THIS REPORT ON FORM 6-K IS INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-201716) OF KENON HOLDINGS LTD. AND IN THE PROSPECTUSES RELATING TO SUCH
      REGISTRATION STATEMENT.</div>
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    <div style="line-height: 1.25; font-weight: bold;"><u>Exhibits</u></div>
    <table cellspacing="0" cellpadding="0" id="z4be017b655f04b2d83b1067b882561fd" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <div style="line-height: 1.25;">&#160;</div>
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          <td style="width: 50%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;" colspan="2">
            <div style="text-align: justify; line-height: 1.25;"><a href="exhibit_99-1.htm">99.1 Press Release, dated October 29, 2025: Kenon&#8217;s Subsidiary OPC Energy Ltd.
                Announces Financial Closing and Commencement of Construction of the Basin Ranch Project and Agreement to Purchase Remaining 30% Interest in the Basin Ranch Project</a></div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;">&#160;
      <div style="line-height: 1.25;"><br>
      </div>
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    <div style="text-align: center; line-height: 1.25; font-weight: bold;">SIGNATURES</div>
    <div style="line-height: 1.25;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
      authorized.</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;"> <br>
    </div>
    <font style="font-weight: bold;"> </font>
    <table cellspacing="0" cellpadding="0" border="0" id="z4587d79041d543cc93f95fd6153cb557" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="vertical-align: top;" colspan="2">
            <div style="line-height: 1.25;">KENON HOLDINGS LTD.</div>
          </td>
          <td style="width: 24%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
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          <td style="width: 50%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 3%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 24%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
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          <td style="width: 50%; vertical-align: top;">
            <div style="line-height: 1.25;">Date: October 29, 2025</div>
          </td>
          <td style="width: 3%; vertical-align: top;">
            <div style="line-height: 1.25;">By:</div>
          </td>
          <td style="width: 23%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">/s/ Robert L. Rosen</div>
          </td>
          <td style="width: 24%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
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            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 3%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div style="line-height: 1.25;">Name: Robert L. Rosen</div>
          </td>
          <td style="width: 24%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 3%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div style="line-height: 1.25;">Title: Chief Executive Officer</div>
          </td>
          <td style="width: 24%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
        </tr>

    </table>
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    </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit_99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <div>
      <div style="text-align: right;"><font style="font-weight: bold;"><u>Exhibit 99.1</u> </font></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">Kenon&#8217;s Subsidiary OPC Energy Ltd. Announces Financial Closing and Commencement of Construction of</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"> the Basin Ranch Project and Agreement to Purchase Remaining 30% Interest in the Basin Ranch Project</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; margin-right: 0.2pt; margin-left: 0.2pt; line-height: 1.25;"><font style="font-weight: bold;">Singapore, October 29, 2025</font>. Kenon Holdings Ltd.&#8217;s (NYSE: KEN, TASE: KEN) (&#8220;<font style="font-weight: bold;">Kenon</font>&#8221;)


        subsidiary OPC Energy Ltd. (&#8220;<font style="font-weight: bold;">OPC</font>&#8221;) has announced updates in connection with the Basin Ranch Project, a gas-fired power plant project in Texas with an estimated 1.35 GW capacity (the &#8220;<font style="font-weight: bold;">Basin Ranch Project</font>&#8221;), which, as of the date hereof, is 70%-owned by&#160;CPV Group LP (&#8220;<font style="font-weight: bold;">CPV</font>&#8221;), a 70%-owned subsidiary of OPC. OPC has announced the financial closing (the &#8220;<font style="font-weight: bold;">Financial</font>&#160;<font style="font-weight: bold;">Closing</font>&#8221;) and the commencement of construction of the Basin Ranch Project. OPC also announced the execution of an agreement (the &#8220;<font style="font-weight: bold;">Purchase


          Agreement</font>&#8221;) with GE Vernova (&#8220;<font style="font-weight: bold;">GEV</font>&#8221; or the &#8220;<font style="font-weight: bold;">Seller</font>&#8221;) for the acquisition of GEV&#8217;s remaining 30% ownership interest in the Basin Ranch Project. Set forth below
        is a summary of some of the terms of the arrangements as announced by OPC.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; margin-right: 0.1pt; margin-left: 0.1pt; line-height: 1.25;"><u>Basin Ranch Project Financial Closing</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <div style="text-align: justify; line-height: 1.25;">As part of the Financial Closing, the following agreements and actions became effective: (i) funding of the full equity commitment by the equity holders of the Basin Ranch Project, as required by
          the approximately $1.1 billion subsidized loan funded through the Texas Energy Fund (the &#8220;<font style="font-weight: bold;">TEF Loan</font>&#8221;); (ii) execution of an Engineering Procurement and Construction Agreement (the &#8220;<font style="font-weight: bold;">EPC Agreement</font>&#8221;) with a U.S.-based power plant construction company (the &#8220;<font style="font-weight: bold;">EPC Contractor</font>&#8221;) for the construction of the Basin Ranch Project; (iii) financial closing of the loan agreement with
          Bank Leumi le-Israel Ltd (as described below); and (iv) execution and financial closing of the full TEF Loan agreements, including the first drawdown under the TEF Loan.</div>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <div style="text-align: justify; line-height: 1.25;">At Financial Closing, the equity holders in the Basin Ranch Project funded their equity commitments in the project on a pro rata basis as of the Financial Closing date, whereby CPV (70%) provided
          for this purpose an aggregate cash amount of approximately $470 million, comprising $300 million through a loan from Bank Leumi le-Israel Ltd (for further details, see Kenon&#8217;s report on Form 6-K dated October 23, 2025) and cash of approximately
          $170 million funded by OPC through a short-term bridge loan to bridge completion of the equity investment process. OPC used part of the funds raised in the equity offering conducted in June 2025 for this purpose.</div>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; margin-right: 0.1pt; margin-left: 0.1pt; line-height: 1.25;">In addition, additional security was provided by the equity holders in the Basin Ranch Project as part of the Financial Closing, including by CPV, which
        posted letters of credit (the &#8220;<font style="font-weight: bold;">LCs</font>&#8221;) amounting to approximately $140 million. As previously disclosed by OPC, the LCs are backed by OPC guarantees or provided from certain of OPC&#8217;s facilities.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; margin-right: 0.3pt; margin-left: 0.3pt; line-height: 1.25;"><u>Commencement of Construction of Basin Ranch Project</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; margin-right: 0.3pt; margin-left: 0.3pt; line-height: 1.25;">At Financial Closing, the Basin Ranch Project company entered into the EPC Agreement with the EPC Contractor in connection with the construction of the
        Basin Ranch Project.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; margin-right: 0.3pt; margin-left: 0.3pt; line-height: 1.25;">In addition, as previously disclosed by OPC, the equipment for the Basin Ranch Project is to be supplied under an equipment agreement with an affiliate of
        GEV (the &#8220;<font style="font-weight: bold;">Equipment Agreement</font>&#8221;). The consideration under the EPC Agreement and Equipment Agreement is to be paid over time in accordance with the milestones set in each agreement and is expected to total, in
        aggregate for both agreements (including additional equipment contracts), approximately $1.4 billion. Both the EPC Agreement and the Equipment Agreement include fixed and variable consideration payable by the Basin Ranch Project company in
        accordance with the agreements.</div>
      <div style="text-align: justify; margin-right: 0.3pt; margin-left: 0.4pt; line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; margin-right: 0.3pt; margin-left: 0.3pt; line-height: 1.25;">At Financial Closing, the EPC Contractor was issued with a Notice to Proceed for the commencement of the construction phase and additional agreements of the
        Basin Ranch Project became effective. The estimated expected cost of construction of the Basin Ranch Project is between approximately $1.8 billion to $2 billion.</div>
      <div style="text-align: justify; margin-right: 0.3pt; margin-left: 0.3pt; line-height: 1.25;"> <br>
      </div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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      </div>
      <div style="text-align: justify; margin-right: 0.3pt; margin-left: 0.3pt; line-height: 1.25;"><u>Purchase Agreement for Remaining 30% Interest in the Basin Ranch Project</u></div>
      <div style="text-align: justify; margin-right: 0.3pt; margin-left: 0.3pt; line-height: 1.25;"><u> <br>
        </u></div>
      <div>
        <div style="text-align: justify; line-height: 1.25;">OPC further announced that CPV has entered into a Purchase Agreement with the Seller&#160;for the acquisition by CPV of the Seller&#8217;s 30%
          ownership interest in the Basin Ranch Project, in which CPV currently holds the remaining 70%. According to the Purchase Agreement, the closing of the acquisition of the remaining 30% interest in the Basin Ranch Project is subject to conditions
          precedent and OPC expects closing to take place no later than February 28, 2026. Such conditions precedent primarily include replacement of collateral provided by the Seller in connection with the TEF Loan. If this closing does not occur by
          February 28, 2026, the Purchase Agreement will terminate.</div>
        <div style="text-align: justify; line-height: 1.25;"> <br>
        </div>
      </div>
      <div style="text-align: justify; margin-right: 0.1pt; margin-left: 0.1pt; line-height: 1.25;">The consideration for the acquisition under the Purchase Agreement is approximately $371 million, which includes, among other things, (i) the Seller&#8217;s
        pre-closing investments as of the date of the Purchase Agreement plus additional consideration and (ii) the amount of equity and LCs provided in connection with the TEF Loan and the other Basin Ranch Project equity holders&#8217; commitments related to
        the Basin Ranch Project in respect of the 30% interest held as of the date hereof by the Seller. The Seller will be entitled to a share of the future outstanding development fees in the Basin Ranch Project which are payable on the commercial
        operation date.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <div style="text-align: justify; line-height: 1.25;">According to the Purchase Agreement, CPV will pay the consideration (potentially through a combination of cash and LCs) on several dates starting from TEF Loan closing and in the interim period
          (approximately $65 million), upon the closing of the acquisition under the Agreement (approximately $226 million) and during the construction of the Basin Ranch Project (approximately $80 million in four equal installments starting in 2026).
          Sources for the above amount are expected to include a combination of (some or all) available cash at CPV and LCs (which are backed by OPC guarantees and/or provided from certain of OPC&#8217;s facilities), equity from owners of CPV and/or debt to be
          provided to CPV. OPC announced that it intends to provide CPV the amount required from the equity holders for such payments (to the extent not provided through CPV&#8217;s cash, financing or LCs as mentioned) from internal and/or external sources and
          to conduct a process with the other limited partners of CPV in accordance with the CPV partnership agreement.</div>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">OPC announced that the acquisition of this remaining 30% interest in the Basin Ranch Project will result in consolidation of the Basin Ranch Project in CPV&#8217;s and consequently in OPC&#8217;s financial
        statements. OPC is examining the accounting implications of the consolidation of the acquisition on its financial statements.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;"><u>Additional details regarding the Basin Ranch Project</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">OPC also announced that the Basin Ranch Project company has entered into commercial agreements for hedging a material portion of the power plant&#8217;s capacity and agreements regarding operation and
        asset management of the facility. Subject to the completion of the construction and commissioning as planned, CPV estimates that commercial operation date of the Basin Ranch Project is expected during 2029.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25; font-style: italic; font-weight: bold;"><u>Caution Concerning Forward-Looking Statements</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25; font-style: italic;">This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking
        statements by words or phrases such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;expect,&#8221; &#8220;estimate,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;believe,&#8221; &#8220;likely to&#8221; &#8220;should,&#8221; or other similar expressions. These statements include statements about the Purchase Agreement and its completion,
        including the terms and conditions thereof, the expected sources and/or availability of the funding for the consideration payable under the Purchase Agreement including the process with other limited partners of CPV in accordance with the CPV
        partnership agreement, statements about the EPC Agreement, including the terms and conditions thereof, the expected timelines and milestones under the EPC Agreement, and the expected sources and/or availability of the funding for the consideration
        payable under the EPC Agreement, statements about the Equipment Agreement, statements about the Basin Ranch Project, including expected attributes of the project such as expected cost of the project and its construction and the duration of
        construction, and costs under the EPC Agreement and the Equipment Agreement, expected capacity and the estimated date of commercial operation of the Basin Ranch Project, the TEF Loan Agreement, expected accounting treatment and implications,
        statements about commercial structure including additional hedging agreements and hedging plans and other non-historical statements, statements about the financial closing of the Basin Ranch Project. These forward-looking statements are based on
        current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties which could cause the actual results to differ materially from those
        indicated in Kenon&#8217;s forward-looking statements. Such risks include risks relating to the Purchase Agreement, the EPC Agreement, the Equipment Agreement, and the Equity Contribution Agreement including meeting conditions precedent for the
        transactions contemplated by the agreements, risks relating to the TEF Loan Agreement including risks relating to execution closing and funding of the TEF Loan Agreement by the deadline in the Purchase Agreement, risks relating to the process with
        the other limited partners of CPV in accordance with the CPV partnership agreement, if it proceeds, including as to its terms or completion and scope of participation of such partners or which partners may ultimately participate, risks relating to
        the Basin Ranch Project, including relating to meeting conditions for the Basin Ranch Project, risks relating to the hedging arrangements including the risk that hedging arrangements may not be effective, and the ultimate cost and timing to
        complete the Basin Ranch Project if it proceeds, and other risks, including those set forth under the heading &#8220;Risk Factors&#8221; in Kenon&#8217;s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. Except as
        required by law, Kenon undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
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