Kenon Holdings to Acquire 25% Stake in US District Heating and Cooling Business

Kenon Holdings Ltd. has entered into an agreement to acquire a 25% interest in a United States-based district heating and cooling business for approximately $450 million. This acquisition is anticipated to strengthen Kenon's position within the energy sector, particularly in sustainable infrastructure.

The acquired business focuses on the development and operation of regional district heating and cooling networks. This strategic investment aligns with Kenon's objective to expand its portfolio into infrastructure assets that offer stable cash flows and growth potential. Specifics regarding the geographic location or operational scale of the U.S. business have not been disclosed.

The transaction represents a continuation of Kenon's strategy to increase its exposure to the North American energy market. The company has previously invested in various energy production and distribution projects, and this latest move supports its focus on low-carbon energy solutions.

Kenon expects the deal to close in the third quarter of the year, subject to customary closing conditions and regulatory approvals. Kenon Holdings Ltd. is a global company involved in investing in and operating businesses across various industries worldwide.