Kenon Holdings stock gained 1.87 percent on October 2 after deal

Published on 10/04/2026 at 21:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Kenon Holdings stock was last at USD 60.49 on October 2, 2026, after a USD 450 million Vicinity investment. Q2 revenue reached USD 379 million.

KEN, SG9999012629, Illustration mit AI erstellt.

Kenon Holdings (ISIN SG9999012629) stock was last at USD 60.49 on the NYSE on October 2, 2026, up 1.87 percent from the prior close. The move followed Kenon's September 30 agreement to invest USD 450 million for a 25 percent stake in Vicinity District Energy, as PR Newswire reported on September 30, 2026.

USD 450 million energy expansion

Vicinity operates district heating and cooling systems in 12 major U.S. cities, including Boston and Philadelphia. The platform serves more than 700 customers across 1,000 buildings and has 15-year weighted-average contract terms, with inflation-linked escalators and fuel-cost pass-throughs, according to PR Newswire.

The transaction values 100 percent of Vicinity at USD 2.92 billion. Kenon's maximum cash obligation is USD 450 million, while its guarantee obligation is limited to USD 40.2 million, creating a defined funding ceiling even as the purchase remains subject to regulatory approvals and is expected to close in Q2 2027.

Q2 revenue reaches USD 379 million

Kenon's main operating exposure also delivered a quantified growth signal in the quarter ended June 30, 2026. OPC revenue rose from USD 196 million in Q2 2025 to USD 379 million in Q2 2026, an increase of USD 183 million, while U.S. revenue reached USD 176 million from USD 43 million after the first-time consolidation of the Shore and Maryland plants, PR Newswire reported on September 8, 2026.

OPC profit for the period increased from USD 1 million to USD 15 million in the same comparison. Adjusted EBITDA including the proportionate share of associated companies reached USD 131 million, versus USD 90 million a year earlier; the company identifies this as a non-IFRS measure.

Liquidity supports the planned stake

Kenon's stand-alone cash stood at USD 605 million on August 31, 2026, compared with USD 512 million at June 30, 2026. The Q2 update also recorded USD 93 million received from Peru in August after payment of an arbitration award, according to PR Newswire.

Stock sits 36.94 percent below yearly high

KEN was last at USD 60.49 on the NYSE on October 2, 2026 at 4:00 p.m. ET, with volume of 15,819 shares. The price stood 36.94 percent below the 52-week high of USD 95.93 and 32.32 percent above the 52-week low of USD 45.71.