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OPC Energy Posts Mixed Q1 Generation Results as Outages Weigh on Plants

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OPC Energy reported Q1 earnings on Wednesday, with strong performance at its Rotem and Hadera power plants in Israel offset by weak output at the Gat and Zomet facilities.

Rotem, a 466 megawatt plant, generated 923 gigawatt-hours of electricity in Q1, compared with 926 GWh a year ago. OPC said actual generation availability at the plant improved to 99.6% from 99.3%, while generation utilization edged down to 95.8% from 96.4%.

Net electricity generation at the energy firm's 144 MW Hadera plant dropped to 226 GWh from 233 GWh the previous year.

Performance at the Gat power plant dropped during the quarter, with net generation decreasing to 92 GWh from 143 GWh a year ago, while generation utilization dropped to 59.7% from 92.9%.

Output at the Zomet plant also remained weak. The facility's net electricity generation dropped to 54 GWh from 73 GWh a year ago, while utilization fell to 7.1% from 9.3%. Availability at the plant dropped to 55.5% from 67.5%.

Meanwhile, total net electricity generation across OPC's six main natural gas facilities reached 7.33 GWh in Q1, down from 8.48 GWh for the corresponding period a year earlier.

The energy firm's 1,050 MW Fairview plant's net electricity generation dropped to 886 GWh in Q1, from 2,127 GWh in the three months to March 2025. Fairview's actual generation percentage fell to 38.9% from 93.2% a year earlier.

However, the 1,258 MW Three Rivers plant's net generation rose to 1,761 GWh in Q1, up from 1,615 GWh for the same period a year ago.

Net generation at the 725-MW Shore facility rose to 937 GWh from 778 GWh in the same period last year, while the 805 MW Towantic plant reported a net generation of 1,517 GWh.

OPC's US power generation and renewable energy portfolio reached about 18.8 gigawatts during the quarter, together with 11.7 GWh of energy storage projects.

The company said about 15 GW of its US portfolio is spread across operational and development assets, with low-carbon natural gas projects accounting for about 8.8 GW. Renewable energy projects represented about 3.9 GW, while conventional natural gas assets accounted for about 2.3 GW.

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