Kenon Agrees to Buy 25% of Vicinity District Energy for About $450 Million

06:40 AM EDT, 09/30/2026 (MT Newswires) -- Kenon (KEN) has agreed to acquire a 25% indirect interest in Vicinity District Energy for about $450 million in cash, the company said Wednesday. Vicinity operates district heating and cooling systems in 12 US cities, serving more than 700 customers across about 1,000 buildings. The business generated about $611 million in revenue in 2025, Kenon said. Kenon plans to fund its investment with cash on hand and available liquidity, it said. The acquisition is expected to close in Q2 2027, subject to regulatory approvals and other customary conditions.