12.05.2022
ISRAELI ENERGY COMPANY NOFAR ENERGY WILL INVEST MORE THAN 300M EUROS IN ROMANIA
Israeli Nofar Energy will invest more than 300m euros in the construction and purchase of wind and solar power in Romania over the next two years.
The company aims to reach a capacity of 1 GW of renewable energy (RES) projects in Romania by the end of 2022, both organically and through acquisitions, the company said in a statement. "We have the necessary financial resources and our shareholders are very open to investing in Romania," said Favi Stelian, CEO of Nofar Energy Romania.
Nofar recently signed a € 130 million deal for a 169 MWp photovoltaic fleet in Epureste, Giurgiu County, to be built in the first half of 2023. The project is likely to be expanded to 400 MWp, depending on technical conditions. the national electricity transmission network, SeeNews reports.
"This is probably the largest investment in renewable energy near Bucharest and in Romania," Stelian said, adding that Nofar will continue to operate all power plants after the construction of projects in its portfolio.
Nofar entered the Romanian market in 2021 and shortly thereafter purchased a 155 MWp photovoltaic project in Arges County, together with its partner Ecoenergy, for 98m euros.
Founded in 2011, Nofar Energy specializes in the development, operation and maintenance of photovoltaic plants and wind farms. The company is listed on the Tel Aviv Stock Exchange and the third largest renewable energy company in Israel by market value.
Last year, Nofar signed a 30m-euro deal with Elon Musk's Tesla to buy batteries with a capacity of at least 100 megawatts. This will enable it to build solar power plants to become part of the Israeli energy network by the end of 2023, bringing Nofar to a total capacity of 1 GW in its home country.
Nofar Energy operates in Spain, Italy, Israel, Poland, the United Kingdom and the United States. The company's activities include terrestrial solar projects, floating solar projects in water reservoirs, solar roof projects and electricity storage projects. Over the years, the company has developed hundreds of partnerships with leading energy and construction companies.
