Nofar Energy Of Israel Plans To Invest 500 Million Euros In The Next 2 Years In Romania

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Nofar Energy, an Israeli company, stated that it plans to invest 500 million euros over the next two years in Romanian solar energy projects.

Nofar Energy has already in its portfolio projects in Romania, with a total capacity exceeding 600 MWp. It will implement these projects in the second half of 2023 and will supply energy to the national grid starting in 2024-2025, according to a press release.

Favi Stelian (Nofar Energy Romania CEO) stated that “the necessary financing is readily available and our shareholders are open to investing in Romania”.

The company also has funds available for future acquisitions and construction of new projects and land purchases.

Nofar also stated that it had acquired a 73MWp project for solar energy in Giurgiu, Romania’s southern region. The project is located in Slobozia and will be ready for construction in the H1 of 2023. Its capacity could be increased to 130MWp.

Nofar, which entered the Romanian market in the year 2021, soon bought a 155 MWp photovoltaic plant in Ratesti, Arges County, for around 98 million euros with Ecoenergy. In July, Nofar unveiled a solar project of 255 MW built on 290 hectares in southern Romania.

Nofar Energy was founded in 2011 and is listed on the Tel Aviv Stock Exchange. It is a specialist in the operation, maintenance, and development of photovoltaic and wind farms. According to the company’s website, its activities include ground-mounted and floating solar projects on water reservoirs, roof solar projects, as well as electricity storage projects.