Nofar Energy Signs 15-Year Electricity Storage Deal With Cellcom Energy In Israel

Nofar Energy has signed a long-term agreement with Cellcom Energy, one of Israel’s leading electricity trading companies, to sell electricity from its planned battery energy storage projects. The 15-year agreement marks an important step for Nofar as it strengthens its energy storage business and secures a stable source of long-term revenue.

Under the agreement, Nofar Israel will supply electricity generated from storage facilities that the company plans to build in the coming years. The projects will have a total power capacity of around 100 MW and an energy storage capacity of 500 MWh. These battery storage systems will help improve grid reliability by storing electricity and supplying it when demand is high.

The company expects the agreement to generate around NIS 820 million in net revenue over the 15-year contract period. The long-term nature of the deal provides greater financial certainty for Nofar and supports the continued expansion of its energy storage portfolio.

Construction and development activities are expected to move ahead soon, with the first storage facilities planned to begin commercial operations in the first half of 2027.

Both Nofar Energy and Cellcom Energy welcomed the agreement and thanked their respective professional teams for their efforts in completing the deal. The partnership is expected to support the growth of Israel’s renewable energy sector by increasing energy storage capacity and improving the reliability of electricity supply.