Nofar Energy Invests 103 Million Euros in Romanian Solar Storage
Nofar Energy will invest 103 million euros to build 1.09 gigawatt-hours of battery storage systems at two solar projects in Romania, slated for completion in 2027.
Nofar Energy is set to construct energy storage facilities adjacent to two of its solar projects in Romania, involving a total investment of 103 million euros, approximately 360 million shekels at the current exchange rate. The renewable energy company has entered into an agreement with an international supplier for the purchase, supply, and commissioning of battery energy storage systems with a cumulative capacity of 1.09 gigawatt-hours. The systems will be installed alongside the two projects and integrated into their operations.
Project Details and Investment
At the Valter Maracineanu project, which has a planned capacity of 178 megawatts, a storage system with a capacity of 650 megawatt-hours will be established under the agreement. The cost of purchasing and installing the storage system for this project is estimated at 57 million euros. At the Corbii Mari project, with a planned capacity of 282 megawatts, a storage system with a capacity of 440 megawatt-hours will be built at an estimated cost of 46 million euros.
Both solar projects are in advanced stages of construction, with their completion scheduled for the third quarter of 2027. Delivery of the required equipment for the storage systems is expected to begin during 2027. Alongside these two projects under construction, Nofar began operating two additional projects in Romania this year, and a third project is ready for grid connection.
"Nofar Energy continues to expand its global footprint and integrate advanced storage solutions into its renewable portfolio, reinforcing its market position." — Company Statement
Global Portfolio and Storage Expansion
The three projects have a cumulative capacity of 361 megawatts. Regarding two of them, the company signed a heads of terms agreement in May to establish attached storage systems with an aggregate capacity of 860 megawatt-hours for 80 million euros, with construction completion scheduled for early 2027. As of the end of June, Nofar held commercial solar projects with a cumulative capacity of 2.1 gigawatts. Of these, 772 megawatts are in the USA, 346 megawatts in Israel, and 315 megawatts in Italy, joined by 427 megawatts through Ellomay, in which Nofar holds a 75% stake.
The storage component in the company's connected facilities remains relatively limited, standing at only 183 megawatt-hours at the end of June. Simultaneously, in projects under construction and approaching construction, the company holds a solar backlog of 2.1 gigawatts, alongside a storage capacity of 10.7 gigawatt-hours.
