With this new addition, Nofar Energy’s portfolio will exceed 600 MWp, and the implementation of these projects is planned for the later part of 2023.
Nofar, together with its project partner are close to completing construction on the largest photovoltaic park in Romania and Eastern Europe, which will be operational by year-end 2023.
“Even though we entered the Romanian market in 2021, we started by acquiring, along with a partner, the largest photovoltaic project, Ratesti 155 MWp, which we are in the final stages of completing construction and connecting this year. Photovoltaic project Ratesti represents the largest investment in renewable energy in Romania” says Favi Stelian, CEO of Nofar Energy Romania. He further added that the company intends to operate the power plants entirely, following the completion of the projects in their portfolio.
The rest of the projects in Nofar Energy’s portfolio, which will bring the total to over 600 MWp, will begin to generate and supply energy by the year 2024-2025. “We will become one of the major suppliers of green energy in the region”
Nofar Energy has set aside more than 500 million euros for investments in the next two years, specifically for projects currently in progress. “We have the necessary funds, and our shareholders are open to investing in Romania” said the CEO of Nofar Energy Romania. Additionally, the company has already secured its own funds for the acquisition of new projects or land.
Nofar Energy is a company specialized in developing, operating and storing energy produced from PV power plants and wind parks, listed on the Tel Aviv Stock Exchange (TASE), with operations in Spain, Italy, Israel, Poland, United Kingdom and United States.
Nofar Energy Romania is also evaluating other renewable energy projects. Favi Stelian is confident that by the end of the year it will achieve its goal of acquiring and developing projects with a capacity of 1.5 GW: “We thoroughly evaluate our options and only proceed with well- developed projects that comply with all legal requirements.”
Nofar Energy has several plots of land under analysis, with a total area of approximately 650 hectares, intending to develop new solar projects in 2023- 2025. “We will keep building until 2030”, says Favi Stelian, determined to position the company as a long-term leader in the Ramanian renewable energy market.
