Ofer Yanai's Nofar Energy Seals Major European Battery Storage Deal

Nofar Energy, the renewable energy company led by Ofer Yanai, has announced a significant deal to establish battery energy storage facilities in Romania. The company has entered into a supply and installation agreement with an international supplier for two solar projects it is developing in the country, with a combined capacity of 1.09 gigawatt-hours.

The total investment for this initiative is estimated at approximately 360 million shekels (around $97 million USD). The storage systems will be installed adjacent to existing solar farms. Specifically, the Valter Maracineanu project (178 megawatts) will feature a storage system costing 57 million euros, while the Corbii Mari project (282 megawatts) will receive a similar system valued at 46 million euros.

Delivery of the storage equipment is expected in 2027, coinciding with the planned completion of the solar projects in the third quarter of that year. This expansion aligns with Nofar Energy's broader strategy to increase its energy storage capacity across various international markets, including the United States, Italy, and Israel, in addition to its existing and planned projects in Romania.

Nofar Energy currently manages a solar portfolio of approximately 2.1 gigawatts. The integration of these substantial storage facilities in Romania is a key part of the company's strategy to bolster grid storage, which currently stands at about 10.7 gigawatt-hours across its various planning and construction phases.