Nofar Energy to Build 16 Energy Storage Facilities for Cellcom Energy in 820 Million Shekel Deal

Nofar Energy has signed a contract with Cellcom Energy to construct and operate 16 independent energy storage facilities with a maximum capacity of 100 megawatts and a storage capacity of 500 megawatt-hours. The agreement, valued at 820 million shekels, will see Nofar Israel, a subsidiary of Nofar Energy, manage the facilities starting next year. The contract duration is set for 15 years from the activation date of each facility.

Cellcom Energy, a joint venture between Cellcom and Meshek Energy, sells electricity to private customers and households. It began offering electricity to consumers following the electricity market reform in January 2024, which allowed private suppliers to contract directly with private and household consumers.

In recent months, Cellcom Energy has entered several significant agreements to expand its energy supply. In September 2023, it signed a 1.1 billion shekel deal with Meshek Energy for electricity from four solar projects combined with storage over 20 years. In January 2024, it contracted with Synergy, owned by Rafek and Mivtach Shamir, for a 50-megawatt solar-storage facility in the south, valued at 350 million shekels for 10 years. In February, Cellcom Energy also signed a 580 million shekel agreement with Future Energy to build five storage facilities with a capacity of 45 megawatts and 212 megawatt-hours, with Electra handling construction.

These agreements reflect Cellcom Energy's strategic efforts to secure diversified and reliable electricity sources amid the evolving Israeli energy market.