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Nofar Energy Reports Quarterly Profit, Raises Revenue Forecasts Through 2029
Nofar Energy reported a 16 million shekel profit in Q2 2026, driven by project connections in Israel, the US, and Europe. The company raised its revenue and EBITDA forecasts through 2029 and made significant acquisitions, including stakes in a power plant and a solar installation company.
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What happened
- 01Nofar Energy posted a 16 million shekel profit in Q2 2026, reversing previous losses.
- 02Revenues rose 69% to 164 million shekels, with EBITDA up 79% to 133 million shekels in Q2.
- 03The company raised revenue and EBITDA forecasts through 2029, projecting 6.2 billion shekels revenue in 2029.
- 04Nofar's project pipeline reached 16 gigawatts, supporting growth and stock gains.
- 05Nofar acquired 47.5% of the Reindeer power plant for 855 million shekels after Tisha B'Av.
- 06It also bought 92.5% of Highlight, a solar panel installer in southern Israel, for 200 million shekels.
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