Nofar USA lands BESS project on brownfield site with long term offtake.

Nofar USA today announced it has transacted on a battery energy storage system (BESS) project with approximately 400 MWh of capacity. The project is in the process of signing a 15-year offtake agreement.

The project is sited on brownfield land, has secured a site plan approval, and has executed a grid interconnection agreement. Construction is expected to begin within the next 12 months with commercial operation planned by the end of 2028.

This acquisition builds on Nofar USA's track record of moving deliberately on high-quality assets, adding to a platform that already spans solar generation and storage assets across multiple U.S. markets.

Allon Raveh, Chairman and CEO of Nofar USA, said: “Energy storage is one of the asset classes we specialize in. It is essential infrastructure for a reliable and resilient electric grid. But it’s impact is not just on grid stability, it also enables greater use of renewable energy and provides a cleaner alternative to gas-fired peaker plants. This project will cost about $230mil and is another important step in growing our U.S. platform. We are proud to be working with the top U.S. developers on dozens of energy storage projects across the country as we help bring the next generation of energy infrastructure to market, strengthening the grid and delivering long-term benefits to American consumers.”

About Nofar USA

Nofar Energy is a global renewable energy independent power producer active in Israel, Europe, and the United States. The company develops, owns, and operates power generation and energy storage assets across multiple markets and is publicly listed on the Tel Aviv Stock Exchange with a market capitalization of approximately $3 billion.

Nofar USA serves as the company’s U.S. platform and has focused on building a diversified portfolio across regulated and deregulated power markets through a combination of organic development and acquisitions.

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This project is another important step in growing our U.S. platform. We are proud to be working with the top U.S. developers. - Allon Raveh