Israel's Nofar Energy intends to invest 300 mln euro in RES in Romania in 2023-2024

• Israel's Nofar Energy is aiming to establish or obtain wind as well as solar projects in Romania where it plans to spend over 300 million euro ($ 316 million) in the adhering to 2 years, it claimed on Tuesday.

The firm intends to get to 1GW capacity of renewable resource source (RES) projects in Romania by the end of 2022, both organically as well as via procurements, it said in a news release.

" We have the essential funds, and also our shareholders are very open to investments in Romania", Nofar Energy Romania CEO Favi Stelian stated.

Nofar also announced that it just recently authorized a 130 million euro offer for a 169 MWp photovoltaic project in Iepuresti, Giurgiu county, which will certainly be ready to be constructed in the initial fifty percent of 2023. The project will more than likely be encompassed 400 MWp, depending upon the technical conditions of the national power grid.

" This is probably the largest investment in renewable energy near Bucharest and also in Romania," Favi Stelian claimed, including that Nofar will certainly remain to operate all nuclear power plant after the construction of the projects in its portfolio.

Nofar went into the Romanian market in 2021 and also soon after that it purchased a 155 MWp solar project in Ratesti, Arges county, along with its partner, Ecoenergy, for 98 million euro.

Established in 2011, Nofar Energy is detailed on the Tel Aviv Stock Market. It is been experts in the advancement, operation and also upkeep of solar plants and also wind ranches.

The business's activities include ground-mounted solar projects, floating solar projects on water reservoirs, roof solar projects, and power storage projects, according to its site