Nofar Energy Activates 27-MW Solar Park in Serbia

• Nofar Energy powers up Serbia with its 27-MW Ada solar park, marking a key step in expanding its renewable footprint in Eastern Europe.

Israel’s Nofar Energy Ltd has successfully connected its 27-MW Ada solar photovoltaic park to the grid in Serbia. This marks a significant milestone for the company as it expands its renewable energy footprint in Eastern Europe. The Ada solar farm is expected to contribute to Serbia's renewable energy targets and enhance the country's energy mix with sustainable power sources.

Nofar Energy, listed on the Tel Aviv Stock Exchange under the ticker NOFR, continues to advance its international projects, reinforcing its commitment to global renewable energy development. The completion of the Ada solar park underscores the company's strategic focus on expanding its solar energy portfolio.

How does Nofar Energy's Ada solar park impact Serbia's renewable energy goals?

• Contribution to National Renewable Targets: The Ada solar park's 27-MW capacity is a significant addition to Serbia's renewable energy infrastructure, helping the country move closer to its national renewable energy targets. By increasing the share of solar power in the energy mix, Serbia can reduce its reliance on fossil fuels and decrease greenhouse gas emissions.
• Diversification of Energy Sources: The integration of the Ada solar park into Serbia's grid diversifies the country's energy sources. This diversification is crucial for enhancing energy security and reducing vulnerability to energy supply disruptions, particularly those related to fossil fuel imports.
• Economic and Environmental Benefits: The operation of the Ada solar park is expected to generate economic benefits, including job creation during the construction and maintenance phases. Additionally, the environmental benefits include a reduction in carbon emissions and a decrease in air pollution, contributing to improved public health and environmental quality.
• Alignment with EU Energy Policies: As Serbia aspires to join the European Union, the Ada solar park aligns with EU energy policies that emphasize the transition to renewable energy. This project demonstrates Serbia's commitment to meeting EU standards and regulations regarding renewable energy adoption and sustainability.
• Encouragement for Further Investments: The successful connection of the Ada solar park to the grid may encourage further investments in Serbia's renewable energy sector. It sets a precedent for future projects and can attract both domestic and international investors interested in sustainable energy development.
• Technological Advancement and Innovation: The implementation of advanced solar technologies in the Ada solar park can serve as a model for future projects in Serbia. It showcases the potential for innovation in the renewable energy sector and encourages the adoption of cutting-edge technologies to maximize efficiency and output.
• Community and Regional Development: The Ada solar park can stimulate regional development by providing a reliable source of clean energy. It can also foster community engagement and awareness about the benefits of renewable energy, promoting a culture of sustainability and environmental responsibility.