Nofar to Buy Highlight in $68M Solar-Battery Deal

• Nofar Energy will acquire 92.5% of Highlight Renewable Energy in a $67.7M deal, boosting Israel’s solar and battery pipeline with 30 projects and 850MW capacity.

Israeli renewable energy developer and operator Nofar Energy has agreed to acquire a controlling interest in Highlight Renewable Energy, expanding its domestic solar and battery storage pipeline. Under the deal, Nofar will buy a 92.5% stake in Highlight via its Israel unit, valuing the transaction at about $67.7 million (€58.4 million).

Highlight holds rights to roughly 30 solar and energy storage projects in Israel, at various development stages, totaling an estimated 850 MW of planned generation capacity and about 4.4 GWh of battery storage. The transaction is expected to close after customary regulatory and third-party approvals, plus additional consents tied to Highlight; upon completion, Nofar Energy in Israel will own 92.5% of Highlight.

Why will Nofar’s $67.7M takeover of Highlight expand Israel’s solar and battery pipeline?

• Nofar’s acquisition adds scale to a pipeline that is already a cornerstone of Israel’s energy transition, bringing more utility-scale solar development and battery storage projects under one operator.
  
• With Highlight holding rights to about 30 solar and storage projects, the deal increases the number of “shovel-ready” opportunities Nofar can advance through permitting, grid coordination, and financing—reducing reliance on greenfield origination.
  
• The combined portfolio—about 850 MW of planned solar capacity—expands Nofar’s ability to bid, contract, and deliver renewable generation as Israel’s demand for firm, dispatchable power grows.
  
• The added battery component—roughly 4.4 GWh of storage—supports Israel’s shift toward solar paired with storage to better match electricity supply with peak demand and reduce curtailment risk.
  
• Buying a controlling stake (92.5%) strengthens Nofar’s influence over project decision-making, making it easier to standardize engineering plans, optimize schedules, and manage technology choices across multiple sites.
  
• Consolidating ownership of development rights can speed up execution by streamlining negotiations with landowners, engineering contractors, and relevant authorities across the portfolio.
  
• The expansion improves Nofar’s positioning in markets where investors and offtakers increasingly prefer developers that can supply both generation and storage in coordinated projects.
  
• More storage-backed solar increases the likelihood of securing grid access and commercial frameworks that reward longer-duration resilience and improved reliability.
  
• A larger, diversified domestic project base can lower development risk for Nofar by balancing assets at different stages rather than depending on a narrower set of individual projects.
  
• The transaction value—$67.7 million for a 92.5% interest—reflects a targeted expansion of capabilities and near-term optionality rather than waiting for new project rights to be won from scratch.
• For the overall Israeli pipeline, adding Nofar’s resources to Highlight’s project rights can translate into more projects progressing to construction and commissioning, strengthening momentum toward national renewable and storage targets.