Nofar Energy recently signed a purchase contract for a 169 MWp photovoltaic project in Iepurești, Giurgiu County and which will be ready to be built in the first part of 2023. The project will most likely be extended to 400 MWp, depending on the technical conditions of the national energy system network.
“Probably is the largest investment in renewable energy near Bucharest and in Romania,” says Favi Stelian, CE0 Nofar Energy Romania, adding that Nofar will continue to operate all power plants after the construction of the projects in its portfolio. Nofar Energy aims to develop and purchase solar and wind projects with a capacity of 1 GW by 2022.
In Romania, there is still a high interest for new profile projects.
“Even though we entered the Romanian market only in 2021, last year we bought – together with a partner – the 155 MWp Rătești photovoltaic project, a project for which the actual construction started. Currently, it is the largest photovoltaic project, but the Iepurești project will become number 1, once completed. In 2023 we will deliver energy from Rătești, and in 2024 from Iepurești. Thus, we will become one of the most important suppliers of green energy,” says Favi Stelian.
Nofar allocates over 300 million euro for investments in the next two years, only for the first projects.
“In the first stage of the Iepurești project (169 MWp) we will invest over 130 million euro. To that is added the investment in the Rătești photovoltaic project – of over 98 million euro. We have the necessary financial resources, and our shareholders are very open to investments in Romania,” says the CEO of Nofar Energy Romania. Separately, the company has already prepared its own funds for the purchase of new projects or land.
Nofar Energy is a company specializing in the development, operation and storage of energy produced from PV plants and wind farms, listed on the Tel Aviv Stock Exchange (TASE), operating in Spain, Italy, Israel, Poland, UK and USA.
Nofar Romania is also considering other renewable energy projects. Favi Stelian is convinced that by the end of the year he will reach his goal of acquiring and developing projects with a capacity of 1 GW: “We study things very well and buy only well-developed projects that have very good long-term performance prospects.”
