NoFar Energy revolutionizes energy storage: First fixed price contract in Europe!
NoFar Energy revolutionizes energy storage: First fixed price contract in Europe!
A groundbreaking business in the world of renewable energies: NoFar Energy, an innovative Israeli company and independent electricity generator, has signed a seven-year fixed price flexibility contract for its latest battery storage project in Germany, the Stendal Battery Energy Storage System. With an output of 104.5 megawatts and a storage capacity of 209 megawatt hours, it is the first such contract in continental Europe. According to apa -ots ensures this Agreement NoFar Energy A stable and predictable income current of an estimated 85 to 95 million euros over the contract term from 2027 to 2033, including the option on an earlier start before January 2027.
The contract was concluded with a leading, global energy company that has an investment grade rating and is active in the entire energy value chain, such as PV Mag reported. CEO Nadav Tenne described the contract as crucial for the financial stability of the company. The fixed price agreement offers protection against the unpredictable fluctuations of the market and enables a better financing structure for future projects. This is particularly important because the energy storage market in Europe is still in the development phase.
In addition to this conclusion of the contract, NoFar recently completed a financing of £ 152 million for another project in Great Britain, which underlines the company's commitment in the area of renewable energies and battery storage. Nofar Energy plans to use its extensive know-how and its market presence in order to continue to establish innovative fixed price contracts for further battery storage projects in the future. This will continue to play a leading role in the area of energy storage and promote the development of stable financing models.| Details | |
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| Ort | Stendal, Deutschland |
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