Nofar Energy plans 1.5 GW renewables portfolio in Romania for 2023

Renewable energy company Nofar Energy has acquired a 73 MW solar project in Romania, in a push to purchase, develop, and install solar power plants and wind farms with a total capacity of 1.5 GW in 2023.

The 73 MW photovoltaic project is located in Slobozia, Giurgiu County, and it will be all set for construction in the first part of 2023. Nofar Energy intends to increase its capacity to up to 130 MWp, but the final decision will depend on the technical conditions of Romania’s electricity grid, local media reported.

Nofar Energy, based in Israel, already has in its portfolio in Romania projects with a capacity of over 600 MWp, but it plans to acquire, develop, and construct solar photovoltaic facilities and wind farms with a combined capacity of 1.5 GW.

The company intends to put online 600 MWp in 2024-2025

Nofar has secured EUR 500 million for the projects already in the pipeline for the next two years, but it also has additional funds for new deals which include the purchase of projects or land for their installation.

The company intends to put online its 600 MWp portfolio in 2024-2025, and it is close to starting production in the 155 MW Rătești solar park.

The company is developing the largest PV plant in Romania

Favi Stelian, CEO of Nofar Energy Romania, said that the Rătești project is in the final stage of construction and that the connection to the grid is expected soon. Rătești represents the largest investment in renewable energy in Romania, he added.

Nofar, together with its project partner, is close to starting the construction of a 255 MW Iepuresti solar power plant. It will be the largest PV plant in Romania, and the plan is to put into operation by the end of 2023.

Nofar Energy is doing business in Israel, Italy, Poland, Romania, Spain, the UK, and the US. It currently has 827 MW of solar power plants online or ready to connect, and storage projects with a total capacity of 1,024 MW, according to its website.