Israeli Nofar Energy invests EUR 135 mln in 255MW PV park in Romania

Nofar Energy, a company listed on the Tel Aviv Stock Exchange (TASE), announced the entry of another significant project with a capacity of 255MWp in Romania.

The project is in the advanced stages of development. It will be built on 290 hectares of land in southern Romania near a high-voltage power line that will allow the direct flow of the electricity produced, Marketscreener.com reported.

The company's share of holdings in the project will be 85.5%-90%, with total projected construction costs of EUR 135 mln, and expected to generate annual revenues of EUR 27 mln and annual EBITDA of EUR 24 mln.

Nofar expects to begin construction of the project after receiving the required approvals in 2023.

Nofar's total projects portfolio in Romania stands at 579MWp, including the Ratesti project, with an installed capacity of 155MWp, which is in advanced stages of construction, and the Iepuresti project, with an installed capacity of 169MWp, which is in advanced development and licensing stages.

(Photo source: Lovelyday12/Dreamstime.com)