Nufar Energy continues to expand its global operations and increase its portfolio of projects in Romania through the local entrepreneurship platform, which deals with the initiation, development, construction, financing, management and holding of renewable energy projects in Romania. Over the past year the company has continued to develop the platform including recruiting a local management team, building development teams, appointing dedicated consultants in various fields and expanding the activities and portfolio of projects.
This morning the company reports the entry into another significant project with an installed capacity of 169 megawatts. The project consists of two solar projects that are in close proximity, for one of which a connection certificate (ATR) has already been received and for the other a connection certificate is expected to be received in the coming weeks. In addition, the company received an option to enter additional projects with an installed capacity of 231 megawatts (a total of 400 megawatts). The total projected construction costs of the project are approximately NIS 454 million, and it is expected to generate annual revenues of approximately NIS 60 million. And an annual EBITDA of approximately NIS 52 million. The company is expected to begin construction of the project after receiving the required approvals, and it is expected to connect to the electricity grid during 2024.
Nadav Tene: “We are pleased to update this morning on another significant transaction in our local development platform in the renewable energy market in Romania. This transaction joins an existing project under construction, as part of the successful partnership with Aconergy, and other projects promoted in “Accelerated and excess return, along with the model of local development platforms, and the expertise we have developed in the areas of financing and trading in electricity are expected to continue the accelerated growth rate and high profitability that the company presents in its various activities.”