Nofar Energy is implementing the Buxton electricity storage project in the UK, which is expected to be connected to the electricity grid in 2023
Nofar Energy is implementing the Buxton electricity storage project in the UK, which is expected to be connected to the electricity grid in 2023
The project, which will be carried out as part of the platform designated for Nofar Energy and the Interland Group, is expected to have a capacity of 30 megawatts of electricity per hour and a storage capacity of about 60 megawatts of electricity per hour. The construction costs of the project are expected to be NIS 86 million and it is expected to yield NIS 17 million each year.
This project is part of the UK electricity storage platform set up by Nofar Energy in 2021 in partnership with the Interland Group. As part of the partnership, Nofar Energy is expected to develop additional electricity storage projects in the UK with significant supplies.
The dedicated joint platform of Nofar Energy and the Interland Group deals with the initiation, development, construction, financing, management and holding of various electricity storage projects, with Nofar Energy holding 75% of the ownership of the joint corporation and the Interland Group the remaining 25%.
In recent months, the joint venture has developed the storage platform, recruited a senior management team, appointed dedicated consultants in various fields and most importantly – expanded its activities and portfolio of projects and entered the largest electricity storage project in the kingdom with a storage capacity of 760 megawatts of electricity per hour
Nofar Energy continues its activities in Israel in various projects, for example:
- Construction and connection of the first electricity storage facility in Israel located in Kibbutz Nir Yitzhak
- Signing of strategic procurement agreements with leading manufacturers of batteries for electric vehicles, for example an agreement with Tesla 300 megawatts of electricity per hour
- Connection to the electricity grid The first storage facility of the Tesla company in Israel, located in Kibbutz Shoval
- Construction of dozens of storage facilities across the country that are expected to be connected to the electricity grid by the end of 2022 and provide 100 megawatts of electricity every hour
- An agreement in partnership with Mivna Real Estate for the initiation, construction and maintenance of a storage project that is considered to be the largest of its kind in Israel and is expected to provide 400 megawatts of electricity per hour
Nofar Energy CEO Nadav Tene said that this project joins other projects of the company he heads, projects that are in advanced stages of initiation and construction with various partnerships and are expected to provide 1.5 gigabytes of electricity every hour.
He promised that Nofar Energy will continue to lead the field of energy storage, while leveraging the company’s entrepreneurial capabilities and the supporting organizational infrastructure that includes a global operational and engineering system.