The tax partner will set the amount to finance solar projects combined with storage, which will be built by the Blue Sky Group and will allow the construction of new projects amounting to $ 120 million
This morning, Nofar Energy reports that the Blue Sky Group has entered into a strategic framework agreement with a tax partner, which will provide $ 40 million to finance new solar projects combined with storage, which will be built by the group. This is an agreement of strategic importance to Blue Sky, which indicates the expression of trust by the tax partner in the company, with which Blue Sky has established a number of projects in the past, and which will give the company stability and security in relation to financing alternatives. It should be noted that the engagement in the agreement is expected to enable the construction of new projects amounting to approximately $ 120 million, when as part of the engagement in the agreement, the tax partner made the first investment in two projects owned by the company.
A few months ago, Nofar Energy entered the US renewable energy market in a significant move, acquiring 67% of the rights in the Blue Sky Group, which initiates, manages, builds and maintains solar projects on the roofs of commercial buildings and storage systems in the US. The group focuses on collaborations with commercial real estate-intensive entities, the construction of solar systems on the roofs of their properties and the sale of electricity produced to tenants. Wholesale tariffs are the wholesale tariff accepted in PPAs, and Blue Sky focuses mainly on areas where electricity tariffs and / or green certificate prices are higher than the market average.
Nadav Tene, CEO of Nofar Energy “The signing of the agreement with the tax partner is a significant milestone for the Blue Sky Group, and will allow a leap forward in the scope of its activities. This is a strategic engagement with a significant body that will enable the continuation of large-scale transactions. This is an important step in implementing the action plan we formulated after completing the Blue Sky deal several months ago. I am convinced that the combination of the profitable segment, the unique business model, the entrepreneurial and financing capabilities including through tax partners, as well as the high synergy to “Nufar Energy” will lead to tremendous growth, implementation of hundreds of high-yield megawatts over the coming years, and a significant jump in Blue Sky value.