The companies Mivna Real Estate and Nofar Energy are deepening their cooperation. The two companies have signed an agreement for the construction of solar energy storage facilities in Mabana properties, with a total capacity that is expected to reach up to 400 MW. 25%.
This partnership joins the existing activities of the two companies in the field of solar energy, in the framework of which solar roofs have been installed on hundreds of buildings throughout the country. The companies are expected to soon complete an installation on approximately 290 roofs with a total capacity of approximately 38 megawatts, which will be connected to the electricity grid and are expected to generate an income structure of approximately NIS 31 million per year.
The storage facilities under the current agreement will be built on real estate building properties throughout the country. The companies estimate that after the completion of the installation, the expected annual income from these facilities will be NIS 75 million per year in the coming years and annual EBITDA of NIS 55 million.
Nadav Tene, CEO of Nofar Energy, noted that “Nofar Energy’s early evaluations in the field of storage, including the establishment of an internal professional system and the signing of strategic procurement agreements, allow the company to establish storage facilities at significant volumes and high returns, thus bringing significant value to its partnerships.”
Dudu Zabida, CEO of Building Real Estate: “The partnership with Nofar in the field of renewable energy has proven successful; Currently, we have installed solar systems in a short period of time, which already generate us a fixed income of tens of millions of shekels a year. In light of the prosperity of the field of renewable energy, we are deepening our hold on it, the construction of storage facilities will enable additional fixed income that will expand the company’s sources of income. “