Nofar USA Acquires 400 MWh Ready-to-Build BESS Project on US Brownfield Site for ~$230 Million
Nofar USA has acquired a 400 MWh battery energy storage project on a brownfield site in the United States, with a grid interconnection agreement in place and a 15-year offtake agreement being finalised. Total project cost is approximately $230 million, with construction expected within 12 months and commercial operation planned by end of 2028.
Transaction date: · Source: businesswire.com
Key facts
- Transaction date
- Technology
- Battery Storage (BESS)
- Transaction price
- 230 million (currency as reported in the source)
- Buyer
- Nofar Energy
- Country
- United States
- Location
- Brownfield site, United States (exact location not disclosed)
- Continent
- North America
- Development status
- Ready-to-Build
- PPA
- Yes
Technology details
Approximately 400 MWh battery energy storage system located on a brownfield site. Site plan approval secured and grid interconnection agreement executed. Construction expected to begin within 12 months, with commercial operations planned by end of 2028. Total project cost approximately $230 million USD.
Power purchase agreement (PPA)
15-year offtake agreement in the process of being signed. Further details not disclosed.
Additional information
Seller not disclosed. 15-year offtake agreement in the process of being signed. Nofar USA is the US platform of Nofar Energy, an Israeli-listed global renewable IPP (TASE, market cap ~$3 billion) active in Israel, Europe and the United States. Price converted: $230 million USD is approximately €211 million at prevailing rates. Capacity stated is energy capacity (MWh); power capacity (MW) not disclosed.
Source
Original announcement: https://www.businesswire.com/news/home/20260716604025/en/Nofar-USA-Adds-Another-Mega-Project-400-MWh-Of-Battery-Storage-Ready-to-Build