- N2OFF (NITO, Financial) enters the Polish renewable energy market with a Battery Energy Storage System project.
- Initial capacity planned at 35MW/140MWh, with a potential expansion to over 100MW/400MWh.
- N2OFF to receive 15% of net profits, with repayment expected within 30 months.
N2OFF (NASDAQ: NITO), a clean tech company focused on sustainable energy solutions, has announced its entry into the Polish renewable energy market. The company is participating in the financing of a Battery Energy Storage System (BESS) project through Solterra. This marks an expansion of N2OFF's efforts to support grid-scale energy storage infrastructure in Europe.
The project is initially set at a capacity of 35MW/140MWh. There are plans to further enhance the capacity to over 100MW/400MWh, reflecting a significant investment in Poland's renewable energy sector. This venture is Solterra's fourth BESS development, supporting projects also in Germany and Italy.
N2OFF is one of four parties providing financing for this project. The structured financing agreement anticipates repayment within a period of up to 30 months following the project's sale. In terms of profit share, N2OFF is entitled to 15% of the net profits from the transaction.
David Palach, CEO of N2OFF, emphasized the strategic importance of entering the Polish market, stating "This entry into Poland aligns with our strategy to expand into high-potential renewable energy projects in different markets." He further noted that "Grid-scale energy storage is essential for enabling a stable, low-carbon energy future."
N2OFF's investment in the Polish BESS project aligns with its broader strategy to expand its presence in renewable energy markets with high growth potential, while supporting the development of critical energy storage infrastructure. This move underlines the company’s commitment to sustainable energy solutions and innovation within the sector.
