- N2OFF (NITO, Financial) aims to expand its investment in Germany's Melz solar project by exploring a 40-60 MWp battery storage system.
- The German battery storage market is projected to reach $2.271 billion by 2030, with a 30.7% CAGR.
- The Melz project is set to achieve ready-to-build status by early 2026 following municipal approval in December 2024.
N2OFF, Inc. (NASDAQ: NITO) announced its plans to further enhance its renewable energy portfolio by investing in additional energy storage capabilities for its existing 111 MWp Melz solar project in Germany. The company is exploring the integration of a 40-60 MWp battery energy storage system (BESS) as part of its strategy to capitalize on Germany's rapidly expanding battery storage market.
The integration of a BESS is anticipated to improve energy retention and boost grid stability, aligning well with market projections that estimate the German battery storage market to reach a value of $2.271 billion by 2030, growing at a compound annual growth rate (CAGR) of 30.7% from 2024 to 2030. The Melz solar project, which received approval from the Municipal Committee in December 2024, is anticipated to become ready-to-build by early 2026.
This initiative reflects N2OFF's commitment to enhancing its renewable energy initiatives through a strategic partnership with Solterra Renewable Energy Ltd. The collaboration includes other significant projects such as two 98 MWp/392 MWh BESS projects in Sicily, a 35 MW/140 MWh BESS project in Poland, and solar projects in Albania. These projects aim to stabilize and diversify N2OFF's investment into high-potential renewable energy facilities across Europe.
By integrating advanced battery storage technology, N2OFF seeks to harness energy arbitrage strategies, optimizing revenue by storing excess solar energy or purchasing electricity during low-demand periods for sale during higher demand phases. This move is part of a broader effort by the company to position itself at the forefront of the European renewable energy sector, emphasizing the importance of energy storage solutions in maximizing profitability and operational efficiency.
