N2OFF (NITO) announced potential plans to invest an additional EUR 25,000, in addition to prior loans made to Solterra Renewable Energy,to pursue the development of a new Battery Energy Storage System, or BESS, project to be co-located with its 111 MWp solar power plant currently under development in Melz, Germany, in partnership with Solterra. This initiative follows the approval of a new German regulation, which enables project owners to connect additional assets, such as battery storage, to the same grid connection as long as the approved capacity is not exceeded. Leveraging this regulatory advancement, N2OFF is exploring the development of a BESS facility with an expected capacity of 60-80 MW / 240-360 MWh, directly connected to the grid line being constructed for the Melz solar project.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NITO:
- N2OFF signs non-binding LOI with SB Impact 4, Solterra Brand Services Italy
- N2OFF closes agreement with Solterra Brand Services Italy
- N2OFF establishes U.S. subsidiary for its solar PV operations
- SciSparc signs definitive agreement to sell MitoCareX to N2OFF
- N2OFF Announces Acquisition of MitoCareX Bio Ltd.