N2OFF provides business update on solar, energy storage initiatives

N2OFF (NITO) announced progress in its solar and energy storage initiatives, highlighting the execution of key projects in Germany, Italy, and Poland. Through its strategic partnership with Solterra Renewable Energy, N2OFF is advancing a robust portfolio of renewable energy projects, reinforcing its commitment to driving the global clean energy transition. Melz Solar PV Project – Germany: Description: A flagship 115 MWp solar photovoltaic project in Melz, Germany, developed in collaboration with Solterra Renewable Energy. Current Status: The project achieved a critical milestone with approval from the Melz Municipal Committee for its statutory plan on December 31, 2024, following a comprehensive review of environmental and planning implications. The project has entered the hearing process, a final stage before achieving ready-to-build status, targeted for 2026. Additionally, the project has secured grid connection through E.dis, the regional electricity operator. N2OFF and other lenders have recently provided funding to Solterra in the amount of EUR 600,000 in addition to supporting the integration of a 107 MW/214 MWh “green” battery energy storage system, designed to optimize electricity sales and provide grid services. Future Potential: The additional grid capacity could increase the project’s scale by up to 10%, further boosting its economic and environmental impact. Sicily Battery Energy Storage Systems – Italy: Description: N2OFF holds 70% of two Battery Energy Storage Systems projects in Sicily, Italy, each with a capacity of 98 MWp/392 MWh, developed by Solterra Brand Services Italy. Current Status: Both projects have secured connection capacity approval from Terna SpA, Italy’s transmission system operator, marking a significant step toward development. The projects are in the development phase, with an expected timeline of 18-24 months to reach RTB status, projected for mid-2027. Future Timeline: The projects are in the development phase, with an expected timeline of 18-24 months to reach RTB status, projected for mid-2027. N2OFF has committed significant resources to its renewable energy portfolio, including EUR 600,000 in recent debt financing for the Melz BESS integration, with a 7% annual interest rate and a 25% profit-sharing agreement after loan repayment. The company’s joint venture with Solterra, initiated in 2024, targets a total portfolio capacity of approximately 300 MW across Germany, Italy, with additional future projects in development across Europe.