Nofar Energy expands the collaboration with Tesla

Tel Aviv, Israel (OTS) – –News Direct–

Nofar Energy expands further its collaboration with Tesla: the company reported today it had entered a second framework agreement with Tesla on purchasing battery stored power systems with a total capacity of 200 megawatts for $54 million. Under the agreement, Nofar will pay 5% of the consideration on the contract signing date and the balance according to predefined milestones. The storage systems will be supplied from January 2023 through March 2024.

This second agreement entered by Nofar and Tesla brings the total capacity of the storage systems to be built as part of the collaboration to 300 MW/h. Most of the storage systems covered by the first agreement entered in February 2021 for 100 MW/h are under or nearing construction. Given the fast implementation pace of the first agreement and the considerable demand, Nofar Energy decided to expand the collaboration with an additional contract for a larger capacity.

Dikla Ivry Pardnoy

+972 52-380-4085

dikla@ivripr.com

Company Website

https://www.nofar-energy.com/

Nofar Energy

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