● Nofar Energy and Sungrow signed heads of terms for supply and service agreements for the 116,5MW / 230MWh BESS (Battery Energy Storage System) project in Stendal, Saxony-Anhalt, Germany.
● The project will be the first in Germany, utilizing the latest, liquid-cooled energy storage system PowerTitan2.0, providing excellent efficiency, outstanding safety and lower CAPEX and OPEX costs.
● Sungrow initiates its first ESS global partnership with Nofar Energy for the groundbreaking Germany-Based Energy Storage Project
Munich, Germany, May 10, 2024 - Sungrow, the global leading PV inverter and energy storage system provider, is pleased to announce the signing of heads of terms for supply and service agreements for a new BESS project with Nofar Energy. The project will be constructed in Stendal, Saxony-Anhalt, Germany and will utilize the latest BESS of Sungrow, the PowerTitan2.0, which was presented for the first time in Europe, at the "Power Up Your Future - Sungrow PowerTitan2.0 Experience Day" on March 7th 2024, in Madrid, Spain.
Sungrow’s innovative system is definitely one of the highlights of this exciting venture that will provide up to 230MWh of energy storage. PowerTitan2.0 liquid-cooled ESS, will be utilized for the first time in Germany, with the system seamlessly integrating the 2.5MW Power Conversion System (PCS) and 5MWh battery into a single 20-ft container. Its pioneering technology not only enhances efficiency and safety but also significantly reduces both capital expenditure (CAPEX) and operational expenditure (OPEX) costs.
The development of ESS projects in Europe is at a fast pace. According to S&P Global Commodity Insights over 140 GW are predicted to be installed between 2024 and 2030. Germany is committed to the energy transition to renewables to source 80% of energy production by renewables sources by 2030{1}. ESS projects are expected to play a key role in supporting this objective, providing more efficient use of renewables and grid stability.
"This project represents yet another significant milestone for Sungrow as we persist in delivering state-of-the-art energy solutions," remarked Mr. Tzvi Ben David, Country Manager of Sungrow. Our long-term partnership with Nofar Energy underscores our dedication to advancing clean and dependable energy storage solutions. The cooperative synergy with our colleagues in Europe not only bolsters our support network but also offers robust solutions for international projects like the one in Stendal, Germany."
"We are thrilled to announce our collaboration with Sungrow and express our sincerest appreciation to the Sungrow team for their dedicated efforts in facilitating this partnership. This collaboration signifies a significant expansion of our company's supplier network, particularly in the field of BESS.
This substantial purchase deal underscores our continuous growth trajectory, as evidenced by our recent reports. Over the past three years, we have successfully initiated and commissioned over 1 GW of solar projects across six different countries, with impressive returns. Moreover, Nofar stands as a prominent player in the electricity storage sector, boasting 1.1 GWh in operation and under construction, and a total storage portfolio of 7.5 GWh.
As we move forward, we remain committed to sustaining our accelerated growth momentum while leveraging our expertise in BESS to drive excess returns," remarked Nofar Energy's Chairman, Ofer Yannay.
The PowerTitan ESS series has accomplished impressive shipments in 2023 exceeding 10.5 GWh worldwide. The recent addition of PowerTitan2.0 does not replace PowerTitan1.0 but rather offers an additional solution, showcasing Sungrow's dedication to innovating across various technologies. This enhances the diversity and adaptability of our energy storage systems, ensuring they meet the diverse needs of different scenarios.
{1} https://www.cleanenergywire.org/news/germanys-aim-80-percent-renewables-electricity-2030-well-within-reach-minister
About Sungrow
Sungrow Power Supply Co., Ltd. (“Sungrow”) is a global leading PV inverter and energy storage system supplier with over 515 GW of power electronic converters installed worldwide as of December 2023. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial & industrial, and residential applications, as well as internationally recognized floating PV plant solutions, NEV driving solutions, EV charging solutions and renewable hydrogen production systems. With a strong 27-year track record in the PV space, Sungrow products power over 170 countries worldwide. For more information about Sungrow, visit: www.sungrowpower.com.
About Nofar Energy
O.Y. Nofar Energy Ltd, ("Nofar"), stands as a leading global Independent Power Producer, publicly traded and revered for its contributions to the renewable energy sector.
Internationally recognized, Nofar specializes in the development, construction, financing, and electricity trading related to solar and storage facilities, which it owns and operates. Currently, Nofar boasts an impressive operational and under-construction capacity of 2.1 GW in solar energy and 1.1 GWh in storage capacity.
Nofar maintains a strong presence in ten countries across three continents, solidifying its position as a key player in the global energy market.
Nofar's commitment to excellence is underscored by its listing on the Tel Aviv Stock Exchange (TASE) under the ticker symbol IL0011708778 – NOFR. Notably, the company is a constituent of both the TA-125 Index and the TA-Cleantech Index, highlighting its significant influence in the global energy landscape.