N2OFF and Solterra Announce the Closing of a Definitive Agreement to Develop 196 MWp Battery Storage Projects in Italy
N2OFF (NASDAQ: NITO) has announced the closing of a definitive agreement with Solterra Renewable Energy's Italian subsidiary for the development of two Battery Storage (BESS) systems in Sicily, Italy. Each system will have a capacity of 98MWp/392MWh, totaling 196MWp.
The agreement involves a total investment of up to €2.3 million, to be paid in milestones, with N2OFF holding a 70% ownership stake. These projects are part of N2OFF's broader joint venture with Solterra, focusing on solar and energy storage initiatives. The projects have received connection capacity approval from Terna SpA and are expected to reach Ready-to-Build stage within 18-24 months.
This development aligns with Italy's MACSE scheme, which plans to conduct its first energy storage capacity auctions in H1 2025, offering 15-year contracts. Currently, N2OFF is committed to investing up to €4.4 million in projects across Germany and Italy for a total capacity exceeding 300 MW.
N2OFF (NASDAQ: NITO) ha annunciato la chiusura di un accordo definitivo con la filiale italiana di Solterra Renewable Energy per lo sviluppo di due sistemi di accumulo di energia (BESS) in Sicilia, Italia. Ogni sistema avrà una capacità di 98MWp/392MWh, per un totale di 196MWp.
L'accordo prevede un investimento totale di fino a €2,3 milioni, da corrispondere in traguardi, con N2OFF che detiene una partecipazione del 70%. Questi progetti fanno parte della più ampia joint venture di N2OFF con Solterra, incentrata su iniziative di energia solare e accumulo. I progetti hanno ricevuto l'approvazione della capacità di connessione da Terna SpA e si prevede che raggiungano la fase di Pronto per Costruire entro 18-24 mesi.
Questo sviluppo è in linea con il piano MACSE dell'Italia, che prevede di condurre le sue prime aste per la capacità di accumulo di energia nel primo semestre del 2025, offrendo contratti di 15 anni. Attualmente, N2OFF è impegnata a investire fino a €4,4 milioni in progetti in Germania e Italia per una capacità totale superiore ai 300 MW.
N2OFF (NASDAQ: NITO) ha anunciado el cierre de un acuerdo definitivo con la filial italiana de Solterra Renewable Energy para el desarrollo de dos sistemas de Almacenamiento de Batería (BESS) en Sicilia, Italia. Cada sistema tendrá una capacidad de 98MWp/392MWh, totalizando 196MWp.
El acuerdo implica una inversión total de hasta €2,3 millones, que se pagará en hitos, con N2OFF manteniendo una participación del 70%. Estos proyectos son parte de la joint venture más amplia de N2OFF con Solterra, enfocándose en iniciativas de energía solar y almacenamiento. Los proyectos han recibido la aprobación de capacidad de conexión de Terna SpA y se espera que alcancen la etapa de Listo para Construir dentro de 18-24 meses.
Este desarrollo se alinea con el esquema MACSE de Italia, que planea realizar sus primeras subastas de capacidad de almacenamiento de energía en la primera mitad de 2025, ofreciendo contratos de 15 años. Actualmente, N2OFF está comprometida a invertir hasta €4,4 millones en proyectos en Alemania e Italia para una capacidad total que supera los 300 MW.
N2OFF (NASDAQ: NITO)는 이탈리아 시칠리아에서 두 개의 배터리 저장 시스템(BESS)을 개발하기 위해 Solterra Renewable Energy의 이탈리아 자회사와 최종 계약을 체결했다고 발표했습니다. 각 시스템은 98MWp/392MWh의 용량을 가지며, 총 196MWp에 달합니다.
이번 계약은 최대 €2.3백만 유로의 총 투자와 관련이 있으며, 마일스톤에 따라 지급될 예정이며, N2OFF는 70%의 지분을 보유하고 있습니다. 이 프로젝트들은 N2OFF가 Solterra와 함께 진행하는 더 큰 합작 투자 프로젝트의 일환으로, 태양광 및 에너지 저장 이니셔티브에 초점을 맞추고 있습니다. 이 프로젝트는 Terna SpA로부터 연결 용량 승인을 받았으며, 18-24개월 이내에 건설 준비 단계에 도달할 것으로 예상됩니다.
이 개발은 이탈리아의 MACSE 계획과 일치하며, 2025년 상반기에 첫 번째 에너지 저장 용량 경매를 실시할 예정이며, 15년 계약을 제공할 것입니다. 현재 N2OFF는 독일 및 이탈리아의 프로젝트에 대해 총 300MW를 초과하는 용량을 위해 최대 €4.4백만 유로를 투자할 계획입니다.
N2OFF (NASDAQ: NITO) a annoncé la conclusion d'un accord définitif avec la filiale italienne de Solterra Renewable Energy pour le développement de deux systèmes de stockage d'énergie par batterie (BESS) en Sicile, Italie. Chaque système aura une capacité de 98MWp/392MWh, totalisant 196MWp.
L'accord implique un investissement total pouvant atteindre 2,3 millions d'euros, à verser par étapes, N2OFF détenant une participation de 70%. Ces projets font partie de la joint venture plus large de N2OFF avec Solterra, axée sur les initiatives solaires et de stockage d'énergie. Les projets ont reçu l'approbation de la capacité de connexion de Terna SpA et devraient atteindre le stade prêt à construire dans les 18 à 24 mois.
Ce développement s'inscrit dans le cadre du programme MACSE de l'Italie, qui prévoit de réaliser ses premières enchères de capacité de stockage d'énergie au premier semestre 2025, offrant des contrats de 15 ans. Actuellement, N2OFF s'engage à investir jusqu'à 4,4 millions d'euros dans des projets en Allemagne et en Italie pour une capacité totale dépassant 300 MW.
N2OFF (NASDAQ: NITO) hat den Abschluss eines endgültigen Vertrags mit der italienischen Tochtergesellschaft von Solterra Renewable Energy zum Bau von zwei Batteriespeichersystemen (BESS) in Sizilien, Italien, bekannt gegeben. Jedes System wird eine Kapazität von 98MWp/392MWh haben, insgesamt also 196MWp.
Der Vertrag umfasst eine Gesamtinvestition von bis zu €2,3 Millionen, die in Meilensteinen gezahlt wird, wobei N2OFF eine Beteiligung von 70% hält. Diese Projekte sind Teil eines umfassenderen Joint Ventures von N2OFF mit Solterra, das sich auf Solar- und Energiespeicherinitiativen konzentriert. Die Projekte haben die Genehmigung zur Anschlusskapazität von Terna SpA erhalten und sollen innerhalb von 18-24 Monaten die Baubereitschaft erreichen.
Diese Entwicklung steht im Einklang mit dem MACSE-Programm Italiens, das plant, im ersten Halbjahr 2025 seine ersten Auktionen zur Kapazität von Energiespeichern durchzuführen und 15-Jahres-Verträge anzubieten. Derzeit verpflichtet sich N2OFF, bis zu €4,4 Millionen in Projekte in Deutschland und Italien zu investieren, um eine Gesamtkapazität von über 300 MW zu erreichen.
- Secured 70% ownership in two large-scale BESS projects totaling 196MWp in Italy
- Projects already received grid connection approval from Terna SpA
- Potential revenue opportunity through Italy's upcoming MACSE 15-year contract auctions
- Strategic expansion into European energy storage market
- Significant development timeline of 18-24 months before reaching Ready-to-Build stage
- Additional capital investment of €2.3 million required for project development
Insights
The strategic acquisition of two 98MWp/392MWh BESS projects in Sicily represents a calculated entry into Italy's evolving energy storage market. The timing is particularly advantageous with Italy's upcoming MACSE auctions in H1 2025, which will offer 15-year contracts providing long-term revenue stability - a important factor for project bankability and investor confidence.
The
Sicily's location presents unique advantages for energy storage deployment:
- High solar penetration creating significant price volatility and arbitrage opportunities
- Strategic position in the Mediterranean power market
- Growing industrial demand for reliable power supply
The 18-24 month development timeline to Ready-to-Build status aligns with market maturation and the MACSE implementation schedule. This positions N2OFF to potentially participate in early auction rounds, potentially securing premium pricing as an early mover.
The broader context of N2OFF's
CURRENTLY N2OFF IS COMMITTED TO invest up to €4.4 million in projects located in Germany and Italy for total capacity of over 300 MW
Neve Yarak, Israel, Feb. 24, 2025 (GLOBE NEWSWIRE) -- N2OFF, Inc.\ (NASDAQ: NITO) (FSE:80W) (“N2OFF” and the “Company”), a clean tech company engaged in sustainable solutions for energy and innovation for agri- tech, announced today the closing of a definitive agreement with Solterra Renewable Energy Ltd’s subsidiary, Soltera Brand Services Italy , a company that specializes in the origination and development of renewable energy projects in Italy According to the agreement, the purchased projects relate to 2 Battery Storage ("BESS") systems in Sicily, Italy, each with a capacity of 98MWp/392MWh.
The agreement includes the purchase and development of the projects, with a total investment of up to
These projects are part of the broader joint venture between N2OFF and Solterra Renewable Energy Ltd., which focuses on solar and energy storage initiatives. The collaboration reflects the companies 'shared vision of advancing renewable energy adoption and addressing the increasing demand for energy storage solutions to enhance grid flexibility.
As more renewable projects are coming online, the storage market is in demand and is crucial for grid flexibility. According to DNV (https://www.dnv.com/) a global leading consultancy firm,in their report on Energy Transition 2024, "as storage capacity surpasses
The current 2 BESS projects have already received approval for the connection capacity from Terna SpA (the Italian transmission company), which will be secured simultaneously with the closing of the transaction. The development is currently expected to take 18-24 months for these projects to reach a Ready-to-Build stage.
About N2OFF Inc:
N2OFF, Inc. (formerly known as Save Foods, Inc.) is a clean tech company engaged in sustainable solutions for energy and innovation for agri- tech. Through its operational activities it delivers integrated solutions for sustainable energy, greenhouse gas emissions reduction and safety, quality solutions for the agri- tech market. NTWO OFF Ltd., N2OFF's majority-owned Israeli subsidiary, aims to contribute in tackling greenhouse gas emissions, offering a pioneering solution to mitigate nitrous oxide (N2O) emissions, a potent greenhouse gas with 310 times the global warming impact of carbon dioxide. NTWO OFF Ltd., aims to promote agricultural practices that are both environmentally friendly and economically viable. N2OFF recently entered the solar PV market and will provide funding to Solterra Renewable Energy Ltd. for the current project in the total Capacity of 111 MWp, as well as potential future projects. Save Foods Ltd., N2OFF's majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination.. For more information on Save Foods Ltd. and NTWO OFF Ltd. visit our website: www.n2off.com.
Forward-looking Statements:
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties including the success of our collaboration with Solterra, entry into future projects, our ability to successfully enter the solar PV sector, the profitability of such industry, and the potential added value of the increased capacity. Actual results, performance or achievements could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including market conditions as well as those discussed under the heading “Risk Factors” in N2OFF’s Annual Report on Form 10-K filed with the SEC on April 1, 2024, and in any subsequent filings with the SEC. Except as otherwise required by law, we undertake no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. We are not responsible for the contents of third-party websites.
Investor Relations Contact:
Michal Efraty
michal@efraty.com
FAQ
What is the total capacity of N2OFF's (NITO) new battery storage projects in Sicily?
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