N2OFF Inc. and Solterra Announce Potential to Increase Capacity in Solar PV Joint Venture Project
N2OFF Inc. (NASDAQ: NITO) and Solterra Renewable Energy have announced potential enhancements to their Solar PV Joint Venture Project in Meltz, Germany. Following approval for grid connection, Solterra reported that the allocation is approximately 10% greater than initially anticipated. This excess capacity presents two potential pathways to maximize value:
1. Increasing the project's capacity by up to 10%
2. Incorporating battery storage solutions
The current project design requires a 97 MW grid connection to deliver an aggregate capacity of 111 MWp. Both companies are examining these options to enhance the project's efficiency and profitability. Even without immediate pursuit of these pathways, the increased capacity could potentially lead to a higher overall valuation if the project is sold.
N2OFF Inc. (NASDAQ: NITO) e Solterra Renewable Energy hanno annunciato potenziali miglioramenti al loro Progetto di Joint Venture Solar PV a Meltz, Germania. Dopo l'approvazione per la connessione alla rete, Solterra ha riferito che l'allocazione è circa 10% superiore a quanto inizialmente previsto. Questa capacità eccedente presenta due potenziali vie per massimizzare il valore:
1. Aumentare la capacità del progetto fino al 10%
2. Integrare soluzioni di accumulo energetico
Il design attuale del progetto richiede una connessione alla rete di 97 MW per fornire una capacità totale di 111 MWp. Entrambe le aziende stanno esaminando queste opzioni per migliorare l'efficienza e la redditività del progetto. Anche senza un immediato perseguimento di queste vie, la capacità aumentata potrebbe potenzialmente portare a una valorizzazione complessiva più alta se il progetto venisse venduto.
N2OFF Inc. (NASDAQ: NITO) y Solterra Renewable Energy han anunciado posibles mejoras a su Proyecto de Joint Venture Solar PV en Meltz, Alemania. Tras la aprobación para la conexión a la red, Solterra informó que la asignación es aproximadamente un 10% mayor de lo inicialmente anticipado. Esta capacidad excedente presenta dos posibles caminos para maximizar el valor:
1. Aumentar la capacidad del proyecto hasta un 10%
2. Incorporar soluciones de almacenamiento de baterías
El diseño actual del proyecto requiere una conexión a la red de 97 MW para entregar una capacidad total de 111 MWp. Ambas empresas están examinando estas opciones para mejorar la eficiencia y rentabilidad del proyecto. Incluso sin un inmediato seguimiento de estos caminos, el aumento de capacidad podría potencialmente llevar a una valoración general más alta si el proyecto se vende.
N2OFF Inc. (NASDAQ: NITO)와 Solterra Renewable Energy가 독일 멀츠의 태양광 PV 합작 투자 프로젝트에 대한 잠재적 개선 사항을 발표했습니다. 그리드 연결 승인이 나온 후, Solterra는 배정된 용량이 약 처음 예상했던 것보다 10% 더 높다고 보고했습니다. 이 초과 용량은 가치를 극대화할 수 있는 두 가지 잠재적 경로를 제시합니다:
1. 프로젝트 용량을 최대 10%까지 증가시키기
2. 배터리 저장 솔루션 통합
현재 프로젝트 설계는 97 MW의 그리드 연결이 필요하며, 총 111 MWp의 용량을 제공합니다. 두 회사는 프로젝트의 효율성과 수익성을 향상시키기 위해 이러한 옵션을 검토하고 있습니다. 이러한 경로를 즉시 추구하지 않더라도, 증가된 용량은 프로젝트가 판매될 경우 전반적인 가치 상승으로 이어질 수 있습니다.
N2OFF Inc. (NASDAQ: NITO) et Solterra Renewable Energy ont annoncé des améliorations potentielles à leur projet de coentreprise solaire PV à Meltz, en Allemagne. Après l'approbation de la connexion au réseau, Solterra a signalé que l'allocation est d'environ 10% supérieure à ce qui était initialement prévu. Cette capacité excédentaire présente deux voies potentielles pour maximiser la valeur :
1. Augmenter la capacité du projet jusqu'à 10%
2. Intégrer des solutions de stockage par batterie
Le design actuel du projet nécessite une connexion au réseau de 97 MW pour fournir une capacité totale de 111 MWp. Les deux entreprises examinent ces options pour améliorer l'efficacité et la rentabilité du projet. Même sans une recherche immédiate de ces voies, l'augmentation de la capacité pourrait potentiellement conduire à une valorisation globale plus élevée si le projet est vendu.
N2OFF Inc. (NASDAQ: NITO) und Solterra Renewable Energy haben potenzielle Verbesserungen ihres Solar-PV-Joint-Venture-Projekts in Meltz, Deutschland, angekündigt. Nach der Genehmigung für den Netzanschluss berichtete Solterra, dass die Zuweisung ungefähr 10% höher ist als ursprünglich erwartet. Diese überschüssige Kapazität bietet zwei potenzielle Wege zur Maximalisierung des Wertes:
1. Erhöhung der Projektkapazität um bis zu 10%
2. Integration von Speichersystemen
Das aktuelle Projektdesign erfordert einen Netzanschluss von 97 MW, um eine Gesamtleistung von 111 MWp zu liefern. Beide Unternehmen prüfen diese Optionen zur Verbesserung der Effizienz und Rentabilität des Projekts. Selbst ohne unmittelbare Verfolgung dieser Wege könnte die erhöhte Kapazität potenziell zu einer höheren Gesamtbewertung führen, falls das Projekt verkauft wird.
- Approval received for grid connection in Meltz, Germany
- 10% greater grid capacity allocation than initially anticipated
- Potential to increase project capacity by up to 10%
- Possibility to incorporate battery storage solutions
- Increased capacity may lead to higher overall project valuation
- None.
Insights
The news of additional grid capacity for N2OFF and Solterra's joint venture is moderately positive. The
From an investor's perspective, this development suggests upside potential for the project's valuation. The flexibility to either expand capacity or add storage capabilities positions the venture favorably in the evolving renewable energy landscape. Yet, it's important to note that further examination is needed to determine the most profitable route, indicating that immediate financial benefits may not materialize.
The
However, the choice between these options isn't straightforward. Expanding capacity might require minimal additional investment but could face diminishing returns. Battery storage, while promising for grid balancing and energy arbitrage, involves higher upfront costs and technological considerations. The optimal decision will depend on factors like local energy market dynamics, equipment costs and long-term strategy. This development underscores the project's adaptability to changing market conditions, a positive sign for its long-term viability.
The potential
The option to incorporate battery storage is particularly intriguing, as it addresses the intermittency challenge of solar power and could potentially unlock new revenue streams through grid services. However, investors should be cautious as the renewable energy sector is highly dynamic, with evolving technologies and regulations that could impact the project's long-term profitability. While the news is positive, the real value will be determined by how effectively N2OFF and Solterra capitalize on this opportunity amidst market competition and regulatory changes.
Solterra reported that, following a thorough review of the approval, the allocation is approximately
Neve Yarak, Israel, Sept. 11, 2024 (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 the agri- tech, released today an update regarding its Solar PV Joint Venture Project with Solterra Renewable Energy Ltd. (“Solterra”). Following receiving the required approval to connect to the power grid of a regional energy service provider in Meltz, Germany, Solterra sent the Company an additional report that indicates possible avenues to potentially increase the project’s value.
The current project design requires a grid connection of 97 MW to deliver an aggregate capacity of 111 MWp. The approved grid connection capacity exceeds such requirement by approximately
The Company and Solterra are currently examining both potential pathways in hopes of determining which could enhance the project's overall efficiency and profitability.
While further examination is required to assess the viability of these pathways and to determine which could be more profitable, we believe the increased capacity adds significant potential value to the project, even if these pathways are not immediately pursued. Such potential includes a higher overall valuation of the project in the event it is sold.
David Palach, N2OFF’s CEO, added "We are excited by the possible potential this additional grid capacity could provide. We are committed to exploring these options to increase the project value and will continue in our efforts to maximize this opportunity.”
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 the 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. N2OFF also has a minority ownership in Plantify Foods, Inc., a Canadian company listed on the TSXV that offers a wide range of clean-label healthy food options. 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 Contacts:
Michal Efraty
michal@efraty.com
FAQ
What is the current grid connection requirement for N2OFF and Solterra's Solar PV project?
How much additional grid capacity was approved for the NITO Solar PV project?
What are the two potential pathways N2OFF and Solterra are considering for the excess capacity?
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