Israeli Firm Ventures Into Poland's Renewable Energy Sector

After launching operations in the US, Spain, Romania, and Italy in the past few months, Israel’s Nofar Energy has entered Poland’s renewable energy market, Deutsche Presse-Agentur (dpa) reported.

Photo Insert: A wind farm in Poland

It said Nofar Europe, which it owns 90%, executed an agreement with Electrum S.P. Z O.O on a joint venture to initiate, develop, manage and maintain photo-voltaic and wind energy projects with a capacity of up to 1,250 megawatts (MW).

The two companies will co-manage the joint venture, including identifying opportunities for renewable energy in Poland, initiation as well as the development, acquisition of greenfield, and renewable energy projects. Nofar Europe will own 80% of the joint corporation and Electrum the remaining 20%.

Electrum is a leading consulting, engineering, and technology company in the Polish market. An independent power producer (IPP), it prepares, implements, launches, operates, and maintains investment projects in the renewable energy sources (RES) sector.

It also manages energy assets, such as wind and photo-voltaic farms, cogeneration systems, energy storage, and hydrogen facilities.

Electrum CEO Dr. Miroslaw Poplawski said “the joint venture with Nofar Energy perfectly fits into the implementation of our long-term strategy based on IPP energy and information business formula and focused on co-creating an alternative energy system. I’m really impressed by Nofar’s vision, innovative thinking, and extraordinary business success way.

For sure partnership with Nofar Energy shall generate a very strong positive impact on the RES market in Poland and create exceptionally attractive results for both companies including speed-up of our business development and high profits.”

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