Israeli green energy company Nofar Energy has signed an agreement with Polish independent power producer (IPP) Electrum to build 1.25GW of renewable energy production capacity in Poland. The two companies will establish a joint venture (JV) to initiate, develop and maintain photovoltaic (PV) and wind energy projects.

Poland develops photovoltaic energy projects

Nofar will hold 80% of the joint venture and Electrum will hold the remaining 20%. The cooperation with Electrum is in line with Nofar's strategic plan, and it follows the company's operations in the United States, Spain, Italy and Romania.

NadavTenne, CEO of NofarEnergy, said: “As part of implementing our strategic plan to expand global traction, we have invested in in-depth research on the Polish market in the past few months and carefully evaluated several alternatives to start operations there. Therefore, , We chose to establish a joint venture with Electrum because of its rich experience in renewable energy, mature capabilities in the development and establishment of complex infrastructure projects, and the high level of its executives and employees. I am excited about the new partnership , And congratulate our new partners in Electrum, and hope that we will succeed in the new joint venture." Keywords: engineering construction, engineering news

Nofar Energy and Electrum have agreed to manage the joint venture, including identifying development opportunities for renewable projects and purchasing green space and renewable energy projects in Poland. Dr. Miroslaw Poplawski, CEO of Electrum, said: “The joint venture with Nofar Energy is fully in line with the implementation of our long-term strategy, which is based on the IPP energy and information business formula and focuses on co-creating alternative energy systems. It is certain that the joint venture with Nofar Energy The cooperation will have a very strong positive impact on Poland’s renewable energy market, and create attractive results for the two companies and accelerate business development.Editor/XingWentao