The transaction was announced in August and refers to a photovoltaic project under development, with an authorized production capacity of 155 MW, located in Argeș County. The parties have announced that the project is expected to become operational in 2023.

Nofar Energy is a public, global, and entrepreneurial company in the field of renewable energy. Founded in 2011, the company launched its IPO on the Tel Aviv Stock Exchange, in December 2020, at a value that positioned it as the third-largest renewable energy company in Israel from a market value aspect. Before that, in August 2020, the Noy Fund purchased 25% of Nofar Energy shares. The Noy Fund is Israel’s leading infrastructure fund in the field of renewable energy. The fund is involved in projects with a scope of over 8 billion euro in Israel, the UK, Spain, and Italy.

Econergy is an independent power producer of utility-scale renewable energy projects, from Israel. Present in 5 countries, Econergy has over 220 projects of solar and wind in development, totaling over 45 GW. In Romania, the company has 1,6 GW in development in 27 projects, 25 in PV (1,3 GW) and two in wind (280 MW).