Nofar adds $230M battery project as grid storage scales
The ready-to-build 400MWh project already has planning approval and a grid connection, although its long-term offtake agreement remains under negotiation.
Nofar USA has acquired a 400MWh battery-storage project valued at approximately $230M, adding a relatively advanced asset to its growing US energy portfolio.
What happened
The project is located on brownfield land and already has planning approval and a grid-interconnection agreement. Nofar says it is negotiating a 15-year offtake contract.
Construction is expected to begin within 12 months, with commercial operation targeted for the end of 2028. The project joins Nofar’s existing US solar and storage pipeline.
The acquisition price was not disclosed. The $230M figure represents the company’s estimated total project cost rather than the purchase price.
Why it matters
Grid connections have become one of the most valuable assets in energy development. Many projects wait years for approval to connect, so acquiring a ready-to-build site can remove a major source of delay.
Large batteries can absorb electricity when supply is abundant and release it during peak demand. That helps integrate renewable power, stabilise the grid and reduce reliance on gas-fired peaker plants.
The bigger picture
Energy storage is shifting from small demonstration projects toward infrastructure financed and operated at utility scale. The project’s readiness is a strength, but its economics still depend on the final offtake agreement, construction costs and future power-market revenues.
Nofar must also manage equipment procurement, permitting compliance and long development timelines before the asset begins generating cash. The announcement is therefore an important infrastructure milestone, not immediate operating capacity.