Heinrich & Mortinger Advises Nofar Energy on First BESS FPA

Tel Aviv, Israel – December 12, 2024 – Heinrich & Mortinger GmbH has successfully advised Nofar Energy on the completion of a long-term fixed-price Flexibility Purchase Agreement (FPA) for its first Battery Energy Storage System (BESS) project in Germany.

The fixed-price FPA provides Nofar Energy with a guaranteed revenue stream over a fixed term, offering protection against market volatility and ensuring stable income for the project.

Heinrich & Mortinger GmbH played a critical role in assisting Nofar Energy with selecting potential FPA partners, reviewing contract terms, and evaluating the bankability of the agreement. The counterparty to the agreement is a leading global energy company with operations across the entire energy value chain, further reinforcing the strength and reliability of the partnership.

This milestone agreement demonstrates Nofar Energy’s commitment to innovation, risk management, and strategic long-term partnerships in the energy storage sector. The project’s successful conclusion underlines the company’s ability to navigate complex energy market dynamics and secure sustainable revenue for its cutting-edge energy storage solutions.

Nofar Energy, headquartered in Tel Aviv, is a global leader in renewable energy solutions, specializing in the development, financing, and operation of renewable energy projects worldwide.

This FPA is seen as a pivotal step in the company’s strategy to expand its renewable energy footprint in Europe, particularly in Germany, a key market for energy storage innovation. The agreement is expected to support Nofar Energy’s broader mission to enhance energy security and grid flexibility while advancing the adoption of renewable energy technologies.