Israel’s N2OFF enters the solar energy sector – SPE

Israel-based N2OFF said it is entering the PV sector by lending €375,000 to Israeli PV developer Solterra Renewable Energy. The loan is part of a larger plan of €500,000, in which other unspecified parties will provide the remaining €125,000.

“Solterra currently operates in three primary target markets: Italy, Poland and Germany, and manages a solar portfolio at various stages of solar development with a total cumulative capacity of approximately 300 MW,” the company said in a statement declaration.

According to Solterra’s website, its “founders and management have decades of experience, a proven track record and global success with major international renewable energy companies. Our regional offices are easily accessible and consist of local professionals who speak the native language and understand the cultural needs and complexities.”

N2Off is active in the cleantech industry through three subsidiaries. Save Foods focuses on post-harvest treatments for fruits and vegetables. NTWO OFF promotes agricultural practices to reduce nitrous oxide (N2O) emissions. Plantify Foods offers clean-label healthy food options.

“Over the past few months, we have identified what we believe is an attractive opportunity in the growing solar market,” said David Palach, CEO of N2OFF. “Our decision to enter this field was primarily driven by our collaboration with Solterra’s experts, who have experience leading solar PV projects. The current loan agreement marks the beginning of a collaboration that we believe can have great potential for profitability and revenue generation in future projects.”