Ofer Yanai Celebrates Major Deal: 600 Million NIS Contract

Nofar Israel, owned by businessman Ofer Yanai, and Super Power Electricity (a partnership 65% held by Supergas Power and 35% by Enlight Renewable Energy), announced on Wednesday the signing of a long-term agreement under which Super Power Electricity will purchase electricity from Nofar within the framework of the market model regulation.

Under the agreement, Super Power will purchase electricity fed into the grid from independent energy storage facilities (Stand Alone) that Nofar is building and connecting to the distribution grid. Commercial supply is expected to be deployed gradually between 2027 and 2029, involving facilities with a total capacity of about 50 MW and a capacity of about 250 MWh, with an option to expand capacity later.

The agreement period is set for up to 15 years, and the cumulative consideration is estimated at approximately 600 million NIS. The engagement includes securities and mechanisms to ensure compliance with schedules and electricity availability.

For Super Power, the agreement is a key pillar in its growth strategy. The engagement expands the sources of electricity available to the partnership, diversifies its procurement mix, and supports its ability to expand activity among private and commercial customers.

This agreement joins a series of electricity purchase contracts from renewable energy producers that Super Power has signed in recent years, with a cumulative volume of over 300 MW of capacity and a total storage capacity of about 1.5 GWh.

Together with previous deals and the partnership's win in the first tender for availability certificates, these moves represent investments and engagements totaling about 7 billion NIS, establishing Super Power as a leading electricity supplier for the private sector in Israel.

Daniel Sapir, CEO of Supergas Power, stated: "The agreement with Nofar is another important step to ensure electricity availability for customers. We intend to continue working to expand our activity volumes, with an emphasis on private electricity consumers."

Nadav Barkan, CEO of Nofar Israel, noted: "The deal, estimated at 600 million NIS over 15 years, expresses great trust in our capabilities. This is our second electricity sales agreement, securing sales for almost half of our project backlog."

He added: "The company expects to secure revenues from electricity sales of over 1.5 billion NIS in the coming years. We plan to connect about 1 GWh by July 2027 through broad strategic collaborations."

In conclusion, Barkan explained: "The combination of advanced storage facilities and the growing demand for green electricity ensures a stable, long-term cash flow and establishes Nofar's status as a leading player in the transition of the Israeli energy sector."