LONGi-Nofar Romania 576 MW Sales Agreement
LONGi, a global leader in solar technology, has signed a 576 MW sales agreement with Nofar Romania, implementing the latest generation of its high efficiency modules. This collaboration marks a pivotal moment for the company’s ventures in Romania, signaling a significant milestone in the country’s solar energy landscape, considered the largest agreement in Romania to date.
The comprehensive agreement encompasses the procurement of LONGi’s Hi-MO 7 modules known for their high performance and reliability. The project is expected to be under construction in 2024 and operational in 2025. In addition to its high efficiency, Hi-MO 7 boasts excellent power generation performance and long-term reliability, significantly reducing the cost of electricity (LCOE) for large-scale projects.
Hi-MO 7 is LONGi’s latest generation of high-efficiency modules designed for the utility market. The module uses SMBB welding technology including LR5 72HGD and LR7 72HGD two types product.
Hi-MO 7 boasts excellent power generation performance and product reliability, making it particularly suitable for applications with high albedo, high temperature, and limited space.
“This strategic partnership with Nofar Energy Romania marks a significant step forward in advancing sustainable energy solutions in Romania. LONGi is proud to contribute with our high-efficiency panels, bringing innovation to the forefront and fostering a greener future for the region,” Mirel Jarnea, Sales Manager Romania at LONGi, stated.
“Our agreement with LONGi is a testament to our shared vision and unwavering commitment to provide sustainable energy solutions in Romania. We look forward to the exciting journey ahead and the success that our strengthened partnership will undoubtedly bring,” Favi Stelian, CEO Nofar Energy Romania, noted.
“Signing this significant panel purchase deal at low prices reflects the ongoing growth, as reflected in the company’s recent reports. Over the past three years, we have initiated and commissioned over 1GW of solar projects with high returns in six different countries, and we are on the verge of another substantial leap. The reduction in project costs is expected to lead to further improvements in the high returns the company demonstrates in its various projects,” Nofar Energy’s CEO Nadav Tenne added.
This collaboration positions Nofar Romania and LONGi at the forefront of sustainable energy initiatives in Romania, combining cutting-edge technology, financial acumen, and a commitment to ethical business practices. As the company charts a course towards a greener future, this landmark agreement underscores its dedication to driving positive change in the renewable energy landscape.
About LONGi
Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.
Under its mission of ‘making the best of solar energy to build a green world’, LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has recently also embraced green hydrogen products and solutions to support global zero carbon development.
About Nofar Energy
Founded in 2011, Nofar Energy is a global leader in renewable energy investments. Since 2020, Nofar has been a public traded company at the (TASE: NOFR). For the last 12 years, Nofar has been growing rapidly and consistently, with an extensive portfolio of projects and subsidiaries across 9 territories, 200 employees worldwide, and major renewable energy and energy storage projects.
