N2OFF Inc. and Solterra Unveil Enhanced Potential for Solar PV Capacity Growth, Surpassing Initial Projections

N2OFF, Inc. has revealed a 10% capacity increase for its solar PV project in Germany, surpassing initial expectations. This expansion opens up new avenues for growth, including potential battery storage and increased capacity. The company is now analyzing these possibilities to determine their impact on efficiency and profitability, with the aim of enhancing the project's overall value.

N2OFF, Inc. (NASDAQ: NITO), a leading clean tech company, and its solar PV joint venture partner, Solterra Renewable Energy Ltd., have announced an exciting development that could significantly enhance the value of their project in Germany. Following the approval to connect to the regional power grid in Meltz, Solterra revealed a potential 10% increase in the project's capacity, surpassing initial expectations [1].

This expansion opens up new opportunities for the project, particularly in the area of battery storage [1]. With the approved capacity exceeding the project's design requirement by approximately 10%, N2OFF and Solterra are now evaluating two potential pathways to maximize the project's value: (i) increasing the project's capacity by up to 10% or (ii) incorporating battery storage solutions [1].

The current solar PV project design requires a grid connection of 97 MW to deliver an aggregate capacity of 111 MWp [1]. However, the approved grid connection capacity is over 10% greater than this requirement, providing ample room for expansion. The potential benefits of increasing the project's capacity include a higher overall valuation in the event of a sale and increased efficiency and profitability [1].

Battery storage solutions, on the other hand, could enhance the project's efficiency by allowing it to store excess energy generated during peak sunlight hours for use during periods of low sunlight [2]. This could potentially lead to higher profits and increased energy security for the region [2].

David Palach, CEO of N2OFF, expressed his excitement about the potential of this additional grid capacity. "We are committed to exploring these options to increase the project value and will continue in our efforts to maximize this opportunity," he said [1].

In summary, N2OFF's solar PV project in Germany is set to surge ahead with a 10% capacity increase, opening up new possibilities for growth, including potential battery storage solutions. With further examination underway to assess the viability of these pathways and determine which one could enhance the project's overall efficiency and profitability, the potential benefits of this expansion are significant.

References:
[1] GlobeNewswire. (2024, September 11). N2OFF, Inc. and Solterra Renewable Energy Ltd. Announce Potential Increase Capacity Solar PV Joint Venture. https://www.nasdaq.com/press-release/n2off-inc-and-solterra-announce-potential-increase-capacity-solar-pv-joint-venture
[2] Solar Power Europe. (2023, January 31). Grid-Connected Battery Storage in Europe 2021: Market Report. https://www.solarpowereurope.org/fileadmin/user_upload/Publications/Market_Reports/Market_Report_Grid-Connected_Battery_Storage_in_Europe_2021.pdf