N2OFF's 111 MWp Solar PV Project in Germany Secures Regulatory Approval

N2OFF, Inc. (NASDAQ: NITO), a clean tech company engaged in sustainable solutions for energy and innovation in the agri-tech sector, has announced that its 111 MWp solar photovoltaic (PV) project in Melz, Germany, has secured regulatory approval. The project, developed in collaboration with Solterra Renewable Energy Ltd., has received the green light from the Melz municipal committee following an in-depth review of its environmental and planning implications.



The approval marks a significant milestone for N2OFF's entry into the renewable energy market, aligning with its mission to support innovative and impactful sustainable energy projects. The Melz project is N2OFF's first venture into the renewable energy sector, and it is part of a broader joint venture with Solterra aimed at accelerating the development of high-potential renewable energy facilities across Europe.

The solar PV project has attracted interest from a regional energy service provider in Germany for a potential grid connection. The project's design requires a grid connection of 97 MW to deliver an aggregate capacity of 111 MWp. However, the approved grid connection capacity exceeds this requirement by approximately 10%, providing 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.

N2OFF and Solterra are currently examining both potential pathways to determine which could enhance the project's overall efficiency and profitability. While further examination is required to assess the viability of these pathways and to determine which could be more profitable, the increased capacity adds significant potential value to the project, even if these pathways are not immediately pursued.

The approval of the statutory plan for the 111 MWp solar PV project in Melz, Germany, by the Melz municipal committee is a significant milestone that moves the project closer to achieving ready-to-build (RTB) status, which is currently expected by the end of 2025. This approval follows an in-depth review of the project's environmental and planning implications, indicating that the project meets the required standards and is on track to proceed as planned. The plan has now entered the hearing process, which is one of the latest stages in the development process.

In conclusion, N2OFF's 111 MWp solar PV project in Germany has secured regulatory approval, marking a significant step in the company's entry into the renewable energy market. The project's potential capacity increase and battery storage solutions present exciting opportunities for growth and profitability. As the project progresses, N2OFF continues to demonstrate its commitment to sustainable energy solutions and innovation in the agri-tech sector.