N2OFF’s Solterra participates in financing of BESS project in Poland

N2OFF (NITO) announced Solterra’s entry into the Polish renewable energy market by participating in the financing of a Battery Energy Storage System project in Poland. The project, currently planned at 35MW/140MWh, represents a significant step in expanding Solterra’s large-scale energy storage solutions in the region. N2OFF, along with other lenders, will assist with financing an initial payment under a signed grid connection agreement. Future development plans include applying for an increase in capacity to more than 100MW/400MWh. This is Solterra’s fourth BESS development project and Solterra is engaged in additional later stages projects in Germany and Italy. N2OFF is one of four parties providing financing under a structured agreement, with the funds currently expected to be repaid upon the sale of the project within a period of up to 30 months. In addition to the return of principal, each lender will be entitled to a portion of the net profits based on their participation. N2OFF’s share is 15% of the net profit realized from the transaction.