Business
Nofar USA Completes 1GW Solar Asset Acquisition from Pine Gate Renewables
FT. LAUDERDALE, Fla., March 17, 2026--Nofar USA closes 1 GW Pine Gate solar acquisition. Nofar portfolio now 2.3 GWdc solar, 1.5 GWh storage across 4 states.
About this update from O.y. Nofar Energy Ltd
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1000,"height":300,"url":"https://media.zenfs.com/en/business-wire.com/fe9824c52ce405f8d7049a81376a267f"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/cES7VA.7S3emQMzDoAwLTA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTI4ODtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/fe9824c52ce405f8d7049a81376a267f","width":960,"height":288},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/roUx4PNsTwTGsYeSnNA49Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIwMDA7aD02MDA7Y2Y9d2VicA--/https://media.zenfs.com/en/business-wire.com/fe9824c52ce405f8d7049a81376a267f","width":1000,"height":300}},"lazy":false},{"type":"text","content":"FT. LAUDERDALE, Fla., March 17, 2026—(BUSINESS WIRE)—Nofar USA LLC ("Nofar USA"), a wholly owned subsidiary of Nofar Energy (TASE: NOFR), announced it successfully closed its previously approved acquisition of approximately 1 gigawatt of solar energy assets from Pine Gate Renewables, LLC, marking one of the most significant renewable‑energy platform transactions in the U.S. market this year.","length":404,"tagName":"p"},{"type":"text","content":"The closing follows the U.S. Bankruptcy Court for the Southern District of Texas’s approval of the sale on January 5, 2026, and represents a major expansion of Nofar USA’s footprint in the American energy sector.","length":212,"tagName":"p"},{"type":"text","content":"The acquired portfolio includes operating and development‑stage utility-scale solar projects across multiple states, including Texas, Alabama, South Carolina and North Carolina, strengthening Nofar USA’s long‑term strategic position in the U.S. power market.","length":258,"tagName":"p"},{"type":"text","content":"The assets are at various stages, including 650 MWdc currently in operation, 100 MWdc is in advanced construction, and 225 MWdc is in an early construction stage.","length":162,"tagName":"p"},{"type":"text","content":""The success of this closing is owed to our top‑quality management team in the US, our excellent access to capital markets, and to the group’s strong balance sheet," said Allon Raveh, Chairman and CEO of Nofar USA. "These were the basis to successfully make the acquisition and financing of 1GW of solar assets possible within two months. This transac...