Business
Nofar USA and Qcells USA Sign Agreement to Develop and Build Two Utility-Scale Energy-Storage Projects in Texas
FORT LAUDERDALE, Fla., March 20, 2025--Nofar USA, a wholly owned subsidiary of Nofar Energy (TASE: NOFR), and Qcells USA Corp. (Qcells), a wholly owned subsidiary of Hanwha Qcells, have signed an agreement to cooperate on the development and construction of energy storage projects totaling 350MW of capacity with 2 hour duration (total of 700MWh).
About this update from O.y. Nofar Energy Ltd
[{"type":"text","content":"The two battery projects featuring 350MW of capacity with 2-hour duration (700MWh) are targeted to come online in 2027","length":118,"tagName":"p"},{"type":"text","content":"FORT LAUDERDALE, Fla., March 20, 2025--(BUSINESS WIRE)--Nofar USA, a wholly owned subsidiary of Nofar Energy (TASE: NOFR), and Qcells USA Corp. (Qcells), a wholly owned subsidiary of Hanwha Qcells, have signed an agreement to cooperate on the development and construction of energy storage projects totaling 350MW of capacity with 2 hour duration (total of 700MWh).","length":365,"tagName":"p"},{"type":"text","content":"The projects, which have been originated and developed by Qcells, are in the final stages of interconnection approvals. Qcells will further support the development and deployment of the projects, while Nofar, as the sponsor and full owner, plans to start construction later this year, aiming to bring the projects online in 2027.","length":329,"tagName":"p"},{"type":"text","content":"The projects—Bracero Pecan (230MW/460MWh) in Reeves County, and Fairway (120MW/240MWh) in Freestone County—combine Qcells’ development expertise with Nofar’s financial and operational capabilities. Bracero Pecan, situated south of Pecos in ERCOT West, and Fairway, located approximately 60 miles southeast of Dallas in ERCOT North, are strategically located to improve grid resiliency and to offer critical support to Texas’ evolving renewable energy landscape. Bracero Pecan will interconnect with AEP, while Fairway will interconnect with Oncor, positioning the assets within two key electricity transmission networks in the state.","length":633,"tagName":"p"},{"type":"text","content":"Allon Raveh, executive chairman of Nofar USA, said: "We are thrilled to work alongside Qcells on the development of two premier utility-scale battery projects in Texas, while leveraging Nofar’s global experience in energy storage. These well-located projects are strategically positioned for rapid deployment, ensuring both a swift time-to-market and strong value creation for our shareholders."","length":405,"tagName":"p"},{"type":"text","content":"IP Kim, President of Qcells USA Corp., reflected on the transaction saying, "We are proud to collaborate on creating an opportunity to advance Nofar USA in the United States. These projects will bring a host of benefits to the Texas po...