Core Insights - N2OFF, Inc. has signed a binding term sheet with Solterra Energy Ltd. to collaborate on renewable energy projects in Albania, focusing on solar energy and battery storage for one year [1] - A trilateral agreement between Italy, Albania, and the UAE aims to develop renewable energy projects in Albania, with an estimated value of approximately €1 billion [2] - N2OFF and Solterra are advancing renewable energy infrastructure in Europe through significant projects in Germany and Italy [3] Group 1: Collaboration and Agreements - The collaboration between N2OFF and Solterra will involve presenting potential projects and conducting feasibility analyses, with Solterra managing project development and N2OFF overseeing financing [1][6] - The trilateral agreement includes the UAE leveraging its expertise to produce clean energy in Albania, with power transmission to Italy via an underwater cable [2] Group 2: Project Developments - In Germany, a joint venture is developing a 111 MWp solar photovoltaic project in Melz, which has received municipal approval and an indicative grid connection solution [4] - In Italy, N2OFF and Solterra's subsidiary have signed a Letter of Intent to develop two Battery Energy Storage Systems in Sicily, each with a capacity of 98 MWp/392 MWh, expected to reach a Ready-to-Build stage in 18-24 months [5] Group 3: Company Background - N2OFF, Inc. focuses on sustainable energy solutions and aims to tackle greenhouse gas emissions, with a recent entry into the solar PV market [7] - The company also has a minority ownership in Plantify Foods, Inc., which offers clean-label healthy food options [7]
N2OFF and Solterra Join Forces to Exclusively Co-Develop the Solar PV Market in Albania