Nofar USA Completes 1GW Solar Asset Acquisition from Pine Gate Renewables

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FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Mar 17, 2026--

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.

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.

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.

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.

“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 transaction proves how committed and determined we are in becoming a significant participant in the U.S and we are already working on the next opportunities.”

Acquisition financing of $255 million was provided by Hapoalim Bank, one of the largest banks in Israel with a balance sheet of over $200 billion.

These assets contribute to Nofar USA’s existing portfolio, which now accumulates to 2.3 GWdc of solar assets (operational and under development) and 1.5 GWh of storage assets (under development).

With this closing, Nofar USA continues its growth strategy, leveraging its financial capacity, operational expertise, and disciplined investment approach to meet the growing power demand and transition to clear energy across key US markets.

Clifford Chance acted as legal advisors, and BNP Paribas acted as exclusive financial advisor to Nofar USA on this transaction.

About Nofar

Nofar Energy is a global renewable energy independent power producer active in Israel, Europe, and the United States. The company develops, owns, and operates solar and battery storage projects across multiple markets and is publicly listed on the Tel Aviv Stock Exchange with a market capitalization of approximately $2 billion.

Nofar USA serves as the company’s U.S. platform and has focused on building a diversified portfolio across regulated and deregulated power markets through a combination of organic development and acquisitions.

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KEYWORD: UNITED STATES NORTH AMERICA FLORIDA

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SOURCE: Nofar USA LLC

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PUB: 03/17/2026 08:00 AM/DISC: 03/17/2026 08:00 AM

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