Nofar Energy's U.S. subsidiary acquires 1 GW solar portfolio from Pine Gate Renewables

Nofar Energy's U.S. subsidiary is expanding its operational footprint in the United States, securing 1 GW of solar capacity across Texas, Alabama, South Carolina, and North Carolina. This acquisition, reportedly valued over $1 billion, provides Nofar Energy with a mix of operational and construction-stage assets, offering immediate revenue streams alongside future growth potential. The undisclosed sum for this utility-scale portfolio suggests a competitive bidding process for high-quality U.S. solar assets. Pine Gate Renewables, as a developer and owner-operator, likely benefits from monetizing a portion of its developed portfolio to recycle capital for new greenfield projects or further expand its energy storage pipeline across the United States. This transaction allows Nofar Energy to rapidly scale its U.S. presence, bypassing some of the earlier development risks associated with greenfield projects. Pine Gate Renewables, known for developing, financing, constructing, and operating utility-scale solar and energy storage projects across the United States, demonstrates its ability to bring substantial capacity to market and realize value from its portfolio. This divestment allows Pine Gate Renewables to reallocate capital, potentially funding its ongoing development pipeline or expanding its energy storage focus within the U.S. Nofar Energy, a global renewable energy company, actively invests in both greenfield and brownfield projects, and this 1 GW acquisition in the U.S. aligns with its strategy to develop, construct, and operate solar, wind, and energy storage assets globally. The 2026-03-12 announcement date for a portfolio of this scale, spanning multiple states, confirms robust investor interest in large-scale, de-risked renewable energy assets in the U.S. power market.