LONGi signs 576 MW agreement with Nofar Energy Romania

Global News

Xi´an (CHINA), 28th December 2023 – LONGi, a global leader in solar technology, announces today that has signed a 576 MW sales agreement with Nofar Energy Romania, implementing the latest generation of its high efficiency modules. This collaboration marks a pivotal moment for the company's ventures in Romania, signaling a significant milestone in the country's solar energy landscape, considered the largest agreement in Romania to date.

The comprehensive agreement encompasses the procurement of LONGi´s Hi-MO 7 modules. The project is expected to be under construction in 2024 and operational in 2025. In addition to its high efficiency, Hi-MO 7 boasts excellent power generation performance and long-term reliability, significantly reducing the cost of electricity (LCOE) for large-scale projects.

Leading Romania’s Renewable Energy Revolution

Ensuring alignment with Environmental, Social, and Governance (ESG) standards, the agreements include the supplier's commitment to meeting stringent requirements related to the supply chain. Crucially, the finalization of the agreement follows the approval of ongoing negotiations with a prominent banking corporation. This approval sets the stage for ESG-compliant bank financing for three key projects, adhering to the stringent criteria set forth by the banking corporation, especially in relation to the supply chain.

Mirel Jarnea, Sales Manager Romania at LONGi, expressed enthusiasm about the collaboration, stating, "this strategic partnership with Nofar Energy Romania marks a significant step forward in advancing sustainable energy solutions in Romania. LONGi is proud to contribute with our high-efficiency panels, bringing innovation to the forefront and fostering a greener future for the region. We look forward to a successful collaboration that not only meets the energy needs of today but also paves the way for a more sustainable tomorrow".

Favi Stelian, CEO Nofar Energy România, shows his gratitude for this significant achievement, “our agreement with LONGi is a testament to our shared vision and unwavering commitment to provide sustainable energy solutions in Romania. We look forward to the exciting journey ahead and the success that our strengthened partnership will undoubtedly bring”.

This collaboration positions Nofar Energy Romania and LONGi at the forefront of sustainable energy initiatives in Romania, combining cutting-edge technology, financial acumen, and a commitment to ethical business practices. As the company charts a course towards a greener future, this landmark agreement underscores its dedication to driving positive change in the renewable energy landscape.

About Nofar Energy

Founded in 2011, Nofar Energy is a global leader in renewable energy investments. Since 2020, Nofar has been a public traded company at the (TASE: NOFR). For the last 12 years, Nofar has been growing rapidly and consistently, with an extensive portfolio of projects and subsidiaries across 9 territories, 200 employees worldwide, and major renewable energy and energy storage projects.

For further information visit www.nofar-energy.com

About LONGi

Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.

Under its mission of 'making the best of solar energy to build a green world', LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modulescommercial & industrial distributed solar solutionsgreen energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com