Airengy and Nofar Energy sign ILS 200 million solar and storage joint venture framework in Israel

Israeli clean energy firms Airengy and Nofar Energy have established a joint venture to deploy solar installations and energy storage systems across commercial spaces, initiating a seven-project phase valued up to ILS 200 million.

According to official regulatory disclosures, Airengy has entered into a framework agreement with Nofar Energy Israel Ltd. to co-develop solar energy projects integrated with battery storage. The initiatives will focus on utilizing sports courts and parking facilities for generation. Airengy, an Israel-based developer specializing in renewable infrastructure engineering, procurement, and construction (EPC), will manage the technical lifecycle, including design, regulatory licensing, grid integration, and project execution.

The agreement also establishes provisions for Airengy to take equity stakes in select upcoming projects. The initial phase of the partnership outlines seven distinct developments. Combined, these projects represent approximately 22.15 MWp of solar capacity alongside 225.68 MWh of battery energy storage infrastructure. Airengy stands to secure up to ILS 200 million for the construction phase of these designated projects.

This development highlights the intensifying commercial focus on decentralized renewable energy systems in the Middle East. By targeting underutilized urban spaces like parking lots, the venture circumvents rural land-use bottlenecks, offering a scalable blueprint for grid-scale storage integration. For the broader clean tech industry, the integration of extensive storage capacity with commercial solar panels signals a maturation in how developers manage peak demand and grid stability.

For institutional investors and regional enterprises, the framework showcases the commercial viability of multi-megawatt co-located storage models under structured corporate partnerships.