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][3] - 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: Project Developments - In Germany, a joint venture is developing a 111 MWp solar photovoltaic project in Melz, which has secured 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 2: Strategic Collaborations - The collaboration between N2OFF and Solterra is driven by successful fast-tracking of joint projects in Germany and Italy, highlighting their commitment to renewable energy [1][3] - The agreement includes conditions such as mutual agreement on development and financing terms, corporate approvals, and compliance with applicable laws [6]
N2OFF and Solterra Unite to Pioneer Solar PV Development in Albania