Builds & operates renewable energy projects.
Nofar enters 2026 with a deeper, more diversified platform and stronger strategic assets, but the key reading now depends less on portfolio size and more on the ability to connect, fund, and pull that expansion into reported earnings.
Within Nofar's visible European pipeline, storage already looks less like a support layer to solar and more like the future value engine of the platform, but that value will only be recognized if the 2026 to H1 2028 connection windows and the project-financing path close on time.
Nofar still has funding flexibility, but it now rests more on recycling external sources than on surplus free capital sitting in the balance sheet.
The gap between Nofar's reported 2025 figures and its adjusted metrics is driven mainly by proportionate presentation of equity-accounted companies and reclassification of other income and expenses, far more than by improvement that has already fully converted into reported earn…
