N2Off Completes Acquisition Of Battery Storage Systems In Italy From Solterra: Retail Sounds A Bullish Note

This is a part of N2Off’s larger partnership with Solterra – the two companies announced that their 111MWp solar photovoltaic project in Germany received regulatory approval in January.

N2Off Inc. (NITO) announced that it has completed the acquisition of two battery energy storage systems (BESS) from Solterra Brand Services Italy, a subsidiary of Solterra Renewable Energy.

Reacting to the news, N2Off’s stock gained 2.7% in Wednesday’s regular trade but fell nearly 2% during after-market hours.

This comes two months after N2Off had signed an agreement with Solterra in a deal valued at $2.42 billion.

Each battery storage system has a capacity of 98 megawatt peak (MWp) per 392 megawatt-hours (MWh). N2Off has a 70% stake in the project. It expects the project to reach the ready-to-build stage in 18 to 24 months

This is a part of N2Off’s larger partnership with Solterra – the two companies announced that their 111MWp solar photovoltaic project in Germany received regulatory approval in January.

“The collaboration reflects the companies 'shared vision of advancing renewable energy adoption and addressing the increasing demand for energy storage solutions to enhance grid flexibility,” N2Off said.

Retail sentiment on Stocktwits showed a bullish outlook among investors.

One user recommended “patience” and noted that the stock is “ready to move.”

Another user said they’re adding to their position.

Over the past six months, the N2Off stock has gained nearly 10%, but its one-year performance shows a decline of 78%.

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