Ellomay Capital Celebrates Strategic Partnership with Clal Insurance
Ellomay Capital's Exciting New Venture
Tel-Aviv, Israel — Ellomay Capital Ltd. (NYSE American: ELLO, TASE: ELLO.TA), a prominent player in the renewable energy sector, is thrilled to announce the successful closing of its investment deal with Clal Insurance Company Ltd., one of Israel's leading institutional investors. This strategic partnership focuses on a remarkable 198 MW solar portfolio comprising both operating projects and those currently under construction in Italy.
Details of the Investment
In this exciting arrangement, Clal Insurance has acquired a substantial 49% interest in Ellomay's expansive portfolio. This investment not only strengthens the financial backing for the projects but also aligns with Ellomay's commitment to advancing renewable energy solutions. The collaboration exemplifies a shared vision for sustainable energy and reinforced growth in the European market.
The Vision Behind the Partnership
Ran Fridrich, the CEO of Ellomay, expressed his enthusiasm regarding the transaction: "This collaboration underscores a significant milestone in our strategic growth plan. We view our partnership with Clal as a powerful endorsement of Ellomay’s objectives and the prowess of our leadership team. We're grateful for the dedication exhibited by both parties in navigating and concluding this intricate transaction successfully."
About Ellomay Capital
Ellomay Capital operates on a global scale, primarily focusing on renewable energy and power generation in Europe, Israel, and the USA. Established in 2009, the company has consistently directed its efforts towards sustainable initiatives that balance environmental considerations with economic growth.
Significant Achievements
Ellomay has made considerable investments across various renewable sectors, with notable achievements including:
- A robust portfolio of approximately 335.9 MW of operational solar plants in Spain, including a massive 300 MW facility that is partially owned by Ellomay.
- A 9.375% indirect stake in Dorad Energy Ltd., which operates one of the largest private power plants in Israel with a significant production capacity.
- Ownership stakes in companies operating anaerobic digestion plants in the Netherlands, contributing to eco-friendly energy solutions.
- A project aimed at constructing a 156 MW pumped storage hydroelectric power plant in Israel.
- Development of solar projects in Italy with an impressive combined capacity of 160 MW and ongoing projects in Texas, USA.
Looking Ahead
The partnership with Clal Insurance signifies Ellomay's ambition to expand its footprint in the renewable energy sector while fostering technological advancement and ecological responsibility. As the company continues to explore new projects and opportunities, it remains committed to its mission of enhancing energy sustainability across borders.
Contact Information
For deeper insight into Ellomay Capital's operations and initiatives, interested parties are encouraged to reach out to:
Kalia Rubenbach (Weintraub)
CFO
Tel: +972 (3) 797-1111
Email: hilai@ellomay.com.
Frequently Asked Questions
What is Ellomay Capital?
Ellomay Capital Ltd. is a renewable energy producer and developer focused on projects in Europe, Israel, and the USA.
What recent investment did Ellomay Capital announce?
The company announced a partnership with Clal Insurance, securing a 49% investment in its 198 MW solar portfolio in Italy.
What areas does Ellomay Capital operate in?
Ellomay Capital primarily operates in renewable energy sectors across Europe, the USA, and Israel.
Who is Clal Insurance?
Clal Insurance Company Ltd. is a notable institutional investor in Israel, focusing on various investment opportunities including renewable energy.
How can I learn more about Ellomay Capital?
For further information, you can visit their official site or reach out via the provided contact details.
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