Welcome to our dedicated page for Ellomay Cap news (Ticker: ELLO), a resource for investors and traders seeking the latest updates and insights on Ellomay Cap stock.
Ellomay Capital Ltd. (ELLO) is an Israeli-based renewable energy and power generator and a developer of renewable energy and power projects in Europe, Israel and the USA. The ELLO news feed on Stock Titan aggregates company announcements, market disclosures and regulatory updates that reflect Ellomay’s activity across solar, green gas, pumped storage and conventional power assets.
Investors following Ellomay’s news can track updates on its solar portfolios in Spain, Italy and Texas, including operating capacity, construction progress and participation in national tenders such as Italy’s FER X programs. The company regularly reports on ready-to-build and under-construction projects, power purchase agreements and project finance withdrawals for its Italian solar portfolio.
News items also cover developments in Ellomay’s Dutch anaerobic digestion plants, including licensing to increase green gas production and regulatory changes related to blending green gas with fossil gas. In Israel, Ellomay’s announcements include progress on the Manara pumped storage project and its indirect interest in the Dorad power plant, as well as legal and regulatory matters connected to the planned Dorad 2 expansion.
Corporate and capital markets updates form another important part of ELLO news, including private placements of debentures, equity placements, annual general meeting results and the announced agreement for the sale of a control stake in the company to O.Y. Nofar Energy Ltd., subject to conditions. By reviewing this news stream, readers can follow Ellomay’s operational milestones, financing activities and governance decisions in one place and return regularly for new company disclosures.
Ellomay Capital Ltd. (NYSE American: ELLO) reported unaudited financial results for the six months ending June 30, 2020. Revenues decreased to approximately €4.2 million, down from €10.3 million in 2019, primarily due to the sale of its Italian PV Portfolio. Operating expenses also decreased, amounting to €2.1 million, due to operational efficiencies and insurance reimbursements. The company reported a net loss of €4.3 million, with total comprehensive loss of approximately €13.5 million. The impact of COVID-19 on operations was noted, but current project developments continued successfully.
Ellomay Capital Ltd. (NYSE: ELLO) announced that its Talasol Solar S.L. photovoltaic plant in Cáceres, Spain, has received the final start-up certificate, allowing it to commence operations. This authorization is crucial for the project, which has a peak capacity of 300 MW. Ellomay holds a 51% ownership stake in Talasol. CEO Ran Fridrich stated that the construction is nearly complete and that connection to the grid is expected in 5-7 weeks. The company continues to focus on renewable energy projects across Europe and Israel.
Ellomay Capital Ltd. (NYSE American: ELLO) reported on August 27, 2020, its indirect financial participation in Dorad Energy Ltd. Following the Luzon Group's quarterly report, Dorad's unaudited revenues for Q2 2020 were approximately NIS 508.7 million, with an operating profit of about NIS 32.7 million. The company acknowledged a decline in economic activity due to COVID-19, impacting electricity consumption. Despite disruptions, Dorad maintained operations under government guidelines. Ellomay plans to report its share from Dorad's results around September 24, 2020.
Ellomay Capital Ltd. (NYSE American: ELLO) has been awarded a quota of 20 MW in a tender by the Israeli Electricity Authority for combined photovoltaic and electricity storage facilities in Israel. This successful bid is part of a larger quota of 168 MW accepted from various entities. The tariff rate is set at NIS 0.199 per kWh, linked to the Israeli CPI and valid for 23 years.
The Company will now explore potential construction sites and must obtain various approvals for project development within specified timelines.
Ellomay Capital Ltd. (NYSE American: ELLO) has announced a private placement of 450,000 ordinary shares to Israeli institutional and classified investors, raising approximately NIS 31.7 million (around $20.4 per share). This follows the Board of Directors' approval, with the share price determined on July 7, 2020. The company intends to utilize the net proceeds for general corporate purposes. Closing of the placement is pending regulatory approvals expected in July 2020. Ellomay specializes in renewable energy projects across Israel and Europe.
Ellomay Capital Ltd. (NYSE American: ELLO) reported unaudited financial results for Q1 2020, highlighting revenues of approximately €1.9 million, down from €4.7 million in Q1 2019, primarily due to the December 2019 sale of its Italian PV Portfolio. Operating expenses were reduced to €1.1 million, while project development costs rose to €1.8 million. A loss of €1.9 million was noted, compared to €1 million a year earlier. Despite challenges from COVID-19, the overall impact remained minor, though electricity prices in Spain decreased revenues slightly. Total comprehensive income increased to €12.2 million due to cash flow hedge valuation.