Ellomay Cap Stock Price, News & Analysis

Ellomay Capital Ltd. (NYSE American: ELLO) has successfully connected its Talasol photovoltaic plant in Talaván, Cáceres, Spain, to the electricity grid, commencing production at a peak capacity of 300MW. The company indirectly owns 51% of Talasol, which is crucial to its renewable energy strategy in Europe and Israel. The hot commissioning tests are underway, marking a significant step in Ellomay's renewable energy initiatives.

Ellomay Capital Ltd. (NYSE American: ELLO) reported financial results for the nine months ended September 30, 2020, showing revenue of €6.8 million, down from €15.4 million in the same period last year. This decline is attributed to the sale of its Italian PV portfolio and decreased electricity demand due to the Covid-19 pandemic. Operating expenses decreased to €3.4 million from €5 million, largely due to the Italian portfolio sale. Net loss was €5.7 million, compared to €3.8 million last year. The company acquired a biogas project in the Netherlands, anticipated to boost operational efficiency.

Ellomay Capital Ltd. (NYSE American: ELLO) announced the results of its extraordinary general meeting held on December 17, 2020. Key outcomes included the election of Daniel Vaknin as an external director for a three-year term starting December 20, 2020, and the approval of options and terms of service for both Vaknin and board member Ehud Gil. The company focuses on renewable energy projects in Europe and Israel, showcasing investments in photovoltaic plants and a significant stake in a major power plant in Israel, emphasizing its commitment to clean energy.

Ellomay Capital Ltd. (NYSE American: ELLO) announced its acquisition of Groen Gas Gelderland B.V. for €1.568 million plus shareholder loan repayments, enhancing its renewable energy projects in Europe. The facility in Gelderland owns an anaerobic digestion plant with a current capacity of 9.5 million Nm3/year. Following improvements, the plant is expected to generate average annual revenues of €6.4 million and net income of €1.2 million over the next decade. The financial structure will also improve due to the early repayment of mezzanine loans, decreasing finance costs substantially.

Ellomay Capital Ltd. (NYSE: ELLO) announced amendments to its Extraordinary General Meeting scheduled for December 17, 2020. Following discussions with shareholders, the Company will allow separate voting on the exemption and options granted to external director nominee Daniel Vaknin and board member Ehud Gil. The amended agenda includes the election and approval of terms and options for both nominees. The record date remains November 17, 2020, and the amended proxy materials will be mailed by November 30, 2020.

Ellomay Capital Ltd. (NYSE American: ELLO) recently reported on the publication of financial statements for Dorad Energy Ltd. for Q3 2020. Ellomay holds approximately 9.4% of Dorad indirectly through Dori Energy. Dorad's revenues for the period were around NIS 697.1 million, with an operating profit of approximately NIS 112.7 million. The company is navigating challenges due to the COVID-19 pandemic, including decreased electricity consumption and operational disruptions. Dorad is also exploring plans for a new power plant and an initial public offering, pending shareholder approval.

Ellomay Capital Ltd. (NYSE American; TASE: ELLO) has announced an extraordinary general meeting (EGM) of shareholders on December 17, 2020. The agenda includes the election of Daniel Vaknin as an external director and approval of service terms for him and existing board member Ehud Gil. Shareholders on record as of November 17, 2020 can vote, with proxy statements sent by November 18, 2020. The meeting will allow teleconference participation due to COVID-19 precautions. Resolutions require majority approval, with specific disinterested voting requirements for some items.

Ellomay Capital Ltd. (NYSE American: ELLO) announced the mechanical completion of the Talasol Project, a photovoltaic plant in Talaván, Spain, with a peak capacity of 300MW. The company holds a 51% stake in Talasol Solar S.L., the project developer. CEO Ran Fridrich highlighted this milestone as significant despite challenges posed by the Covid-19 pandemic, stating it met both schedule and budget expectations. The grid connection process is anticipated to begin within 5-7 weeks, further advancing Ellomay’s renewable energy initiatives in Europe and Israel.

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.