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) announced the issuance of a notice to commence construction to Electra Infrastructure Ltd. for the 156 MW pumped storage hydro power plant in Manara Cliff, Israel. The expected construction start date is April 20, 2021, with a projected duration of 62.5 months. Ellomay indirectly owns 83.333% of the project company. CEO Ran Fridrich highlighted this as a significant milestone for the company, which has invested in various renewable energy projects across Europe and Israel, including photovoltaic power plants and anaerobic digestion facilities.
Ellomay Capital Ltd. announced the filing of its Annual Report on Form 20-F for the year ending December 31, 2020, with the SEC. This report includes complete audited financial statements and is accessible via the company's website. Ellomay focuses on renewable energy projects in Europe and Israel, with investments in photovoltaic power plants and gas production facilities. The company owns a significant stake in Dorad Energy Ltd, which operates one of Israel's largest power plants, contributing to around 8% of the country's electricity consumption.
Ellomay Capital Ltd. (NYSE American: ELLO) reported its unaudited financial results for 2020, revealing a significant revenue decline to approximately €9.6 million, down from €19 million in 2019, primarily due to the sale of its Italian PV portfolio. Operating expenses decreased to €5 million, while net loss was about €6.2 million, contrasting with a net profit of €9.8 million the previous year. EBITDA fell sharply to €0.3 million from €24.1 million. Despite challenges, notable advancements include the completion of the Talasol PV Plant and securing financing for the Manara PSP project.
Ellomay Capital Ltd. (NYSE American; TASE: ELLO) reported its indirect ownership in Dorad Energy Ltd., revealing Dorad's financial highlights for 2020. Dorad achieved revenues of approximately NIS 2,407 million and an operating profit of approximately NIS 283 million amidst COVID-19 impacts. While experiencing a decline in electricity demand and operations, Dorad's results are not expected to materially affect Ellomay's income at present. Ellomay will integrate Dorad's results in its upcoming financial statements due on March 31, 2021.
Ellomay Capital Ltd. (NYSE American; TASE: ELLO) has announced an EPC Agreement for a 28 MW photovoltaic plant in Talaván, Spain. The agreement, valued at €15.32 million, includes engineering, procurement, construction, and two years of O&M services, with completion expected within nine months. Early works commenced on March 1, 2021, with a Notice to Proceed anticipated in May 2021. CEO Ran Fridrich highlighted ongoing development across multiple photovoltaic projects in Spain, Italy, and Israel, indicating a proactive approach to expanding the company’s renewable energy portfolio.
Ellomay Capital Ltd. (NYSE American: ELLO) announced that all conditions precedent have been met for the Manara Project, a pumped storage hydro facility in Israel. The project, costing NIS 1.53 billion (approximately $472 million), secured project finance of NIS 1.18 billion (about $364 million) from a consortium of banks. The EPC Agreement with Electra Infrastructure is valued at around NIS 1.1 billion ($338 million). Construction is expected to take 62.5 months, and the project aims to support increased demand for energy storage.
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.