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. reports developments as a renewable energy and power generator and developer with activities in Europe, the United States and Israel. The company’s updates cover consolidated operating results, annual Form 20-F reporting, project development costs, and portfolio activity involving solar power assets and other power-sector investments.
Recurring news also includes material transactions and governance changes. Ellomay has reported the completed sale of its indirect holdings in Ellomay Luzon Energy Infrastructures Ltd., whose main asset was an interest in Dorad Energy Ltd., as well as changes in principal shareholders and board composition. Its ordinary shares trade on the NYSE American and the Tel Aviv Stock Exchange under ELLO.
Ellomay Capital Ltd. (NYSE: ELLO) announced its annual general meeting of shareholders to be held on August 12, 2021, at 2:00 p.m. in Tel Aviv, Israel. Key agenda items include the reelection of directors, approval of an amended compensation policy, and reappointment of auditors for the fiscal year ending December 31, 2021. Shareholders as of July 6, 2021, can vote at the meeting or through a proxy statement. Proposals for agenda items must be submitted by July 8, 2021. The company focuses on renewable energy projects in Israel and Europe.
Ellomay Capital Ltd. (ELLO) reported significant financial results for Q1 2021, with revenues soaring to approximately €7.2 million, up from €1.9 million in Q1 2020. This growth is attributed to the Talasol PV Plant's operational status and the acquisition of the Gelderland Biogas Plant. However, the company faced a net loss of €2.7 million, alongside increased operating and financing expenses. Notably, EBITDA improved to €2.9 million, reflecting a turnaround from a loss of €0.6 million the previous year. Operational cash flow turned positive, indicating improved financial health.
Ellomay Capital Ltd. (NYSE: ELLO) reported the financial statements of Dorad Energy Ltd. for Q1 2021, showing Dorad's revenues at approximately NIS 513.8 million and an operating profit of around NIS 73 million. Ellomay holds a 9.4% stake in Dorad through Dori Energy. Notably, Dorad's Board approved a dividend distribution of NIS 100 million, of which Dori Energy received approximately NIS 18.8 million. The ongoing COVID-19 pandemic has influenced electricity demand; however, the impact has not yet been material. Ellomay's financial results are expected around June 17, 2021.
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.