ELLO News & Events

Ellomay Capital announced the results of the separation process with respect to Ellomay Luzon Energy Infrastructures, currently held in equal parts by the company and Amos Luzon Development and Energy Group. Ellomay Luzon Energy's main asset is its holding of 33.75% of Dorad Energy Ltd. The separation process was conducted on March 27, 2026, following the Israeli court's ruling and the appointment of Judge Hila Gerstel to act as the ruler regarding the separation process. The separation process resulted in the Luzon Group committing to acquire the Ellomay Luzon Energy shares indirectly held by the company at a Dorad valuation of NIS 4.4B. As of the date hereof, based on the company's indirect holdings in Dorad and the current value of 50% of the other assets and liabilities of Ellomay Luzon Energy, the consideration is approximately NIS 560M. Ellomay Clean Energy LP and the Luzon Group entered into a share purchase agreement on March 27, 2026. The consummation of the sale is subject to customary closing conditions, including the approvals of the Israeli Electricity Authority, the Israeli Competition Authority and Ellomay Luzon Energy's lenders, all to the extent required.

Ellomay Capital announced that the Israeli National Licensing Authority approved the request for issuance of a building permit to Dorad Energy for the expansion of the power plant owned by Dorad. The approval covers the construction of a new generating unit with a capacity of approximately 650 MW, as well as all the required accompanying engineering works, including the installation of a new turbine.

Ellomay Capital announced the closing of the investment transaction with Clal Insurance Company in the Company's 198 MW solar portfolio of operating projects and projects under construction and development in Italy. In consideration for its investment in the Italian solar portfolio, Clal received a 49% interest in the portfolio.

Ellomay Capital entered into an investment agreement with Clal Insurance, an Israeli institutional investor, and several of its affiliates, for an aggregate investment by Clal of approximately EUR52M. Clal and Ellomay will set up a new Israeli limited partnership in which an entity wholly-owned by Ellomay will be the general partner and Ellomay will hold 51% of the limited partner interests and Clal will hold the remaining 49%. The Israeli LP will wholly-own a newly founded Luxembourg entity, to which Ellomay's wholly-owned subsidiary, Ellomay Luxembourg, will transfer all of the issued and outstanding shares of seven Italian project companies, who hold a solar portfolio in an aggregate capacity of approximately 198 MW. Project finance agreements were executed with respect to the Italian Solar Portfolio in March. The Clal Agreement provides that upon consummation of the transactions contemplated by the Clal Agreement, Ellomay and Clal will sign a partners agreement and Ellomay will issue Clal a warrant. The consummation of the transactions contemplated by the Clal Agreement is subject to the fulfillment or waiver of several customary conditions to closing, including receipt of regulatory approvals, that are not entirely within the control of Ellomay, Ellomay Luxembourg, Clal or the Israeli LP.