Ellomay Capital Ltd., based in Tel-Aviv, Israel, has finalized an investment deal with Clal Insurance Company Ltd., a prominent Israeli institutional investor. The investment focuses on Ellomay’s 198 MW solar portfolio in Italy, which includes both operational and developing projects. As part of the agreement, Clal Insurance acquired a 49% stake in this solar portfolio.
This collaboration represents a strategic advancement for Ellomay, which develops and manages renewable energy projects across Europe, Israel, and the USA. According to Ran Fridrich, CEO of Ellomay, this partnership underscores confidence in the company’s strategic vision and operational capabilities.
Ellomay Capital has been actively investing in the renewable energy sector since 2009, focusing on solar projects and other clean energy initiatives across various countries. The company currently operates approximately 335.9 MW of solar plants in Spain, including a significant 300 MW facility owned by Talasol, which is 51% controlled by Ellomay. In Italy, Ellomay holds a 51% interest in solar projects totaling 38 MW.
Beyond its solar investments, Ellomay has a 9.375% indirect interest in Dorad Energy Ltd., which operates one of Israel’s largest private power plants, contributing about 6%-8% of the country’s electricity consumption. The company also has interests in anaerobic digestion plants in the Netherlands, which collectively produce green gas at an annual capacity of approximately 16.3 million Nm3.
Additionally, Ellomay is developing a 156 MW pumped storage hydroelectric project in Israel and has solar projects in Texas, USA, totaling approximately 49 MW, with some connected to the grid and others under construction.
The investment from Clal Insurance is expected to bolster Ellomay’s growth strategy, allowing for further expansion of its renewable energy portfolio. For more details on this transaction, stakeholders can refer to item 4 of the Company’s annual report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission.
This partnership signifies a growing trend of institutional investment in renewable energy, aligning with global efforts to transition towards more sustainable energy sources.
