TEL AVIV, Israel, April 19, 2021 /PRNewswire/ -- Ellomay
Capital Ltd. (NYSE American: ELLO) (TASE: ELLO)
("Ellomay" or the "Company"), a
renewable energy and power generator and developer of renewable
energy and power projects in Europe and Israel, today announced that the
notice to commence was issued to Electra Infrastructure Ltd., the
engineering, procurement and construction contractor of the 156 MW
pumped storage hydro power plant in the Manara Cliff, Israel (the "Manara Project"). The
expected construction commencement date is April 20, 2021 and the construction period of the
Manara Project is expected to be 62.5 months. The Company
indirectly owns 83.333% of Ellomay Pumped Storage (2014) Ltd., the
project company that owns the Manara Project.
Ran Fridrich, CEO and a board member of Ellomay
commented: "The Company is pleased to announce the issuance of the
notice to commence construction to the EPC contractor. The issuance
of the notice to commence is a significant milestone in the path to
construction of the project."
About Ellomay Capital Ltd.
Ellomay is an Israeli based company whose shares are registered
with the NYSE American and with the Tel Aviv Stock Exchange under
the trading symbol "ELLO". Since 2009, Ellomay Capital focuses
its business in the renewable energy and power sectors in
Europe and Israel.
To date, Ellomay has evaluated numerous opportunities and
invested significant funds in the renewable, clean energy and
natural resources industries in Israel, Italy
and Spain, including:
- Approximately 7.9MW of photovoltaic power plants in
Spain and a photovoltaic power
plant of approximately 9 MW in Israel;
- 9.375% indirect interest in Dorad Energy Ltd., which owns and
operates one of Israel's largest
private power plants with production capacity of approximately
860MW, representing about 6%-8% of Israel's total current electricity
consumption;
- 51% of Talasol, which owns a photovoltaic plant with a peak
capacity of 300MW in the municipality of Talaván, Cáceres,
Spain;
- Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas
Gelderland B.V., project companies operating anaerobic digestion
plants in the Netherlands, with a
green gas production capacity of approximately 3 million, 3.8
million and 9.5 million (with a license to produce 7.5 million) Nm3
per year, respectively;
- 83.333% of Ellomay Pumped Storage (2014) Ltd., which is
involved in a project to construct a 156 MW pumped storage hydro
power plant in the Manara Cliff, Israel.
For more information about Ellomay, visit
http://www.ellomay.com.
Information Relating to Forward-Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties, including statements
that are based on the current expectations and assumptions of the
Company's management. All statements, other than statements of
historical facts, included in this press release regarding the
Company's plans and objectives, expectations and assumptions of
management are forward-looking statements. The use of certain
words, including the words "estimate," "project," "intend,"
"expect," "believe" and similar expressions are intended to
identify forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The Company
may not actually achieve the plans, intentions or expectations
disclosed in the forward-looking statements and you should not
place undue reliance on the Company's forward-looking statements.
Various important factors could cause actual results or events to
differ materially from those that may be expressed or implied by
the Company's forward-looking statements, including all of the
risks relating to projects under development and in the
construction stage, including specific risks relating to the Manara
Project, and the impact of the Covid-19 pandemic on the Company's
operations and projects, including in connection with steps taken
by authorities in countries in which the Company operates, changes
in the market price of electricity and in demand, regulatory
changes, changes in the supply and prices of resources required for
the operation of the Company's facilities (such as waste and
natural gas) and in the price of oil, and technical and other
disruptions in the operations or construction of the power plants
owned by the Company. These and other risks and uncertainties
associated with the Company's business are described in greater
detail in the filings the Company makes from time to time with
Securities and Exchange Commission, including its Annual Report on
Form 20-F. The forward-looking statements are made as of this date
and the Company does not undertake any obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact:
Kalia Weintraub
CFO
Tel: +972 (3) 797-1111
Email: hilai@ellomay.com
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SOURCE Ellomay Capital Ltd