Ellomay signs deal to buy 5.6 MWp of PV plants in Spain
Jul 21, 2014 - Israel-based investor Ellomay Capital Ltd (NYSEMKT:ELLO) said Monday it had signed definitive agreements to acquire 5.6 MWp of ground-mounted photovoltaic (PV) plants in the Spanish region of Murcia for EUR 9.5 million (USD 12.8m), as anticipated in a press release in May.
The deal comprises three plants connected to the grid in 2011 and owned by an unnamed Spanish company whose German parent has entered into insolvency proceedings.
With the new plants, Ellomay will more than triple its photovoltaic capacity in Spain to nearly 7.9 MWp. Including Italy, the company will surpass 30 MWp and expects annual revenue of EUR 13.2 million from PV assets in full 2014.
Ellomay Capital has focused on energy and infrastructure since 2009, with investments in renewable and clean energy and natural resources in Israel, Italy and Spain.
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