Ellomay to develop 265 MW photovoltaic projects in Italy

Israeli firm Ellomay Capital Ltd., developer of renewable energy and power projects in Europe and Israel, announced the execution of a framework agreement between its wholly-owned subsidiary, Ellomay Luxembourg Holdings S.àr.l. and an unnamed European project developer. The developer will provide Ellomay Luxembourg with development services with respect to photovoltaic greenfield projects in Italy in the scope of 350 MW with the aim of reaching an aggregate »ready to build« authorized capacity of at least 265 MW over a forty-one months period.
In addition, Ellomay Luxembourg has the option to purchase approximately 37 MW that are already under development by the developer, 30 MW of which have already received the approval for connection to the Italian electricity grid.
The agreement provides that the developer will offer all projects identified exclusively to Ellomay and that, with respect to each project acquired by Ellomay Luxembourg, the developer will be entitled to provide development services until it reaches the »ready to build« status.

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