Ellomay Capital Announces the Closing of the Investment by Clal Insurance in Ellomay Capital's 198 MW Italian Solar Portfolio

June 20, 2025 06:45 ET | Source: Ellomay Capital Ltd Tel-Aviv, Israel, June 20, 2025 (GLOBE NEWSWIRE) -- Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe, Israel and the USA, today announced the closing of the investment transaction with Clal Insurance Company Ltd. (“Clal”), a leading Israeli institutional investor, 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. For more information concerning the transaction and agreements with Clal, including the warrant to purchase ordinary shares of the Company issued to Clal upon consummation of the transaction, see Item 4 of the Company’s annual report on Form 20-F for the year ended December 31, 2024, submitted to the Securities and Exchange Commission on April 30, 2025. Ran Fridrich, CEO and a board member of Ellomay, commented: “We are pleased to announce the successful consummation of our collaboration with Clal on the 198 MW Italian solar portfolio. This transaction marks a significant milestone in Ellomay’s strategic growth and development plan. We see this partnership with Clal as a strong vote of confidence in Ellomay’s vision, its portfolio, and its leadership team. We extend our sincere thanks to both teams for their dedication and hard work in bringing this complex transaction to a successful close.” About Ellomay Capital Ltd. Ellomay is an Israeli based company whose shares are listed on the NYSE American and on the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay focuses its business in the renewable energy and power sectors in Europe, the USA 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, Spain, the Netherlands and Texas, USA, including: Approximately 335.9 MW of operating solar power plants in Spain (including a 300 MW solar plant in owned by Talasol, which is 51% owned by the Company) and 51% of approximately 38 MW of operating solar power plants in Italy;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 850MW, representing about 6%-8% of Israel’s total current electricity consumption;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 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;51% of solar projects in Italy with an aggregate capacity of 160 MW that commenced construction processes;Solar projects in Italy with an aggregate capacity of 134 MW that have reached “ready to build” status; andSolar projects in the Dallas Metropolitan area, Texas, USA with an aggregate capacity of approximately 27 MW that connected to the grid and additional 22 MW that are under construction. 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 changes in electricity prices and demand, regulatory changes increases in interest rates and inflation, 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, the impact of the war and hostilities in Israel and Gaza, the impact of the continued military conflict between Russia and Ukraine, technical and other disruptions in the operations or construction of the power plants owned by the Company and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. 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 Rubenbach (Weintraub) CFO Tel: +972 (3) 797-1111 Email: hilai@ellomay.com

Ellomay Capital Announces the Closing of the Investment by Clal Insurance in Ellomay Capital's 198 MW Italian Solar Portfolio

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