Ellomay Capital Ltd., a renewable energy company specializing in the development and operation of power projects in Europe, Israel, and the U.S., has announced that its wholly-owned subsidiary, Ellomay Holdings Luxembourg Sarl, has secured financing for its solar energy portfolio in Italy. This portfolio, known as the Italian Solar Portfolio, includes a total of 198 MW of solar capacity, comprising both operational and ready-to-build projects.
As part of this financing agreement, Ellomay Luxembourg has partnered with a leading European institutional investor to secure up to €110 million in project financing. These funds will be provided through senior secured notes issued in multiple tranches throughout the construction phase. The notes will carry an interest rate of 4.50% per annum and will be repaid in semi-annual installments until their maturity on December 31, 2047.
The Italian Solar Portfolio currently includes three solar facilities with a combined capacity of approximately 38 MW that are already operational and connected to the grid. Additionally, it includes projects totaling around 160 MW that have reached ready-to-build status. The secured financing will support the construction and associated costs of these projects, further expanding Ellomay’s presence in the European renewable energy sector. The financial closing for this project financing is expected to take place in the coming weeks, marking a significant step in Ellomay’s continued investment in sustainable energy solutions.
