Israel-based Ellomay Capital Ltd. has closed on the purchase of two photovoltaic sites in the Veneto region of northern Italy with a combined capacity of 12 MW. The company says the final purchase price of the PV sites was adjusted to EUR 23.5 million to reflect earlier payments.
Ellomay says the two PV sites have been connected to the grid since August 2011 and are entitled to a feed-in tariff of EUR 23.8 cents per kWh over and above the electricity rate until August 2031. The sites are expected to generate average annual revenues of approximately EUR 4.7 million.
