Ellomay Capital Ltd. has entered into two additional engineering, procurement and construction contracts with an Italian contractor for the design, supply, construction, assembly and commissioning of photovoltaic plants of approximately 1 MW each, to be located in the province of Foggia, Troia, Italy, at an aggregate cost of approximately 6.9 million euros.
These projects join the company's four existing photovoltaic plants in the Marche region in Italy that are currently under construction. The new contract requires the contractor to procure delivery of two fully operational photovoltaic plants, including the connection of the solar power plants to the Italian national grid, in order to sell the produced power to the Italian national energy handler. The projects are expected to be connected to the grid by the end of the year.
In addition, Ellomay Capital has entered into agreements with an Italian contractor contemplating the purchase of photovoltaic plants of up to approximately 1.3 MW, to be located in the Puglia region of Italy. Under the agreements, the company undertook to purchase two Italian companies who are in the process of construction of the Puglia plants, and it will transfer a deposit in the aggregate amount of 910,000 euros upon execution.
SOURCE: Ellomay Capital Ltd.