Ellomay Capital Signs Two Photovoltaic Project Contracts

Israel-based Ellomay Capital Ltd. has entered into two engineering, procurement and construction (EPC) contracts with an Italian contractor for the design, supply, construction, assembly and commissioning of two photovoltaic plants of approximately 750 kW each.

The projects will be located in the Marche region in Italy, at an aggregate cost of approximately 5.6 million euros. Additional ancillary expenses in connection with the construction period of the EPC project are expected to amount to approximately 150,000 euros. The systems will be equipped with tracker technology.

These contracts require 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. Time to connection to the national grid is estimated at approximately 150 days from first payment.

SOURCE: Ellomay Capital Ltd.

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