Israel-based Ellomay Capital Ltd. has executed an agreement to purchase three photovoltaic plants with a total capacity of approximately 5.6 MW located in Murcia, Spain. The ground-mounted PV plants have been connected to the Spanish national grid since 2011.
Ellomay will purchase the PV plants and all associated assets and rights for an aggregate purchase price of $13 million, subject to certain adjustments. The closing of the transactions is subject to customary closing conditions and is expected to occur by the end of the third quarter of this year.
The new PV plants are expected to produce approximately $2.7 million in revenue per year and join the company's existing portfolio of 13 facilities in Italy and Spain.
‘The PV plants will be acquired at an attractive price and will contribute to the enhancement and diversification of the company's PV portfolio,’ says Ran Fridrich, CEO of Ellomay.