Ellomay and Statkraft Sign Long-Term Power Purchase Agreements for Three Operating Italian Solar Plants

Core Viewpoint - Ellomay Capital Ltd. has signed long-term power purchase agreements (PPAs) with Statkraft for three solar plants in Italy, reinforcing its strategy in the renewable energy sector [1][2] Company Overview - Ellomay Capital Ltd. is an Israeli company focused on renewable energy and power generation, with operations in Europe, the USA, and Israel [3] - The company holds a 51% interest in various renewable energy projects, including approximately 335.9 MW of solar power plants in Spain and 38 MW in Italy [3] Recent Developments - The signed PPAs cover 75% of the capacity of three operating solar plants in Italy, totaling approximately 38 MW [1] - The agreements are part of Ellomay's strategy to enhance the value and stability of its renewable platform across key European markets [2] Future Plans - Ellomay aims to structure similar agreements for its remaining Italian solar portfolio, which includes 160 MW under construction, 124 MW with construction permits, and an additional 140 MW expected to receive permits soon [2][9] Strategic Partnerships - The collaboration with Statkraft, Europe's largest renewable energy generator, is expected to strengthen Ellomay's position in the market and provide long-term stability for its renewable assets [2][5] - Statkraft's involvement highlights its commitment to driving the energy transition and delivering competitive green supply solutions [5]