15 August 2016 2016 02:44 PM GMT

Ellomay Capital Sees Growth, Investing €200m In Dutch Waste To Energy Projects

Ellomay Capital Ltd., an emerging operator in the renewable energy and energy infrastructure sector, has announced a strategic agreement with Ludan Energy Overseas B.V. a wholly-owned subsidiary of Ludan Engineering Co. Ltd. in connection with Waste to Energy (specifically Gasification and Bio-Gas (anaerobic digestion)) projects in the Netherlands. Ludan’s affiliates currently own certain rights in a few biogas plants and were involved in the design and/or construction of fourteen biogas projects in the Netherlands and Spain.

As part of the deal, Ellomay will acquire at least 51% interest in each project while Ludan will hold the remaining 49% stake.The deals are subject to the fulfillment of certain conditions, including projects reaching financial close and receiving a subsidy from the Dutch authorities. The overall cost of the projects is estimated to be approximately €200m.

The operation period for each of the projects is expected to be approximately twelve years. Ludan, by itself or through its affiliates, will act as the engineering, procurement, and construction (“EPC”) contractor and as the operation and maintenance (“O&M”) contractor for the Bio Gas projects, based on specific agreements. In addition, Ludan will  receive a development fee for each project following financial closing in different amounts depending on the projects’ type and size.

Ran Fridrich, CEO of Ellomay noted that “We are excited about this new opportunity and our entry into the Netherlands renewable energy market and the Waste-to-Energy market. The Netherlands’ waste-to-energy market is expected to grow rapidly, as the Dutch government started taking actions to increase the renewable energy usage in order to reduce dependence on traditional fossil fuels. As part of this initiative, actions are taken to significantly increase green gas installations in the Netherlands by 2020, which will also assist the Dutch authorities with mitigating the environmental side effects of the growing Dutch milk industry. This new opportunity is in line with Ellomay’s operating objective to expand its operations in the renewable and clean energy market and exploit attractive investment opportunities.”

Ellomay is based in Israel and since 2009, it has focused its business in the energy and infrastructure sectors worldwide. Ellomay (formerly Nur Macroprinters Ltd.) previously was a supplier of wide format and super-wide format digital printing systems and related products internationally and sold this business to Hewlett-Packard Company during 2008 for more than $100 million.

To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy, and Spain, including:

  • Approximately 22.6MW of photovoltaic power plants in Italy and approximately 7.9MW of photovoltaic power plants in Spain; and
  • 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 850 MW, representing about 6%-8% of Israel’s total current electricity consumption.

Ellomay Capital is controlled by Shlomo Nehama, Hemi Raphael, and Ran Fridrich. Mr. Nehama is one of Israel’s leading businessmen and the former Chairman of Israel’s leading bank, Bank Hapohalim, and Messrs. Raphael and Fridrich both have extensive experience in financial and industrial businesses. These controlling shareholders, along with Ellomay’s dedicated professional management, accumulated substantial experience in structuring business deals internationally.

December 13th 2017
EDF Commissions 179 MW At Two Solar Power Plants In Nevada

Policy makers led by US Senator Harry Reid were present at a celebration formally recognising Switch Stations 1 and 2 solar power plants, with a combined generation capacity of 179 MWac, as fully commissioned and in commercial operation. Senator Reid stated “Less than a decade ago, Nevada’s solar energy landscape was nonexistent, but this commissioning helps fulfil the vision I had to make our state the leader in renewable energy development. A technology giant like Switch committing to using 100% renewable energy is truly visionary and grows our clean energy economy by creating hundreds of good-paying construction jobs here.”

December 8th 2017
Tata Power Solar Commissions India’s First Rooftop Solar Carport In Delhi

Tata Power Solar set another landmark by commissioning an unprecedented rooftop solar project in India – a solar carport on the rooftop of the sprawling 70,000 sq.m Unity One mall, in Rohini, Delhi. The unique rooftop carport is estimated to set off 438 tonnes of carbon emissions annually. The company won the bid in an open tender process fielded by Delhi Metro Rail Corporation for multi-level car parking. The project enables the mall to earn on the unused and excess solar electricity produced. It also cuts down the need to install a second meter or an expensive battery storage system as it is directly connected to the local power grid.

December 12th 2017
Global Trade In Biofuels Featured At International Renewable Mobility Conference

A significant proportion of global energy use, is in transportation. Action is crucially needed to bring about an energy turnaround in this sector and it’s a topic that has moved higher up the political agenda again since Dieselgate, and with growing calls for a rapid introduction of electromobility. In Germany, the Working Group on Energy Balances (AG Energiebilanzen) has calculated the final energy consumption of 728 TWh by the transport sector in 2016. Data from the German Environment Agency (UBA) reveals that over 90 percent of fuel deployed is derived from mineral oil. World-leading experts meeting in a parallel forum at the 15th International Conference on Renewable Mobility will analyse biofuel trading worldwide, examining various perspectives on requirements, the current state of play and forecasts.


 

   

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