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.

January 10th 2018
US: Doubling Of Wind & Solar Capacity Possible By 2020 as Coal & Nuclear Drop

In the latest issue of its “Energy Infrastructure Update” (with data through November 30, 2017), the Federal Energy Regulatory Commission (FERC) notes that proposed net additions to generating capacity by utility-scale wind and solar could total 115,984 megawatts (MW) by December 2020 – effectively doubling their current installed capacity of 115,520 MW.  The numbers were released as FERC prepares for a January 10 meeting to consider U.S. Department of Energy Secretary Rick Perry’s proposal for a bailout of the coal and nuclear industries.

December 27th 2017
Rooftop PV Presents a $23 Billion Opportunity in India Over The Next 5 Years

India is accelerating development of renewable energy projects to provide cheap, reliable and clean power to its 1.3 billion people. The country’s per-capita on-grid electricity consumption has increased significantly over the four years; due to increased industrial activity, higher uptake of electrical appliances by residential electricity users and the addition of new consumers to the grid. During this period, the cost of electricity from rooftop PV has halved, due to fierce competition in the market and a drop in equipment prices. In contrast, average retail electricity rates have increased by 22% in the same period. This has made rooftop PV cheaper than commercial and industrial grid tariffs in all major states in India.

January 22nd 2018
European Parliament Gives A Resounding Vote In Favour Of Clean Energy In Europe

European lawmakers have called for a renewable energy target of 35% for 2030 – rather than the 27% which the European Commission proposed in 2016. The MEPs have now backed measures substantially raising the European Union’s clean-energy ambitions. By 2030, more than one-third of energy consumed in the EU should be from renewable sources such as wind and solar power. The measures are intended to help cut carbon dioxide emissions. The EU is the world’s third-largest emitter of greenhouse gases after China and the United States, releasing about 10% of global emissions. 


 

   

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