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.

October 16th 2017
Nordex Adds To Successes In Argentina, Winning 100 MW Pomona Wind Farm Order

The Nordex Group has added a further chapter to its success story in Argentina with an order for 26 N131/3900 turbines for the “Pomona” wind farm. The contract will be executed on a full EPC basis, including civil and electrical engineering, procurement, construction and manufacturing, delivery and installation of the wind turbines. Preparations for construction will be commencing in 2017, after which the wind power systems will be installed at the beginning of 2019. In addition, a ten-year full operation and maintenance contract has also been signed. 

October 10th 2017
Enel Starts Construction Of Australia’s Largest Solar PV Project

The Bungala Solar One facility is part of the Bungala Solar PV Project and will have an installed capacity of 137.7 MW out of a total of more than 275 MW for the whole project, that will be able to produce 570 GWh per year. The facility will cover an area of approximately 300 hectares and will consist of about 420,000 polycrystalline PV modules mounted on single-axis tracker structures which will follow the Sun’s path from east to west; increasing the amount of energy produced by the plant, compared to PV modules with fixed structures. The overall Bungala Solar PV project is expected to become fully operational in early 2019.

October 16th 2017
Uganda Inaugurates Breakthrough Tororo PV Plant. A Future Model For Africa?

Production has commenced at the Tororo PV power plant; which, with 16 GWh of renewable energy generated annually, will cater for the energy requirements of 35,838 people and help reduce CO2 emissions by 7,200 tons. Overall, $19.6 million was invested to build the 10 MWp plant, with the engagement of several major organisations including KfW and FMO Development Banks, the World Bank and the EU. Attilio Pacifici, EU Ambassador said, “One of the key objectives of this plan is to encourage private sector participation in higher risk investments and we’re happy to demonstrate that Uganda is well positioned to be successful and a good model for replication.”


 

   

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