Ellomay Capital Enters Into An Agreement To Sell The Talmei Yosef Solar Facility To Greenlight Fund Limited Partnership And Doral Group Renewable Energy Resources Ltd., In Equal Parts, In Consideration For Approximately $12.2M
Portfolio Pulse from Benzinga Newsdesk
Ellomay Capital Ltd. (NYSE:ELLO) has agreed to sell its 9 MW Talmei Yosef solar facility in Israel to Greenlight Fund Limited Partnership and Doral Group Renewable Energy Resources Ltd. for approximately $12.2 million, with a potential additional payment of up to $1.1 million. The sale is subject to regulatory approvals, consent of the financing entity, and the end of the war in southern Israel. The company retains rights to two development projects nearby. The sale's completion is uncertain due to conditions largely outside the company's control.
January 03, 2024 | 9:16 pm
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Ellomay Capital is selling its Talmei Yosef solar facility for $12.2M, subject to conditions including regulatory approvals and the end of regional hostilities. The deal includes potential additional payments and retains rights to nearby development projects.
The sale of the Talmei Yosef solar facility could provide a financial boost to Ellomay Capital, assuming the deal closes successfully. The additional cash inflow and retained development rights could be viewed positively by investors. However, the deal's dependency on regulatory approvals and the resolution of regional conflicts introduces uncertainty, which tempers the potential impact.
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