Ellomay Executes Agreement For Development Of Photovoltaic Projects In Italy

(RTTNews) - Ellomay Capital Ltd. (ELLO) said that it has executed a Framework Agreement between its wholly-owned subsidiary, Ellomay Luxembourg Holdings S.àr.l.,and an established and experienced European developer.

As per the Framework Agreement, the European Developer will provide Ellomay Luxembourg with development services with respect to photovoltaic greenfield projects in Italy in the scope of 350 MW with the aim of reaching an aggregate "ready to build" authorized capacity of at least 265 MW over a forty-one months period.

Ellomay Luxembourg has the option to purchase about 37 MW that are already under development by the Developer, 30 MW of which have already received the approval for connection to the Italian electricity grid.