Ellomay Capital Ltd. Announces Fulfillment of Conditions Precedent under the Conditional License of the Manara Project, including Financial Closing and Execution of EPC and O&M Agreements
Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (" Ellomay" or the " Company"), a renewable energy and power generator and developer of renewable energy and power projects in Europe and Israel, today announced all conditions precedent were met under the conditional license issued to the pumped storage hydro project to be constructed in the Manara Cliff, Israel (the " Manara Project"). The Company indirectly owns 83.333% of Ellomay Pumped Storage (2014) Ltd. (the " SPC"), which owns the Manara Project. The Manara Project is projected to cost approximately NIS 1.53 billion (approximately...
Source: prnewswire.com