(NEGDONG, January 4, 2024) Ellomay Capital Ltd., a developer of renewable energy and electric power generation and renewable energy and power projects in Europe, the US and Israel, announced the execution of an agreement to sell its shares in Talmei Yosef's 9-megawatt solar facility (“Talmei Yosef Facility”) in Israel.

The agreement stipulates that the company will sell shares in the Talmei Yosef facility to Greenlight Fund Limited Partnership and Doral Group Renewable Energy Resources Ltd., for a consideration of approximately US$12.2 million. The agreement stipulates that the deadline is June 30, 2023, and the company will be entitled to receive all revenue from the Talmei Yosef facility up to that date, deducting expenses for that period.

Once the sale is complete, the company will retain the rights to two projects under development located near the Talmei Yosef facility: (i) a solar facility for 10 megawatts of solar energy and a 22 MW/hour battery storage facility, and (ii) a battery storage facility for approximately 400 MW/hour.