Ellomay Capital to draw EUR-100m loan for Italian solar portfolio

Israeli renewables developer and power producer Ellomay Capital Ltd (TASE:ELLO) is looking to arrange up to EUR 110 million (USD 121.3m) in financing for a European entity with a 198-MW Italian solar portfolio comprising operating, under-construction, and ready-to-build projects.

Ellomay Holdings Luxembourg Sarl has signed a commitment letter and term sheet with an unnamed European institutional investor for a non-recourse merchant loan by way of senior secured notes. If agreed the loan may be drawn down in several installments, with a final repayment date of 23 years, a press release said.

The project funding is intended to finance or refinance the construction and related expenses of the Italian solar portfolio.

(EUR 1 = USD 1.103)

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