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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 $472 million). Amongst the conditions fulfilled is the financial closing of the long-term project finance facilities for the Manara Project (the ....

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