Article

Nofar Energy has agreed to acquire a controlling stake in Ellomay Capital for about $323 million. This deal will enable Nofar to take control of Ellomay's operations and integrate its portfolio of renewable energy projects, which includes solar initiatives in Europe and Israel, as well as a pumped storage hydro project.

The acquisition aims to enhance Nofar's global footprint and project pipeline, improving operational efficiency. It also provides Ellomay with increased access to capital to advance its projects. The transaction is pending regulatory approvals.