Ellomay Capital

Ellomay Capital

Ellomay Capital was founded in 1987 and is led by CEO Ran Fridrich alongside Chairman Shlomo Nehama, a former chairman of Bank Hapoalim. The firm is publicly traded on the Tel Aviv and NYSE American exchanges. It operates as a developer and operator of utility-scale renewable energy projects, with the bulk of its deployed capital concentrated in photovoltaic solar plants and anaerobic digestion biogas facilities across Europe. The portfolio spans solar, biogas, and energy infrastructure. In Spain, Ellomay owns a portfolio of operational photovoltaic plants totaling hundreds of megawatts in generation capacity. Its Italian biogas operations consist of multiple anaerobic digestion facilities that convert agricultural waste into electricity. A minority stake in Dorad Energy, Israel's largest private power plant, adds conventional fossil-fuel generation to the mix. This combination makes Ellomay a hybrid of a greenfield developer, an operational yieldco, and a strategic minority holder in conventional energy. Ellomay maintains operational offices in Madrid and Milan, reflecting its geographic concentration in Spain and Italy. The firm has been active in capital markets as a public issuer to fund growth. In recent years, it has expanded its Spanish solar footprint significantly. In April 2023, Ellomay entered an agreement to acquire a controlling stake in a Spanish photovoltaic project portfolio, reinforcing its commitment to the Iberian market (per the firm, April 2023). A structural differentiator for Ellomay is its dual-listed nature on an Israeli and US exchange, giving it access to retail and institutional equity capital not typically available to a mid-market project developer. Unlike a traditional family office or closed-end fund, Ellomay is a permanent capital vehicle that holds and operates assets rather than flipping them to a fund lifecycle schedule.