Spain (28 MW)
Ellomay is promoting a PV plant with a peak capacity of 28 MW in a plot adjacent to the land on which the Talasol Project is constructed. Ellomay received a grid connection permit and executed a land lease agreement. The plant is expected to become operational during 2021.
Framework Agreements for Development of PV Projects in Italy (550 MW)
First Framework Agreement
In November 2019, Ellomay executed a Framework Agreement with an established and experienced European developer and contractor. Pursuant to this Framework Agreement, the developer will scout and develop photovoltaic greenfield projects in Italy with the aim of reaching an aggregate authorized capacity of at least 250 MW over a three-year period.
Second Framework Agreement
In December, 2019, Ellomay executed an additional Framework Agreement with an established and experienced European developer. Pursuant to the additional Framework Agreement, the developer will provide Ellomay with development services with respect to photovoltaic greenfield projects in Italy in the scope of 350 MW with the aim of reaching an aggregate “ready to build” authorized capacity of at least 265 MW over a forty-one month period.
In addition to the 265 MW mentioned above, Ellomay Luxembourg has the option to purchase approximately 37 MW that are already under development by the developer, 30 MW of which have already received the approval for connection to the Italian electricity grid.
There can be no assurance as to the aggregate capacity of projects that will reach the “ready to build” status, and as to our decision and success in completing construction of any of such projects.
Pumped-Storage Development Project - Manara Cliff, Israel (156 MW)
Pumped storage is a form of renewable energy based on hydropower. A pumped storage power plant is capable of generating electric energy on demand, and is one of the oldest technologies used for energy storage. The technology has been in use for more than 100 years, providing over 100,000 MW around the world.
The technology allows storing available energy for later use. The pumped storage technology stores energy during low demand periods and releases it during peak demand periods, thereby utilizing the gap in production costs in order to stabilize the grid’s voltage and regulation.
A pumped storage plant is a hydro-storage system comprised of upper and lower water reservoirs, connected by an underground water pressure pipe: during low demand – pumping water from the lower reservoir for energy storage, and during peak demand – releasing water from the upper reservoir for energy production. The technology utilizes excess manufacturing ability during low demand hours in order to increase supply during peak demand hours, thus providing available reserve to be used by the grid dispatcher during peak and low demand periods.
Pumped storage also allows optimal grid stability functionality by providing a combination of low latency, high power and high energy response (~90 sec).
Ellomay owns 75% of the companies involved in the development of the pumped-storage plant in the Manara Cliff, located in Northern Israel, south of the town of Kiryat-Shmona, with a capacity of 156 MW. According to the current construction plans of the pumped storage project, the plant will be based on water reservoirs built on agricultural land. The upper water reservoir will be located near Kibbutz Manara and the lower water reservoir will be based on an existing reservoir near Kiryat-Shmona.
Ellomay Manara entered into land lease option agreements with land owners, in order to secure land use rights for the duration of the construction phase and the commercial operation of the plant, and a water supply agreement with the Galil Elyon Water Association, in order to secure water supply for the project for the duration of the commercial operation.
Ellomay also performed geological and hydrology surveys, and an environmental impact assessment.
The financial closing of the Manara Project is subject to the availability of a quota for pumped storage plants and the general quota set forth by the Israeli Electricity Authority for pumped-storage projects in Israel is currently set at 800 MW, while conditional licenses issued are in excess of such quota.