Ellomay Capital Ltd. has completed the sale of its indirect holdings in Dorad Energy Ltd. through its subsidiary Ellomay Luzon Energy Infrastructures Ltd. The transaction, which transferred a 33.75 % stake in Dorad, closed on March 30, 2026 and generated a cash consideration of approximately NIS 560 million. The deal is subject to customary closing conditions, including approvals from the Israeli Electricity Authority, the Israeli Competition Authority, and the lenders of Ellomay Luzon, and an escrow deposit of NIS 72 million from each party.
The sale marks a strategic shift for Ellomay, which has been pursuing a European‑focused solar portfolio. By divesting its Israeli exposure, the company frees capital that can be deployed to expand solar projects in Europe or to reduce debt, thereby improving its leverage profile. CEO Ran Fridrich said the transaction “reflects the significant value created in this asset over time” and will deliver a substantial profit, underscoring the company’s disciplined portfolio management approach.
Financially, the NIS 560 million cash injection represents a sizable liquidity boost. Ellomay’s Q3 2025 results showed revenues of €12.7 million and a profit of €10.1 million, while Dorad’s Q3 2025 revenue was NIS 919.1 million with an operating profit of NIS 205.8 million. The proceeds will strengthen Ellomay’s balance sheet and provide flexibility for future growth or debt reduction.
The transaction is still contingent on regulatory approvals and the fulfillment of a seven‑and‑a‑half‑month closing deadline. An escrow deposit of NIS 72 million from each party has been placed to secure the deal, and the parties are working to satisfy all required conditions before the final transfer of ownership.
The sale occurs against a backdrop of Israel’s electricity sector reform, which aims to increase competition and renewable energy participation. Dorad operates a combined‑cycle power plant with a capacity of about 840 MW, making it a key Israeli power asset. The divestiture follows a December 2025 agreement in which Nofar Energy acquired a controlling stake in Ellomay Capital, valuing the company at NIS 1 billion, and reflects Ellomay’s broader strategy to streamline its asset base and focus on high‑growth markets.
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