Ellomay Capital’s wholly-owned subsidiary, Ellomay Luxembourg Holdings, will sell 49% of the outstanding shares of Talasol Solar to GSE 3 UK Limited and Fond-ICO Infraestructuras II.
GSE 3 UK Limited and Fond-ICO Infraestructuras II will pay US$18.1 million for the 49% of Talasol's shares and 49% of the shareholder development loans funding the development budget.
Talasol is promoting the construction of a 300MW PV project located in the municipality of Talaván, in Extramadura, Spain.
Ran Fridrich, CEO and a board member of Ellomay, said: “The entry of partners to Talasol, which is expected to be one of the largest photovoltaic projects in Europe, will mark the final milestone for financial closing and commencement of construction of the project, which will take place right after. The transaction enables us to create an optimal ownership structure that includes entities with advantages both on the local level and on the financial level, alongside the continued control of the project by Ellomay.”