Ellomay Capital Business Summary

Ellomay Capital Ltd. (ELLO) operates as a renewable energy and power generator, primarily generating revenue through the sale of electricity produced by its diversified portfolio of energy assets. The company’s primary business segments include photovoltaic (PV) power plants in Spain, Israel, and Italy; anaerobic digestion (biogas) plants in the Netherlands; and a significant 83.3% stake in the 156 MW Manara Cliff pumped storage hydro project in Israel. Additionally, Ellomay maintains a strategic 16.875% indirect interest in Dorad Energy Ltd., which operates one of Israel's largest private conventional power plants. The company differentiates itself through a multi-technology approach, balancing stable feed-in tariff income with merchant market exposure. Direct competitors include Enlight Renewable Energy, Energix Renewable Energies, and NextEra Energy Partners; Ellomay positions itself as a specialized mid-cap player with a high-density footprint in the Mediterranean and Northern European green energy markets. Leadership is currently spearheaded by CEO and Director Ran Fridrich, a co-founder with a background in fixed-income and structured finance who has led the company since 2009. He is supported by CFO Kalia Rubenbach, a former Ernst & Young CPA who has managed the firm’s financials for over 15 years, and COO Yehuda Saban, who oversees global operations. The Board is chaired by Ben Sheizaf, an insurance and finance veteran appointed in late 2024. A pivotal shift in the company’s capital structure is currently underway as of February 2026, with O.Y. Nofar Energy Ltd. finalizing the acquisition of a 45.9% controlling stake from the founding group, which includes former Bank Hapoalim Chairman Shlomo Nehama and Hemi Raphael. Other notable institutional backers include the Yelin Lapidot investment group, which maintains a 10.24% beneficial ownership stake as of early 2026.