Nofar Energy’s Strategic Move: Ellomay Nofar stake sale Acquisition
Ellomay Capital Ltd. announced on December 16, 2025, that it has executed a significant agreement for the sale of a controlling stake in the company to O.Y. Nofar Energy Ltd. Key shareholders Shlomo Nehama, Meir Gurvitz, and Erez Balasha have agreed to sell their shares, constituting approximately 46% of Ellomay’s outstanding shares and votes. This type of major transaction reflects a growing trend of strategic shifts within the renewable energy sector as companies look to consolidate and scale their operations. The deal is currently pending regulatory approvals.
Change in Leadership Following the Ellomay Nofar stake sale
As part of the acquisition agreement, several leadership changes will take place. Erez Balasha will resign from his positions on Ellomay’s board of directors and as Chief Executive Officer (CEO) of its subsidiary, Ellomay Solar Ltd. Shlomo Nehama, chairman of the board of Ellomay Solar Ltd, will also step down from his roles on the boards of both Ellomay Solar Ltd. and Ellomay’s Spanish subsidiary. Furthermore, a director named Amit will resign from his position at Ellomay Solar Ltd.
Following these resignations, O.Y. Nofar Energy will appoint Amit as a new director of Ellomay. Additionally, Amit will assume the role of chairman of the board for Ellomay Solar Ltd. and will join the boards of Ellomay’s Spanish subsidiaries, signaling a new direction for these entities.
Strategic Partnership Between Ellomay and Nofar Energy After Ellomay Nofar stake sale
The transaction is being framed as a strategic partnership designed to maximize the value of Ellomay’s existing assets and future projects. Both companies have expressed confidence that this collaboration will significantly enhance Ellomay’s operational capabilities and create substantial value for its shareholders. The synergy between Nofar’s expansive portfolio and Ellomay’s established infrastructure is expected to drive growth and innovation in the competitive renewable energy market.
About Ellomay Capital
Ellomay Capital Ltd. is a prominent renewable energy and infrastructure company with a focus on projects across Europe and Israel. Headquartered in Tel Aviv, Israel, and led by Chairman and CEO Ran Fridrich, the company has a strong track record in developing and operating renewable energy assets. Ellomay Capital’s shares are publicly traded on the NYSE American stock exchange, underscoring its commitment to transparency and shareholder value.
About Ellomay Solar Ltd
Ellomay Solar Ltd, a key subsidiary of Ellomay Capital Ltd, is a pivotal player in the renewable energy sector. The Israel-based company specializes in the development, ownership, and operation of solar photovoltaic (PV) projects. With a robust presence in the market, Ellomay Solar is dedicated to advancing sustainable energy solutions throughout Europe and Israel, boasting a significant portfolio of operational and under-construction projects.
About O.Y. Nofar Energy Ltd
O.Y. Nofar Energy Ltd. is a leading Israeli renewable energy company specializing in the development, construction, and operation of solar Photovoltaic (PV) systems, energy storage facilities, and electric vehicle (EV) charging stations. Founded by Ofer Yodfat, Nofar Energy has cultivated a strong presence in the global market, with projects in Israel, Europe, and the United States. The company’s ambitious expansion includes noteworthy projects such as constructing the largest solar power plant in Serbia.
Positive Market Reaction to the Ellomay Nofar stake sale
The market has responded favorably to the news of the acquisition. O.Y. Nofar Energy Ltd. (TASE symbol: NOFR) saw an increase in its stock price following the announcement. This acquisition is widely expected to strengthen Nofar Energy’s position in the renewable energy market and unlock new growth opportunities.
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