Nofar Energy Finalizes Acquisition of Controlling Stake in Ellomay Capital
In a definitive move signaling a major power shift, O.Y. Nofar Energy Ltd. has completed its acquisition of a controlling interest in Ellomay Capital Ltd. The transaction, finalized on March 4, 2026, saw Ellomay’s principal shareholders divest their combined 45.9% stake. This move represents a significant event in the industry, reflecting ongoing strategic shifts within the renewable energy sector as companies pursue scale and control.
Board Overhaul and New Leadership Direction
The acquisition has triggered a substantial corporate governance overhaul at Ellomay. According to the terms, the transfer of control prompted immediate changes, including the resignation of key figures such as Erez Balasha from his roles as a board member and CEO of subsidiary Ellomay Solar Ltd. Shlomo Nehama, chairman of Ellomay Solar Ltd, also stepped down from his board positions. These high-level departures are part of a broader restructuring that includes the appointment of new independent directors, setting a new strategic course for the company under Nofar’s leadership.
A Strategy Focused on Control and Value Creation
Nofar Energy’s stated purpose for the acquisition was explicitly to gain control of Ellomay. This strategic partnership is designed to leverage Nofar’s dynamic capabilities to unlock the full potential of Ellomay’s existing assets and project pipeline. By integrating Nofar’s expertise in developing large-scale projects, such as constructing the largest solar power plant in Serbia, with Ellomay’s established infrastructure, the new leadership aims to create substantial value for its shareholders and enhance its competitive edge.
Profiles of the Key Players
Ellomay Capital is a public company traded on the NYSE American, known for developing renewable energy and infrastructure projects across Europe and Israel, with a strong focus on solar photovoltaic (PV) projects through its subsidiary, Ellomay Solar Ltd. O.Y. Nofar Energy is a prominent Israeli renewable energy firm with a global footprint, specializing in the development of solar Photovoltaic (PV) systems, energy storage, and EV charging infrastructure. The market reacted positively to the news, with Nofar Energy’s stock (TASE: NOFR) seeing a boost following the announcement.
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