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Ellomay Capital owns solar plants in Spain, Italy and Texas that generally sell electricity to local grid operators at market-based prices. Solar generation supplies most of its revenue, and the Talasol plant in Spain contributes a large share on its own. Talasol sells its electricity on the open market, but a financial agreement stabilizes the price received for much of its output: the counterparty pays Talasol when market prices fall below the agreed level, and Talasol pays the counterparty when prices rise above it.
The other major revenue source is its Dutch biogas business. Groen Gas Goor, Groen Gas Oude-Tonge and Groen Gas Gelderland use biological digestion of feedstock to produce green gas. Sales to contracted buyers, green-gas certificates and government subsidies support this business. Production depends on a steady supply of suitable feedstock and a functioning biological process.
In Israel, Ellomay holds a minority interest in Dorad, a natural-gas power plant that sells electricity to consumers and receives payments from the system manager for available capacity and energy. Ellomay agreed to sell all its Dorad holdings in March 2026. Its Manara pumped-storage project remains under construction and earns no revenue yet. Once approved for commercial operation, Manara must supply all available capacity and energy to Noga, the system manager; it cannot sell directly to private customers.
Operating income depends on sunlight, energy prices and applicable government support. Plants need permits and continued grid access, while projects under development require financing. Manara must also meet construction-license milestones to retain its authorization.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Enlight Renewable Energy Ltd. competes with Ellomay for solar projects, grid connections and electricity-sale contracts in Europe, Israel and the United States. Both develop and operate solar plants; Enlight’s progress securing long-term buyers for its electricity is worth watching as Ellomay seeks contracts for its Italian solar portfolio.
KENON HOLDINGS LTD.’s OPC competes with Ellomay’s Dorad investment to sell electricity to Israeli private customers and the system operator, Noga, although Ellomay agreed in March 2026 to sell all its Dorad holdings. OPC’s electricity sales to Israeli private customers are the relevant business to watch for competition with Dorad’s commercial-customer contracts.
Brookfield Renewable Partners L.P. and Ellomay both develop and own European renewable-power assets, so electricity-sale terms and project funding conditions matter to both companies’ returns. Brookfield’s cash flows from these assets and funding for new developments offer a comparison for Ellomay’s expanding Italian solar portfolio.
Brookfield Renewable Corporation and Ellomay both own European renewable generation, with returns tied to electricity contracts and the financing of costly power assets. Brookfield sells hydro, wind and solar power to buyers under contracts; its contracted cash flows and long-term financing terms provide a comparison for Ellomay’s solar electricity sales and project funding.
Enlight Renewable Energy Ltd. earningsENLT
Enlight Renewable Energy Ltd.'s report will show its progress securing long-term buyers for solar power, revealing whether it is competing for the buyers and electricity-sale contracts Ellomay Capital also needs.
Look for new long-term power-sale commitments and whether the related projects are advancing. More buyer commitments alongside project progress would show Enlight securing long-term buyers for its electricity, making competition for the buyers Ellomay Capital seeks in Italy more direct. Limited contract progress or delays would make that competitive pressure less evident, but would not prove Ellomay has the advantage.
Brookfield Renewable Corporation earningsBEPC
Brookfield Renewable Corporation's report will show the power-sale cash flows and long-term financing of its European renewable assets, offering a comparison for Ellomay Capital's solar sales and project funding.
Read Brookfield Renewable Corporation's contracted power cash flows alongside its long-term financing terms. Stable contract cash flows with financing that supports the projects would show that this kind of capital-intensive power asset can carry development and debt costs. Weaker cash flows or heavier financing burdens would point to more pressure on project returns and funding—constraints also relevant to Ellomay Capital's expanding Italian solar portfolio, but not a result for Ellomay itself.
KENON HOLDINGS LTD. earningsKEN
KENON HOLDINGS LTD.'s report will show how its OPC business sells electricity to Israeli private customers, a market Dorad also serves; Ellomay Capital has agreed to sell all its Dorad holdings, so this is market context, not a measure of Ellomay's future electricity business.
Look at OPC's electricity sales to Israeli private customers and, if reported, how those sales compare with sales to the system operator. More private-customer sales would show OPC serving more of the commercial-customer market where Dorad also sells power. Lower sales would provide less evidence of competitive pressure, but would not tell you whether demand or OPC's position changed. Ellomay Capital has agreed to sell all its Dorad holdings, so this comparison describes competition in Dorad's market, not Ellomay's future electricity business.
