07:15 AM EDT, 09/09/2024 (MT Newswires) -- Ellomay Capital ( ELLO ) said Monday its Ellomay Holdings Luxembourg subsidiary secured financing for its portfolio of 198-megawatt solar projects in Italy by entering a commitment letter and term sheet with a European institutional investor for up to 110 million euros ($121.4 million).

The lender will provide Ellomay Luxembourg a non-recourse merchant loan through senior secured notes which can be drawn in multiple installments, with final repayment 23 years after closing, the company said.