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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OfficeEquipmentMember_lbl" xml:lang="en-US">Office furniture and equipment [Member]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseholdImprovementsMember" xlink:to="ifrs-full_LeaseholdImprovementsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LeaseholdImprovementsMember_lbl" xml:lang="en-US">Leasehold Improvements [member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xml:lang="en-US">Depreciation [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CarryingAmountsMember" xlink:label="ello_CarryingAmountsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CarryingAmountsMember" xlink:to="ello_CarryingAmountsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CarryingAmountsMember_lbl" xml:lang="en-US">Carrying Amounts [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IncomeReceivableInConnectionWithTheErezElectricityPSPMember" xlink:label="ello_IncomeReceivableInConnectionWithTheErezElectricityPSPMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncomeReceivableInConnectionWithTheErezElectricityPSPMember" xlink:to="ello_IncomeReceivableInConnectionWithTheErezElectricityPSPMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IncomeReceivableInConnectionWithTheErezElectricityPSPMember_lbl" xml:lang="en-US">Income receivable in connection with the Erez Electricity PSP [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xml:lang="en-US">Levels of fair value hierarchy [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 3 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level1OfFairValueHierarchyMember" xlink:to="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 1 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level2OfFairValueHierarchyMember" xlink:to="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 2 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_USD" xlink:label="currency_USD" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_USD" xlink:to="currency_USD_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="currency_USD_lbl" xml:lang="en-US">USD [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DoradEnergyLtdMember" xlink:label="ello_DoradEnergyLtdMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradEnergyLtdMember" xlink:to="ello_DoradEnergyLtdMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DoradEnergyLtdMember_lbl" xml:lang="en-US">Dorad Energy Ltd [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_HedgingReserveMember" xlink:label="ello_HedgingReserveMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_HedgingReserveMember" xlink:to="ello_HedgingReserveMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_HedgingReserveMember_lbl" xml:lang="en-US">Hedging Reserve [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_IL" xlink:label="country_IL" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_IL" xlink:to="country_IL_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_IL_lbl" xml:lang="en-US">Israel [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DoardMember" xlink:label="ello_DoardMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoardMember" xlink:to="ello_DoardMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DoardMember_lbl" xml:lang="en-US">Dorad [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_BioGasMember" xlink:label="ello_BioGasMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BioGasMember" xlink:to="ello_BioGasMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_BioGasMember_lbl" xml:lang="en-US">Bio Gas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ManaraMember" xlink:label="ello_ManaraMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ManaraMember" xlink:to="ello_ManaraMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ManaraMember_lbl" xml:lang="en-US">Manara [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OperatingSegmentsMember" xlink:label="ifrs-full_OperatingSegmentsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingSegmentsMember" xlink:to="ifrs-full_OperatingSegmentsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OperatingSegmentsMember_lbl" xml:lang="en-US">Total reportable segments [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ReconciliationsMember" xlink:label="ello_ReconciliationsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReconciliationsMember" xlink:to="ello_ReconciliationsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ReconciliationsMember_lbl" xml:lang="en-US">Reconciliations [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FairValueMember" xlink:label="ello_FairValueMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FairValueMember" xlink:to="ello_FairValueMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FairValueMember_lbl" xml:lang="en-US">Fair value [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_CarryingAmountMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CarryingAmountMember_lbl" xml:lang="en-US">Carrying amount [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TalasolMember" xlink:label="ello_TalasolMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolMember" xlink:to="ello_TalasolMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TalasolMember_lbl" xml:lang="en-US">Talasol [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TransactionReserveWithNoncontrollingInterestsMember" xlink:label="ello_TransactionReserveWithNoncontrollingInterestsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionReserveWithNoncontrollingInterestsMember" xlink:to="ello_TransactionReserveWithNoncontrollingInterestsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TransactionReserveWithNoncontrollingInterestsMember_lbl" xml:lang="en-US">Transaction reserve with non-controlling Interests</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_WACHOVIAMember" xlink:label="ello_WACHOVIAMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_WACHOVIAMember" xlink:to="ello_WACHOVIAMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_WACHOVIAMember_lbl" xml:lang="en-US">WACHOVIA [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xml:lang="en-US">Non-adjusting events after reporting period [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TalasolProjectMember" xlink:label="ello_TalasolProjectMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolProjectMember" xlink:to="ello_TalasolProjectMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TalasolProjectMember_lbl" xml:lang="en-US">Talasol Project [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsByNameAxis_lbl" xml:lang="en-US">Borrowings by name [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TermFacilityMember" xlink:label="ello_TermFacilityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TermFacilityMember" xlink:to="ello_TermFacilityMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TermFacilityMember_lbl" xml:lang="en-US">Term facility [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RevolvingDebtServiceReserveFacilityMember" xlink:label="ello_RevolvingDebtServiceReserveFacilityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RevolvingDebtServiceReserveFacilityMember" xlink:to="ello_RevolvingDebtServiceReserveFacilityMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RevolvingDebtServiceReserveFacilityMember_lbl" xml:lang="en-US">Revolving debt service reserve facility [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_VATFacilityMember" xlink:label="ello_VATFacilityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_VATFacilityMember" xlink:to="ello_VATFacilityMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_VATFacilityMember_lbl" xml:lang="en-US">VAT facility [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LetterOfCreditFacilityMember" xlink:label="ello_LetterOfCreditFacilityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LetterOfCreditFacilityMember" xlink:to="ello_LetterOfCreditFacilityMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LetterOfCreditFacilityMember_lbl" xml:lang="en-US">Letter of credit facility [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TermFacilityFromEIBMember" xlink:label="ello_TermFacilityFromEIBMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TermFacilityFromEIBMember" xlink:to="ello_TermFacilityFromEIBMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TermFacilityFromEIBMember_lbl" xml:lang="en-US">Term facility from EIB [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RevolvingDebtServiceReserveFacilityFromEIBMember" xlink:label="ello_RevolvingDebtServiceReserveFacilityFromEIBMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RevolvingDebtServiceReserveFacilityFromEIBMember" xlink:to="ello_RevolvingDebtServiceReserveFacilityFromEIBMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RevolvingDebtServiceReserveFacilityFromEIBMember_lbl" xml:lang="en-US">Revolving debt service reserve facility from EIB [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SharesInTalasolMember" xlink:label="ello_SharesInTalasolMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SharesInTalasolMember" xlink:to="ello_SharesInTalasolMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SharesInTalasolMember_lbl" xml:lang="en-US">Shares in Talasol [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TalasolSolarSLUMember" xlink:label="ello_TalasolSolarSLUMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolSolarSLUMember" xlink:to="ello_TalasolSolarSLUMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TalasolSolarSLUMember_lbl" xml:lang="en-US">Talasol Solar S.L.U [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_EllomayPumpedStorage2014LtdMember" xlink:label="ello_EllomayPumpedStorage2014LtdMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayPumpedStorage2014LtdMember" xlink:to="ello_EllomayPumpedStorage2014LtdMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EllomayPumpedStorage2014LtdMember_lbl" xml:lang="en-US">Ellomay Pumped Storage (2014) Ltd. [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_HeldByTrusteeMember" xlink:label="ello_HeldByTrusteeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_HeldByTrusteeMember" xlink:to="ello_HeldByTrusteeMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_HeldByTrusteeMember_lbl" xml:lang="en-US">Held By Trustee [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrencySwapContractMember" xlink:label="ifrs-full_CurrencySwapContractMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrencySwapContractMember" xlink:to="ifrs-full_CurrencySwapContractMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrencySwapContractMember_lbl" xml:lang="en-US">Currency swap [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DoriLoanMember" xlink:label="ello_DoriLoanMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriLoanMember" xlink:to="ello_DoriLoanMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DoriLoanMember_lbl" xml:lang="en-US">Dori Energy loan [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FinancialPowerSwapMember" xlink:label="ello_FinancialPowerSwapMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialPowerSwapMember" xlink:to="ello_FinancialPowerSwapMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinancialPowerSwapMember_lbl" xml:lang="en-US">Financial power swap [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IncomeReceivableInConnectionWithTheARZElectricityPSPMember" xlink:label="ello_IncomeReceivableInConnectionWithTheARZElectricityPSPMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncomeReceivableInConnectionWithTheARZElectricityPSPMember" xlink:to="ello_IncomeReceivableInConnectionWithTheARZElectricityPSPMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IncomeReceivableInConnectionWithTheARZElectricityPSPMember_lbl" xml:lang="en-US">Income receivable in connection with the A.R.Z Electricity PSP [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SecondInstallmentMember" xlink:label="ello_SecondInstallmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SecondInstallmentMember" xlink:to="ello_SecondInstallmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SecondInstallmentMember_lbl" xml:lang="en-US">Second Installment [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SeriesaDebenturesMember" xlink:label="ello_SeriesaDebenturesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesaDebenturesMember" xlink:to="ello_SeriesaDebenturesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SeriesaDebenturesMember_lbl" xml:lang="en-US">Series A Debentures [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrencySwap1Member" xlink:label="ello_CurrencySwap1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencySwap1Member" xlink:to="ello_CurrencySwap1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_CurrencySwap1Member_lbl" xml:lang="en-US">Currency swap [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DoriEnergyLoanMember" xlink:label="ello_DoriEnergyLoanMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriEnergyLoanMember" xlink:to="ello_DoriEnergyLoanMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DoriEnergyLoanMember_lbl" xml:lang="en-US">Dori Energy Loan [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossCarryingAmountMember" xlink:to="ifrs-full_GrossCarryingAmountMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_GrossCarryingAmountMember_2_lbl" xml:lang="en-US">Gross carrying amount [member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IsraeliClassifiedinvestorsViaPrivatePlacementMember" xlink:label="ello_IsraeliClassifiedinvestorsViaPrivatePlacementMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IsraeliClassifiedinvestorsViaPrivatePlacementMember" xlink:to="ello_IsraeliClassifiedinvestorsViaPrivatePlacementMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IsraeliClassifiedinvestorsViaPrivatePlacementMember_lbl" xml:lang="en-US">Israeli classified investors via private placement [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IsraeliElectricityAuthorityMember" xlink:label="ello_IsraeliElectricityAuthorityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IsraeliElectricityAuthorityMember" xlink:to="ello_IsraeliElectricityAuthorityMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IsraeliElectricityAuthorityMember_lbl" xml:lang="en-US">Israeli Electricity Authority [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DocumentAndEntityInformationAbstract" xlink:label="ello_DocumentAndEntityInformationAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DocumentAndEntityInformationAbstract" xlink:to="ello_DocumentAndEntityInformationAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DocumentAndEntityInformationAbstract_lbl" xml:lang="en-US">Document And Entity Information</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IfrsStatementTable" xlink:label="ello_IfrsStatementTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IfrsStatementTable" xlink:to="ello_IfrsStatementTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IfrsStatementTable_lbl" xml:lang="en-US">Statement Table [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IfrsStatementLineItems" xlink:label="ello_IfrsStatementLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IfrsStatementLineItems" xlink:to="ello_IfrsStatementLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IfrsStatementLineItems_lbl" xml:lang="en-US">Statement Line Items [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CurrencyAxis" xlink:to="srt_CurrencyAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="srt_CurrencyAxis_2_lbl" xml:lang="en-US">Currency [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AssetsAbstract" xlink:label="ifrs-full_AssetsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAbstract_lbl" xml:lang="en-US">Assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentAssetsAbstract" xlink:label="ifrs-full_CurrentAssetsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsAbstract" xlink:to="ifrs-full_CurrentAssetsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAssetsAbstract_lbl" xml:lang="en-US">Current assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US">Cash and cash equivalents</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentHeldtomaturityInvestments" xlink:label="ifrs-full_CurrentHeldtomaturityInvestments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentHeldtomaturityInvestments" xlink:to="ifrs-full_CurrentHeldtomaturityInvestments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentHeldtomaturityInvestments_lbl" xml:lang="en-US">Marketable securities</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ShorttermDeposits" xlink:label="ello_ShorttermDeposits" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShorttermDeposits" xlink:to="ello_ShorttermDeposits_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ShorttermDeposits_lbl" xml:lang="en-US">Short term deposits</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentRestrictedCashAndCashEquivalents" xlink:label="ifrs-full_CurrentRestrictedCashAndCashEquivalents" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentRestrictedCashAndCashEquivalents" xlink:to="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl" xml:lang="en-US">Restricted cash</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ReceivableFromConcessionProject" xlink:label="ello_ReceivableFromConcessionProject" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReceivableFromConcessionProject" xlink:to="ello_ReceivableFromConcessionProject_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ReceivableFromConcessionProject_lbl" xml:lang="en-US">Receivable from concession project</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherCurrentFinancialAssets" xlink:label="ifrs-full_OtherCurrentFinancialAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentFinancialAssets" xlink:to="ifrs-full_OtherCurrentFinancialAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentFinancialAssets_lbl" xml:lang="en-US">Financial assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TradeAndOtherCurrentReceivables" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xml:lang="en-US">Trade and other receivables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentAssets_lbl" xml:lang="en-US">Total Current assests</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentAssetsAbstract" xlink:label="ifrs-full_NoncurrentAssetsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsAbstract" xlink:to="ifrs-full_NoncurrentAssetsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl" xml:lang="en-US">Non-current assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl" xml:lang="en-US">Investment in equity accounted investee</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AdvancesOnAccountOfInvestments" xlink:label="ello_AdvancesOnAccountOfInvestments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdvancesOnAccountOfInvestments" xlink:to="ello_AdvancesOnAccountOfInvestments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AdvancesOnAccountOfInvestments_lbl" xml:lang="en-US">Advances on account of investments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentReceivablesFromContractsWithCustomers" xlink:label="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers" xlink:to="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers_lbl" xml:lang="en-US">Receivable from concession project</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en-US">Fixed assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RightofuseAssets" xlink:label="ifrs-full_RightofuseAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssets" xlink:to="ifrs-full_RightofuseAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RightofuseAssets_lbl" xml:lang="en-US">Right-of-use asset</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US">Intangible asset</link:label>
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xml:lang="en-US">Deferred tax</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentTradeReceivables" xlink:label="ifrs-full_NoncurrentTradeReceivables" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentTradeReceivables_lbl" xml:lang="en-US">Long term receivables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets_lbl" xml:lang="en-US">Derivatives</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentAssets_lbl" xml:lang="en-US">Total Non-current assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US">Total assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAndLiabilitiesAbstract" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xml:lang="en-US">Liabilities and Equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentLiabilitiesAbstract" xlink:label="ifrs-full_CurrentLiabilitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilitiesAbstract" xlink:to="ifrs-full_CurrentLiabilitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl" xml:lang="en-US">Current liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrentPortionOfLongtermBankBorrowings" xlink:label="ello_CurrentPortionOfLongtermBankBorrowings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentPortionOfLongtermBankBorrowings" xlink:to="ello_CurrentPortionOfLongtermBankBorrowings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentPortionOfLongtermBankBorrowings_lbl" xml:lang="en-US">Current maturities of long term bank loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:to="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl" xml:lang="en-US">Current maturities of long term loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:label="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl" xml:lang="en-US">Debentures</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl" xml:lang="en-US">Trade payables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherCurrentPayables" xlink:label="ifrs-full_OtherCurrentPayables" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentPayables" xlink:to="ifrs-full_OtherCurrentPayables_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentPayables_lbl" xml:lang="en-US">Other payables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentLiabilities_lbl" xml:lang="en-US">Total current liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentLiabilitiesAbstract" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:to="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xml:lang="en-US">Non-current liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentLeaseLiabilities" xlink:label="ifrs-full_NoncurrentLeaseLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLeaseLiabilities" xlink:to="ifrs-full_NoncurrentLeaseLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl" xml:lang="en-US">Lease liability</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LiabilitiesDueToCentralBanks" xlink:label="ifrs-full_LiabilitiesDueToCentralBanks" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesDueToCentralBanks" xlink:to="ifrs-full_LiabilitiesDueToCentralBanks_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesDueToCentralBanks_lbl" xml:lang="en-US">Liabilities to banks</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LongtermBorrowings" xlink:to="ifrs-full_LongtermBorrowings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LongtermBorrowings_lbl" xml:lang="en-US">Other long-term loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl" xml:lang="en-US">Debentures</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en-US">Deferred tax</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:to="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl" xml:lang="en-US">Other long-term liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities_lbl" xml:lang="en-US">Derivatives</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentLiabilities_lbl" xml:lang="en-US">Total Non-current liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en-US">Total liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAbstract" xlink:label="ifrs-full_EquityAbstract" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAbstract_lbl" xml:lang="en-US">Equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="ifrs-full_IssuedCapital" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssuedCapital_lbl" xml:lang="en-US">Share capital</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_SharePremium" xlink:label="ifrs-full_SharePremium" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SharePremium_lbl" xml:lang="en-US">Share premium</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TreasuryShares" xlink:label="ifrs-full_TreasuryShares" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_TreasuryShares_lbl" xml:lang="en-US">Treasury shares</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TransactionReserveWithNoncontrollingInterests" xlink:label="ello_TransactionReserveWithNoncontrollingInterests" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_TransactionReserveWithNoncontrollingInterests_lbl" xml:lang="en-US">Transaction reserve with non-controlling Interests</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherReserves" xlink:label="ifrs-full_OtherReserves" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherReserves_lbl" xml:lang="en-US">Reserves</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RetainedEarnings" xlink:label="ifrs-full_RetainedEarnings" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarnings_lbl" xml:lang="en-US">Retained earnings</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xml:lang="en-US">Total equity attributed to shareholders of the Company</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xml:lang="en-US">Non-Controlling Interest</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US">Total equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xml:lang="en-US">Total liabilities and equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Revenue_lbl" xml:lang="en-US">Revenues</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OperatingExpense" xlink:label="ifrs-full_OperatingExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_OperatingExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_OperatingExpense_lbl" xml:lang="en-US">Operating expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="ifrs-full_DepreciationAndAmortisationExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xml:lang="en-US">Depreciation and amortization expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_GrossProfit_lbl" xml:lang="en-US">Gross profit</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ProjectDevelopmentCosts" xlink:label="ello_ProjectDevelopmentCosts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProjectDevelopmentCosts" xlink:to="ello_ProjectDevelopmentCosts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_ProjectDevelopmentCosts_lbl" xml:lang="en-US">Project development costs</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">General and administrative expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl" xml:lang="en-US">Share of profits of equity accounted investee</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherOperatingIncomeExpense" xlink:label="ifrs-full_OtherOperatingIncomeExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherOperatingIncomeExpense" xlink:to="ifrs-full_OtherOperatingIncomeExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl" xml:lang="en-US">Other income (expenses), net</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CapitalGain" xlink:label="ello_CapitalGain" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CapitalGain" xlink:to="ello_CapitalGain_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CapitalGain_lbl" xml:lang="en-US">Capital gain</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ifrs-full_ProfitLossFromOperatingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_ProfitLossFromOperatingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_lbl" xml:lang="en-US">Operating profit (loss)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinanceIncome" xlink:label="ifrs-full_FinanceIncome" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncome" xlink:to="ifrs-full_FinanceIncome_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceIncome_lbl" xml:lang="en-US">Financing income</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FinancingIncomeExpensesInConnectionWithDerivativesNet" xlink:label="ello_FinancingIncomeExpensesInConnectionWithDerivativesNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancingIncomeExpensesInConnectionWithDerivativesNet" xlink:to="ello_FinancingIncomeExpensesInConnectionWithDerivativesNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinancingIncomeExpensesInConnectionWithDerivativesNet_lbl" xml:lang="en-US">Financing income in connection with derivatives and warrants, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinanceCosts" xlink:label="ifrs-full_FinanceCosts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_FinanceCosts_lbl" xml:lang="en-US">Financing expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FinanceIncomeExpenseNet" xlink:label="ello_FinanceIncomeExpenseNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceIncomeExpenseNet" xlink:to="ello_FinanceIncomeExpenseNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ello_FinanceIncomeExpenseNet_lbl" xml:lang="en-US">Financing expenses, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US">Profit (loss) before taxes on income</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xml:lang="en-US">Tax benefit (Taxes on income)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US">Profit (loss) for the period</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossAttributableToAbstract" xlink:label="ifrs-full_ProfitLossAttributableToAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLossAttributableToAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToAbstract_lbl" xml:lang="en-US">Profit (loss) attributable to:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" xlink:to="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl" xml:lang="en-US">Owners of the Company</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLoss_2_lbl" xml:lang="en-US">Profit (loss) for the period</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xml:lang="en-US">Other comprehensive income (loss) items that after initial recognition in comprehensive income (loss) were or will be transferred to profit or loss:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl" xml:lang="en-US">Foreign currency translation differences for foreign Operations</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments_lbl" xml:lang="en-US">Effective portion of change in fair value of cash flow hedges</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss" xlink:label="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss" xlink:to="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss_lbl" xml:lang="en-US">Net change in fair value of cash flow hedges transferred to profit or loss</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xml:lang="en-US">Total other comprehensive income (loss)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract" xlink:label="ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract" xlink:to="ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MiscellaneousOtherComprehensiveIncomeAbstract_lbl" xml:lang="en-US">Total other comprehensive income (loss) attributable to:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent_lbl" xml:lang="en-US">Owners of the Company</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xml:lang="en-US">Total comprehensive income (loss) for the period</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xml:lang="en-US">Total comprehensive income (loss) for the period attributable to:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xml:lang="en-US">Owners of the Company</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BasicEarningsLossPerShare" xlink:label="ifrs-full_BasicEarningsLossPerShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en-US">Basic earnings (loss) per share</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DilutedEarningsLossPerShare" xlink:label="ifrs-full_DilutedEarningsLossPerShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShare" xlink:to="ifrs-full_DilutedEarningsLossPerShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DilutedEarningsLossPerShare_lbl" xml:lang="en-US">Diluted earnings (loss) per share</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:label="ifrs-full_StatementOfChangesInEquityTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityTable" xlink:to="ifrs-full_StatementOfChangesInEquityTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xml:lang="en-US">Statement of changes in equity [table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xml:lang="en-US">Statement of changes in equity [line items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_Equity_2_lbl" xml:lang="en-US">Balance</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncome_2_lbl" xml:lang="en-US">Other comprehensive loss for the period</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncome_2_lbl" xml:lang="en-US">Total comprehensive loss for the period</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ChangesInEquityAbstract" xlink:label="ifrs-full_ChangesInEquityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ChangesInEquityAbstract" xlink:to="ifrs-full_ChangesInEquityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ChangesInEquityAbstract_lbl" xml:lang="en-US">Transactions with owners of the Company, recognized directly in equity:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary" xlink:label="ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary" xlink:to="ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary_lbl" xml:lang="en-US">Sale of shares in subsidiaries to non-controlling interests</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:to="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl" xml:lang="en-US">Purchase of shares in subsidiaries from non-controlling interests</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IssueOfEquity" xlink:label="ifrs-full_IssueOfEquity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssueOfEquity" xlink:to="ifrs-full_IssueOfEquity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssueOfEquity_lbl" xml:lang="en-US">Issuance of ordinary shares</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromExerciseOfOptions" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromExerciseOfOptions" xlink:to="ifrs-full_ProceedsFromExerciseOfOptions_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions_lbl" xml:lang="en-US">Options exercise</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xml:lang="en-US">Share-based payments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfTreasuryShares" xlink:label="ifrs-full_PurchaseOfTreasuryShares" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfTreasuryShares" xlink:to="ifrs-full_PurchaseOfTreasuryShares_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PurchaseOfTreasuryShares_lbl" xml:lang="en-US">Own shares acquired</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IncreaseDecreaseThroughExerciseOfOptionsAndWarrants" xlink:label="ello_IncreaseDecreaseThroughExerciseOfOptionsAndWarrants" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseDecreaseThroughExerciseOfOptionsAndWarrants" xlink:to="ello_IncreaseDecreaseThroughExerciseOfOptionsAndWarrants_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IncreaseDecreaseThroughExerciseOfOptionsAndWarrants_lbl" xml:lang="en-US">Exercise of share options and warrants</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent_lbl" xml:lang="en-US">Dividends to owners</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Equity_3_lbl" xml:lang="en-US">Balance</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from operating activities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLoss_3_lbl" xml:lang="en-US">Income (loss) for the period</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xml:lang="en-US">Adjustments for:</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceIncomeExpenseNet" xlink:to="ello_FinanceIncomeExpenseNet_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_FinanceIncomeExpenseNet_2_lbl" xml:lang="en-US">Financing expenses, net</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CapitalGain" xlink:to="ello_CapitalGain_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_CapitalGain_2_lbl" xml:lang="en-US">Capital gain</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DepreciationExpense" xlink:label="ifrs-full_DepreciationExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationExpense" xlink:to="ifrs-full_DepreciationExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationExpense_lbl" xml:lang="en-US">Depreciation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xml:lang="en-US">Share-based payment transactions</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_2_lbl" xml:lang="en-US">Share of profits of equity accounted investees</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee" xlink:label="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee" xlink:to="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee_lbl" xml:lang="en-US">Payment of interest on loan by an equity accounted investee</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl" xml:lang="en-US">Change in trade receivables and other receivables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets_lbl" xml:lang="en-US">Change in other assets</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject" xlink:label="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject" xlink:to="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject_lbl" xml:lang="en-US">Change in receivables from concessions project</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities_lbl" xml:lang="en-US">Change in accrued severance pay, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl" xml:lang="en-US">Change in trade payables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherOperatingPayables_lbl" xml:lang="en-US">Change in other payables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:to="ifrs-full_AdjustmentsForIncomeTaxExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense_lbl" xml:lang="en-US">Income tax expense (tax benefit)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities" xlink:label="ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities" xlink:to="ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Income taxes paid</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestReceivedClassifiedAsOperatingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Interest received</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Interest paid</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by (used in) operating activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Acquisition of fixed assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Acquisition of subsidiary, net of cash acquired</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromSalesOfInterestsInAssociates" xlink:label="ifrs-full_ProceedsFromSalesOfInterestsInAssociates" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromSalesOfInterestsInAssociates" xlink:to="ifrs-full_ProceedsFromSalesOfInterestsInAssociates_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromSalesOfInterestsInAssociates_lbl" xml:lang="en-US">Proceeds from sale of investments</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ProceedFromCompensationAsPerAgreement" xlink:label="ello_ProceedFromCompensationAsPerAgreement" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedFromCompensationAsPerAgreement" xlink:to="ello_ProceedFromCompensationAsPerAgreement_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProceedFromCompensationAsPerAgreement_lbl" xml:lang="en-US">Compensation as per agreement with Erez Electricity Ltd.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RepaymentOfLoanFromEquityAccountedInvestee" xlink:label="ello_RepaymentOfLoanFromEquityAccountedInvestee" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfLoanFromEquityAccountedInvestee" xlink:to="ello_RepaymentOfLoanFromEquityAccountedInvestee_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RepaymentOfLoanFromEquityAccountedInvestee_lbl" xml:lang="en-US">Repayment of loan by an equity accounted investee</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ProceedsFromSettlementOfDerivativesNet" xlink:label="ello_ProceedsFromSettlementOfDerivativesNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromSettlementOfDerivativesNet" xlink:to="ello_ProceedsFromSettlementOfDerivativesNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProceedsFromSettlementOfDerivativesNet_lbl" xml:lang="en-US">Proceeds from settlement of derivatives, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents_lbl" xml:lang="en-US">Proceeds (investment) in restricted cash, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl" xml:lang="en-US">Investment in short term deposit</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RepaymentGrantOfLoanToOthers" xlink:label="ello_RepaymentGrantOfLoanToOthers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentGrantOfLoanToOthers" xlink:to="ello_RepaymentGrantOfLoanToOthers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RepaymentGrantOfLoanToOthers_lbl" xml:lang="en-US">Repayment of loan to others</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash used in investing activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RepaymentsOfNoncurrentBorrowings" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfNoncurrentBorrowings" xlink:to="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl" xml:lang="en-US">Repayment of long-term loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:to="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl" xml:lang="en-US">Repayment of Debentures</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CostAssociatedWithLongTermLoans" xlink:label="ello_CostAssociatedWithLongTermLoans" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CostAssociatedWithLongTermLoans" xlink:to="ello_CostAssociatedWithLongTermLoans_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_CostAssociatedWithLongTermLoans_lbl" xml:lang="en-US">Cost associated with long term loans</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromExerciseOfOptions" xlink:to="ifrs-full_ProceedsFromExerciseOfOptions_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions_2_lbl" xml:lang="en-US">Proceeds from options</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SaleOfSharesInSubsidiariesToNoncontrollingInterests" xlink:label="ello_SaleOfSharesInSubsidiariesToNoncontrollingInterests" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SaleOfSharesInSubsidiariesToNoncontrollingInterests" xlink:to="ello_SaleOfSharesInSubsidiariesToNoncontrollingInterests_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_SaleOfSharesInSubsidiariesToNoncontrollingInterests_lbl" xml:lang="en-US">Sale of shares in subsidiaries to non-controlling interests</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PaymentsFromChangesInOwnershipInterestsInSubsidiaries" xlink:label="ifrs-full_PaymentsFromChangesInOwnershipInterestsInSubsidiaries" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsFromChangesInOwnershipInterestsInSubsidiaries" xlink:to="ifrs-full_PaymentsFromChangesInOwnershipInterestsInSubsidiaries_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PaymentsFromChangesInOwnershipInterestsInSubsidiaries_lbl" xml:lang="en-US">Acquisition of shares in subsidiaries from non-controlling interests</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ProceedFromIssueOfWarrants" xlink:label="ello_ProceedFromIssueOfWarrants" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedFromIssueOfWarrants" xlink:to="ello_ProceedFromIssueOfWarrants_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProceedFromIssueOfWarrants_lbl" xml:lang="en-US">Issuance of warrants</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ifrs-full_ProceedsFromIssuingShares" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssuingShares" xlink:to="ifrs-full_ProceedsFromIssuingShares_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProceedsFromIssuingShares_lbl" xml:lang="en-US">Issuance of ordinary shares</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromNoncurrentBorrowings" xlink:label="ifrs-full_ProceedsFromNoncurrentBorrowings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromNoncurrentBorrowings" xlink:to="ifrs-full_ProceedsFromNoncurrentBorrowings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromNoncurrentBorrowings_lbl" xml:lang="en-US">Proceeds from long term loans, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl" xml:lang="en-US">Proceeds from issuance of Debentures, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash from financing activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of exchange rate fluctuations on cash and cash equivalents</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LongtermRestrictedNoninterestBearingBankDeposits_lbl" xml:lang="en-US">Long-term restricted non-interest bearing bank deposits</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentRestrictedCashAndCashEquivalents_2_lbl" xml:lang="en-US">Long-term restricted cash and deposits</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsAbstract" xlink:to="ifrs-full_CurrentAssetsAbstract_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentAssetsAbstract_2_lbl" xml:lang="en-US">Current Assets:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TradeAndOtherCurrentReceivablesAbstract" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivablesAbstract" xlink:to="ifrs-full_TradeAndOtherCurrentReceivablesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesAbstract_lbl" xml:lang="en-US">Trade and other receivables:</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_GovernmentAuthorities" xlink:label="ello_GovernmentAuthorities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GovernmentAuthorities" xlink:to="ello_GovernmentAuthorities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_GovernmentAuthorities_lbl" xml:lang="en-US">Government authorities</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrentIncomeReceivable" xlink:label="ello_CurrentIncomeReceivable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentIncomeReceivable" xlink:to="ello_CurrentIncomeReceivable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentIncomeReceivable_lbl" xml:lang="en-US">Income receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentInterestReceivable" xlink:label="ifrs-full_CurrentInterestReceivable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentInterestReceivable" xlink:to="ifrs-full_CurrentInterestReceivable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentInterestReceivable_lbl" xml:lang="en-US">Interest receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="ifrs-full_CurrentTaxAssetsCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxAssetsCurrent" xlink:to="ifrs-full_CurrentTaxAssetsCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxAssetsCurrent_lbl" xml:lang="en-US">Current tax</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrentMaturitiesOfLoanToEquityAccountedInvestee" xlink:label="ello_CurrentMaturitiesOfLoanToEquityAccountedInvestee" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentMaturitiesOfLoanToEquityAccountedInvestee" xlink:to="ello_CurrentMaturitiesOfLoanToEquityAccountedInvestee_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentMaturitiesOfLoanToEquityAccountedInvestee_lbl" xml:lang="en-US">Current maturities of loan to an equity accounted investee</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ifrs-full_CurrentTradeReceivables_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTradeReceivables_lbl" xml:lang="en-US">Trade receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrentForwardContractsAssets" xlink:label="ello_CurrentForwardContractsAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentForwardContractsAssets" xlink:to="ello_CurrentForwardContractsAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrentForwardContractsAssets_lbl" xml:lang="en-US">Forward contracts</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Inventories" xlink:to="ifrs-full_Inventories_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Inventories_lbl" xml:lang="en-US">Inventory</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentDerivativeFinancialAssets" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialAssets" xlink:to="ifrs-full_CurrentDerivativeFinancialAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets_lbl" xml:lang="en-US">Derivatives</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentPrepaidExpenses" xlink:label="ifrs-full_CurrentPrepaidExpenses" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaidExpenses" xlink:to="ifrs-full_CurrentPrepaidExpenses_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xml:lang="en-US">Prepaid expenses and other</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_2_lbl" xml:lang="en-US">Total Current Assets and other receivables</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsAbstract" xlink:to="ifrs-full_NoncurrentAssetsAbstract_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentAssetsAbstract_2_lbl" xml:lang="en-US">Non current Assets:</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LongTermReceivablesAbstract" xlink:label="ello_LongTermReceivablesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongTermReceivablesAbstract" xlink:to="ello_LongTermReceivablesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_LongTermReceivablesAbstract_lbl" xml:lang="en-US">Long term receivables</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AdvanceTaxPayment" xlink:label="ello_AdvanceTaxPayment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdvanceTaxPayment" xlink:to="ello_AdvanceTaxPayment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AdvanceTaxPayment_lbl" xml:lang="en-US">Advance tax payment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialAssets" xlink:label="ifrs-full_FinancialAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssets" xlink:to="ifrs-full_FinancialAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en-US">Financial asset</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PrepaidExpensesAssociatedWithLongTermLoans" xlink:label="ello_PrepaidExpensesAssociatedWithLongTermLoans" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrepaidExpensesAssociatedWithLongTermLoans" xlink:to="ello_PrepaidExpensesAssociatedWithLongTermLoans_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PrepaidExpensesAssociatedWithLongTermLoans_lbl" xml:lang="en-US">Prepaid expenses associated with long term loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentReceivablesFromRentalOfProperties" xlink:label="ifrs-full_NoncurrentReceivablesFromRentalOfProperties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivablesFromRentalOfProperties" xlink:to="ifrs-full_NoncurrentReceivablesFromRentalOfProperties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentReceivablesFromRentalOfProperties_lbl" xml:lang="en-US">Annual rent deposits</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherNoncurrentReceivables" xlink:label="ifrs-full_OtherNoncurrentReceivables" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentReceivables" xlink:to="ifrs-full_OtherNoncurrentReceivables_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNoncurrentReceivables_lbl" xml:lang="en-US">Other</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentReceivables" xlink:label="ifrs-full_NoncurrentReceivables" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivables" xlink:to="ifrs-full_NoncurrentReceivables_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentReceivables_lbl" xml:lang="en-US">Total Non current Assets and Long term receivables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangeAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RangeAxis_lbl" xml:lang="en-US">Range [axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PercentageOfShareCapitalHolds" xlink:label="ello_PercentageOfShareCapitalHolds" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfShareCapitalHolds" xlink:to="ello_PercentageOfShareCapitalHolds_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfShareCapitalHolds_lbl" xml:lang="en-US">Percentage of share capital holds</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LicenseExpired" xlink:label="ello_LicenseExpired" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LicenseExpired" xlink:to="ello_LicenseExpired_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LicenseExpired_lbl" xml:lang="en-US">License expiration date</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InvestmentsInSubsidiaries" xlink:label="ifrs-full_InvestmentsInSubsidiaries" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsInSubsidiaries" xlink:to="ifrs-full_InvestmentsInSubsidiaries_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentsInSubsidiaries_lbl" xml:lang="en-US">Investment in subsidiaries</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="ifrs-full_BorrowingsInterestRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRate" xlink:to="ifrs-full_BorrowingsInterestRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BorrowingsInterestRate_lbl" xml:lang="en-US">Annual interest rate</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AmountFinancialAgreementGuaranteesByDirectShare" xlink:label="ello_AmountFinancialAgreementGuaranteesByDirectShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountFinancialAgreementGuaranteesByDirectShare" xlink:to="ello_AmountFinancialAgreementGuaranteesByDirectShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountFinancialAgreementGuaranteesByDirectShare_lbl" xml:lang="en-US">Amount financial agreement guarantees by direct share</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AmountFinancialAgreementGuaranteesByIndirectShare" xlink:label="ello_AmountFinancialAgreementGuaranteesByIndirectShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountFinancialAgreementGuaranteesByIndirectShare" xlink:to="ello_AmountFinancialAgreementGuaranteesByIndirectShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountFinancialAgreementGuaranteesByIndirectShare_lbl" xml:lang="en-US">Amount financial agreement guarantees by indirect share</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ClaimsAmountPayment" xlink:label="ello_ClaimsAmountPayment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClaimsAmountPayment" xlink:to="ello_ClaimsAmountPayment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ClaimsAmountPayment_lbl" xml:lang="en-US">Claims amount payment</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ClaimsInterestPaymentAmount" xlink:label="ello_ClaimsInterestPaymentAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClaimsInterestPaymentAmount" xlink:to="ello_ClaimsInterestPaymentAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ClaimsInterestPaymentAmount_lbl" xml:lang="en-US">Claims interest payment amount</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RefundAmountInClaim" xlink:label="ello_RefundAmountInClaim" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RefundAmountInClaim" xlink:to="ello_RefundAmountInClaim_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RefundAmountInClaim_lbl" xml:lang="en-US">Refund amount to Dorad</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PaymentReceivedForManagementAndEntrepreneurshipServices" xlink:label="ello_PaymentReceivedForManagementAndEntrepreneurshipServices" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentReceivedForManagementAndEntrepreneurshipServices" xlink:to="ello_PaymentReceivedForManagementAndEntrepreneurshipServices_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PaymentReceivedForManagementAndEntrepreneurshipServices_lbl" xml:lang="en-US">Payment received for management and entrepreneurship services</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RecoveryOfAmountCommitted" xlink:label="ello_RecoveryOfAmountCommitted" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RecoveryOfAmountCommitted" xlink:to="ello_RecoveryOfAmountCommitted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RecoveryOfAmountCommitted_lbl" xml:lang="en-US">Recovery of amounts committed</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AmountOfLoanWithdrew" xlink:label="ello_AmountOfLoanWithdrew" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfLoanWithdrew" xlink:to="ello_AmountOfLoanWithdrew_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountOfLoanWithdrew_lbl" xml:lang="en-US">Amount of loan withdrew</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LoanInterestPeriod" xlink:label="ello_LoanInterestPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanInterestPeriod" xlink:to="ello_LoanInterestPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoanInterestPeriod_lbl" xml:lang="en-US">Loan interest period</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PercentageOfAggregatePurchasePriceThatRepresentsAmountsWithdrawnAndInterestsAccrued" xlink:label="ello_PercentageOfAggregatePurchasePriceThatRepresentsAmountsWithdrawnAndInterestsAccrued" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfAggregatePurchasePriceThatRepresentsAmountsWithdrawnAndInterestsAccrued" xlink:to="ello_PercentageOfAggregatePurchasePriceThatRepresentsAmountsWithdrawnAndInterestsAccrued_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfAggregatePurchasePriceThatRepresentsAmountsWithdrawnAndInterestsAccrued_lbl" xml:lang="en-US">Percentage of aggregate purchase price that represents amounts withdrawn and interests accrued</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xml:lang="en-US">Project financing amount</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl" xml:lang="en-US">Percentage of payment of shares</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityInterestsOfAcquirer" xlink:label="ifrs-full_EquityInterestsOfAcquirer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityInterestsOfAcquirer" xlink:to="ifrs-full_EquityInterestsOfAcquirer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityInterestsOfAcquirer_lbl" xml:lang="en-US">Payment of shares</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ProjectFinancingAggregateAmount" xlink:label="ello_ProjectFinancingAggregateAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProjectFinancingAggregateAmount" xlink:to="ello_ProjectFinancingAggregateAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProjectFinancingAggregateAmount_lbl" xml:lang="en-US">Project financing aggregate amount</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DeferredAggregatePurchasePrice" xlink:label="ello_DeferredAggregatePurchasePrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DeferredAggregatePurchasePrice" xlink:to="ello_DeferredAggregatePurchasePrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DeferredAggregatePurchasePrice_lbl" xml:lang="en-US">Deferred aggregate purchase price</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_EquityAmountLessAssociatedExpenses" xlink:label="ello_EquityAmountLessAssociatedExpenses" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EquityAmountLessAssociatedExpenses" xlink:to="ello_EquityAmountLessAssociatedExpenses_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_EquityAmountLessAssociatedExpenses_lbl" xml:lang="en-US">Equity amount less associated expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ExpenseByNature" xlink:label="ifrs-full_ExpenseByNature" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseByNature" xlink:to="ifrs-full_ExpenseByNature_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpenseByNature_lbl" xml:lang="en-US">Expenses paid</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:to="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable_lbl" xml:lang="en-US">Disclosure of subsidiaries [table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems_lbl" xml:lang="en-US">Disclosure of subsidiaries [line items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_2_lbl" xml:lang="en-US">Subsidiaries [axis]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_2_lbl" xml:lang="en-US">Classes of property, plant and equipment [axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_Borrowings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Borrowings_lbl" xml:lang="en-US">Amount of loan</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Repayment of loan and accrued interest</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AdditionalCompensationAggregateAmount" xlink:label="ello_AdditionalCompensationAggregateAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdditionalCompensationAggregateAmount" xlink:to="ello_AdditionalCompensationAggregateAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AdditionalCompensationAggregateAmount_lbl" xml:lang="en-US">Additional compensation aggregate amount</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_NumberOfInstallments" xlink:label="ello_NumberOfInstallments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfInstallments" xlink:to="ello_NumberOfInstallments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_NumberOfInstallments_lbl" xml:lang="en-US">Number of installments</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CompensationPaid" xlink:label="ello_CompensationPaid" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompensationPaid" xlink:to="ello_CompensationPaid_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CompensationPaid_lbl" xml:lang="en-US">Compensation paid</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CompensationReceived" xlink:label="ello_CompensationReceived" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompensationReceived" xlink:to="ello_CompensationReceived_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CompensationReceived_lbl" xml:lang="en-US">Compensation received</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PercentageOfAcquireCooperativesHoldings" xlink:label="ello_PercentageOfAcquireCooperativesHoldings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfAcquireCooperativesHoldings" xlink:to="ello_PercentageOfAcquireCooperativesHoldings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PercentageOfAcquireCooperativesHoldings_lbl" xml:lang="en-US">Percentage of acquire cooperatives holdings</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AmountOfAcquisition" xlink:label="ello_AmountOfAcquisition" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfAcquisition" xlink:to="ello_AmountOfAcquisition_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_AmountOfAcquisition_lbl" xml:lang="en-US">Amount of Acquisition</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RemainingAmountOfAcquisition" xlink:label="ello_RemainingAmountOfAcquisition" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RemainingAmountOfAcquisition" xlink:to="ello_RemainingAmountOfAcquisition_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RemainingAmountOfAcquisition_lbl" xml:lang="en-US">Remaining amount of Acquisition</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xml:lang="en-US">Percentage of subsidiary owned</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LicencePeriod" xlink:label="ello_LicencePeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LicencePeriod" xlink:to="ello_LicencePeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LicencePeriod_lbl" xml:lang="en-US">Licence period</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ObligatedPostBondForDamages" xlink:label="ello_ObligatedPostBondForDamages" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ObligatedPostBondForDamages" xlink:to="ello_ObligatedPostBondForDamages_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ObligatedPostBondForDamages_lbl" xml:lang="en-US">Obligated post bond for damages</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ClaimsDamages" xlink:label="ello_ClaimsDamages" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClaimsDamages" xlink:to="ello_ClaimsDamages_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ClaimsDamages_lbl" xml:lang="en-US">Claims damages</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CommitmentToPayOrderedByCourt" xlink:label="ello_CommitmentToPayOrderedByCourt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CommitmentToPayOrderedByCourt" xlink:to="ello_CommitmentToPayOrderedByCourt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CommitmentToPayOrderedByCourt_lbl" xml:lang="en-US">Commitment to pay ordered by court</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LandAssessmentLiability" xlink:label="ello_LandAssessmentLiability" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LandAssessmentLiability" xlink:to="ello_LandAssessmentLiability_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LandAssessmentLiability_lbl" xml:lang="en-US">Land assessment liability</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ConsentFeeChargingPaymentLimit" xlink:label="ello_ConsentFeeChargingPaymentLimit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConsentFeeChargingPaymentLimit" xlink:to="ello_ConsentFeeChargingPaymentLimit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ConsentFeeChargingPaymentLimit_lbl" xml:lang="en-US">Consent fee charging payment limit</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ExpiryDateOfPriorConditionalLicense" xlink:label="ello_ExpiryDateOfPriorConditionalLicense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExpiryDateOfPriorConditionalLicense" xlink:to="ello_ExpiryDateOfPriorConditionalLicense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ExpiryDateOfPriorConditionalLicense_lbl" xml:lang="en-US">Expiry date of prior conditional license</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsTable" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialInstrumentsTable" xlink:to="ifrs-full_DisclosureOfFinancialInstrumentsTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsTable_lbl" xml:lang="en-US">Disclosure of detailed information about financial instruments [table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfFinancialInstrumentsLineItems" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialInstrumentsLineItems" xlink:to="ifrs-full_DisclosureOfFinancialInstrumentsLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsLineItems_lbl" xml:lang="en-US">Disclosure of detailed information about financial instruments [line items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialAssets" xlink:to="ifrs-full_CurrentDerivativeFinancialAssets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets_2_lbl" xml:lang="en-US">Derivatives presented under current assets</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets_2_lbl" xml:lang="en-US">Derivatives presented under non-current assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl" xml:lang="en-US">Derivatives presented under current liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_NoncurrentDerivativeFinancialLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities_2_lbl" xml:lang="en-US">Derivatives presented under non-current liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable_lbl" xml:lang="en-US">Disclosure of fair value measurement of assets [table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems_lbl" xml:lang="en-US">Disclosure of fair value measurement of assets [line items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MeasurementAxis" xlink:to="ifrs-full_MeasurementAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_MeasurementAxis_2_lbl" xml:lang="en-US">Measurement [axis]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_2_lbl" xml:lang="en-US">Levels of fair value hierarchy [axis]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:to="ifrs-full_NoncurrentLiabilitiesAbstract_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_2_lbl" xml:lang="en-US">Non-current liabilities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BondsIssuedUndiscountedCashFlows" xlink:label="ifrs-full_BondsIssuedUndiscountedCashFlows" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BondsIssuedUndiscountedCashFlows" xlink:to="ifrs-full_BondsIssuedUndiscountedCashFlows_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BondsIssuedUndiscountedCashFlows_lbl" xml:lang="en-US">Debentures</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BankBorrowingsUndiscountedCashFlows" xlink:label="ifrs-full_BankBorrowingsUndiscountedCashFlows" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankBorrowingsUndiscountedCashFlows" xlink:to="ifrs-full_BankBorrowingsUndiscountedCashFlows_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BankBorrowingsUndiscountedCashFlows_lbl" xml:lang="en-US">Loans from banks and others (including current maturities)</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FinanceLeaseObligationIncludingCurrentMaturities" xlink:label="ello_FinanceLeaseObligationIncludingCurrentMaturities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceLeaseObligationIncludingCurrentMaturities" xlink:to="ello_FinanceLeaseObligationIncludingCurrentMaturities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinanceLeaseObligationIncludingCurrentMaturities_lbl" xml:lang="en-US">Finance lease obligations (including current maturities)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentFinancialLiabilities" xlink:label="ifrs-full_CurrentFinancialLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentFinancialLiabilities" xlink:to="ifrs-full_CurrentFinancialLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentFinancialLiabilities_lbl" xml:lang="en-US">Total fair value of other financial liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities" xlink:label="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities" xlink:to="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfValuationTechniquesUsedInFairValueMeasurementLiabilities_lbl" xml:lang="en-US">Valuation techniques for determining fair value</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities" xlink:label="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities" xlink:to="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfInputsUsedInFairValueMeasurementLiabilities_lbl" xml:lang="en-US">Inputs used to determine fair value</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IncomeReceivable" xlink:label="ello_IncomeReceivable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncomeReceivable" xlink:to="ello_IncomeReceivable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IncomeReceivable_lbl" xml:lang="en-US">Income receivable in connection with the A.R.Z. electricity pumped storage project</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_OptionToAcquireAdditionalShares" xlink:label="ello_OptionToAcquireAdditionalShares" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OptionToAcquireAdditionalShares" xlink:to="ello_OptionToAcquireAdditionalShares_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_OptionToAcquireAdditionalShares_lbl" xml:lang="en-US">Option to require additional shares in investee</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DerivativeFinancialAssets" xlink:label="ifrs-full_DerivativeFinancialAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativeFinancialAssets" xlink:to="ifrs-full_DerivativeFinancialAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DerivativeFinancialAssets_lbl" xml:lang="en-US">Marketable securities</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SwapContracts" xlink:label="ello_SwapContracts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SwapContracts" xlink:to="ello_SwapContracts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_SwapContracts_lbl" xml:lang="en-US">Swap contracts</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrencySwap" xlink:label="ello_CurrencySwap" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencySwap" xlink:to="ello_CurrencySwap_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrencySwap_lbl" xml:lang="en-US">Currency swap</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DoriLoan" xlink:label="ello_DoriLoan" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriLoan" xlink:to="ello_DoriLoan_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DoriLoan_lbl" xml:lang="en-US">Dori Energy loan</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FinancialPowerSwap" xlink:label="ello_FinancialPowerSwap" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialPowerSwap" xlink:to="ello_FinancialPowerSwap_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinancialPowerSwap_lbl" xml:lang="en-US">Financial power swap</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssets" xlink:to="ifrs-full_FinancialAssets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_FinancialAssets_2_lbl" xml:lang="en-US">Balance as at Beginning</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CompensationAsPerAgreementWithErezElectricityLtd." xlink:label="ello_CompensationAsPerAgreementWithErezElectricityLtd." />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompensationAsPerAgreementWithErezElectricityLtd." xlink:to="ello_CompensationAsPerAgreementWithErezElectricityLtd._lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ello_CompensationAsPerAgreementWithErezElectricityLtd._lbl" xml:lang="en-US">Compensation as per agreement with Erez Electricity Ltd.</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RepaymentsOfCurrentBorrowings" xlink:label="ifrs-full_RepaymentsOfCurrentBorrowings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfCurrentBorrowings" xlink:to="ifrs-full_RepaymentsOfCurrentBorrowings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_RepaymentsOfCurrentBorrowings_lbl" xml:lang="en-US">Repayment of loan to an equity accounted investee</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss" xlink:label="ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss" xlink:to="ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FairValueGainsLossesOnFinancialAssetsReclassifiedOutOfFinancialAssetsAtFairValueThroughProfitOrLossRecognisedInProfitOrLoss_lbl" xml:lang="en-US">Total income recognized in profit or loss</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InterestExpense" xlink:label="ifrs-full_InterestExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpense" xlink:to="ifrs-full_InterestExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpense_lbl" xml:lang="en-US">Interest</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ProceedsFromReceivableFromConcessionProject" xlink:label="ello_ProceedsFromReceivableFromConcessionProject" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromReceivableFromConcessionProject" xlink:to="ello_ProceedsFromReceivableFromConcessionProject_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProceedsFromReceivableFromConcessionProject_lbl" xml:lang="en-US">Proceeds from asset from concession project</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ExerciseOfFirstOptionToAcquireAdditionalShares" xlink:label="ello_ExerciseOfFirstOptionToAcquireAdditionalShares" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExerciseOfFirstOptionToAcquireAdditionalShares" xlink:to="ello_ExerciseOfFirstOptionToAcquireAdditionalShares_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ExerciseOfFirstOptionToAcquireAdditionalShares_lbl" xml:lang="en-US">Exercise of first option to acquire additional shares</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseThroughForeignExchangeFinancialAssets" xlink:label="ifrs-full_IncreaseDecreaseThroughForeignExchangeFinancialAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughForeignExchangeFinancialAssets" xlink:to="ifrs-full_IncreaseDecreaseThroughForeignExchangeFinancialAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughForeignExchangeFinancialAssets_lbl" xml:lang="en-US">Foreign Currency translation adjustments</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssets" xlink:to="ifrs-full_FinancialAssets_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_FinancialAssets_3_lbl" xml:lang="en-US">Balance as at Ending</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable_lbl" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [line items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_2_lbl" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_2_lbl" xml:lang="en-US">Balance</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xml:lang="en-US">Additions</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Depreciation for the year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:label="ifrs-full_DisposalsPropertyPlantAndEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:to="ifrs-full_DisposalsPropertyPlantAndEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DisposalsPropertyPlantAndEquipment_lbl" xml:lang="en-US">Disposals</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment" xlink:label="ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment" xlink:to="ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment_lbl" xml:lang="en-US">New companies</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ChangesInPropertyPlantAndEquipment" xlink:label="ifrs-full_ChangesInPropertyPlantAndEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ChangesInPropertyPlantAndEquipment" xlink:to="ifrs-full_ChangesInPropertyPlantAndEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ChangesInPropertyPlantAndEquipment_lbl" xml:lang="en-US">Effect of changes in exchange rates</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_3_lbl" xml:lang="en-US">Balance</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PropertyPlantAndEquipmentDepreciation" xlink:label="ello_PropertyPlantAndEquipmentDepreciation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PropertyPlantAndEquipmentDepreciation" xlink:to="ello_PropertyPlantAndEquipmentDepreciation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ello_PropertyPlantAndEquipmentDepreciation_lbl" xml:lang="en-US">Balance</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PropertyPlantAndEquipmentDepreciation" xlink:to="ello_PropertyPlantAndEquipmentDepreciation_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ello_PropertyPlantAndEquipmentDepreciation_2_lbl" xml:lang="en-US">Balance</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DisposalsPropertyPlantAndEquipmentDepreciation" xlink:label="ello_DisposalsPropertyPlantAndEquipmentDepreciation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisposalsPropertyPlantAndEquipmentDepreciation" xlink:to="ello_DisposalsPropertyPlantAndEquipmentDepreciation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ello_DisposalsPropertyPlantAndEquipmentDepreciation_lbl" xml:lang="en-US">Disposals</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_GeographicalAreasAxis_2_lbl" xml:lang="en-US">Geographical areas [axis]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationExpense" xlink:to="ifrs-full_DepreciationExpense_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DepreciationExpense_2_lbl" xml:lang="en-US">Depreciation expenses</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GrossProfit_2_lbl" xml:lang="en-US">Gross profit (loss)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherOperatingIncomeExpense" xlink:to="ifrs-full_OtherOperatingIncomeExpense_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherOperatingIncomeExpense_2_lbl" xml:lang="en-US">Other income, net</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CapitalGainLoss" xlink:label="ello_CapitalGainLoss" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CapitalGainLoss" xlink:to="ello_CapitalGainLoss_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CapitalGainLoss_lbl" xml:lang="en-US">Capital gain (loss)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_ProfitLossFromOperatingActivities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_2_lbl" xml:lang="en-US">Operating profit (Loss)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_FinanceCosts_2_lbl" xml:lang="en-US">Financing expenses, net</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_2_lbl" xml:lang="en-US">Loss before taxes on income</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Assets_2_lbl" xml:lang="en-US">Segment assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable_lbl" xml:lang="en-US">Disclosure of detailed information about borrowings [table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems_lbl" xml:lang="en-US">Disclosure of detailed information about borrowings [line items]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RepaidBankLoan" xlink:label="ello_RepaidBankLoan" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaidBankLoan" xlink:to="ello_RepaidBankLoan_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_RepaidBankLoan_lbl" xml:lang="en-US">Repaid bank loan</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BorrowingsInterestRateBasis" xlink:label="ifrs-full_BorrowingsInterestRateBasis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRateBasis" xlink:to="ifrs-full_BorrowingsInterestRateBasis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsInterestRateBasis_lbl" xml:lang="en-US">Interest rate basis</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="ifrs-full_BorrowingsMaturity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsMaturity" xlink:to="ifrs-full_BorrowingsMaturity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsMaturity_lbl" xml:lang="en-US">Maturity date</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DescriptionOfApplicableMargin" xlink:label="ello_DescriptionOfApplicableMargin" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfApplicableMargin" xlink:to="ello_DescriptionOfApplicableMargin_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DescriptionOfApplicableMargin_lbl" xml:lang="en-US">Description of applicable margin</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DrawnDownOfLoan" xlink:label="ello_DrawnDownOfLoan" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DrawnDownOfLoan" xlink:to="ello_DrawnDownOfLoan_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DrawnDownOfLoan_lbl" xml:lang="en-US">Drawn down amount of loan</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BorrowingCostsCapitalised" xlink:label="ifrs-full_BorrowingCostsCapitalised" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingCostsCapitalised" xlink:to="ifrs-full_BorrowingCostsCapitalised_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingCostsCapitalised_lbl" xml:lang="en-US">Capitalized loan expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DescriptionOfDebtEquityRatioAndHoldings" xlink:label="ello_DescriptionOfDebtEquityRatioAndHoldings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfDebtEquityRatioAndHoldings" xlink:to="ello_DescriptionOfDebtEquityRatioAndHoldings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_DescriptionOfDebtEquityRatioAndHoldings_lbl" xml:lang="en-US">Description of Debt Equity ratio and holdings</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IdentityOfBorrower" xlink:label="ello_IdentityOfBorrower" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IdentityOfBorrower" xlink:to="ello_IdentityOfBorrower_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_IdentityOfBorrower_lbl" xml:lang="en-US">Identity of borrower</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LoanDate" xlink:label="ello_LoanDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanDate" xlink:to="ello_LoanDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_LoanDate_lbl" xml:lang="en-US">Loan date</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NotionalAmount" xlink:label="ifrs-full_NotionalAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotionalAmount" xlink:to="ifrs-full_NotionalAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en-US">Original amount of loan</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRateBasis" xlink:to="ifrs-full_BorrowingsInterestRateBasis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BorrowingsInterestRateBasis_2_lbl" xml:lang="en-US">Interest Mechanism and rate</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PaymentDateOfPrincipal" xlink:label="ello_PaymentDateOfPrincipal" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentDateOfPrincipal" xlink:to="ello_PaymentDateOfPrincipal_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PaymentDateOfPrincipal_lbl" xml:lang="en-US">Payment date of principal</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LongtermBorrowings" xlink:to="ifrs-full_LongtermBorrowings_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LongtermBorrowings_2_lbl" xml:lang="en-US">Original amount of loan</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ifrs-full_ShorttermBorrowings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermBorrowings" xlink:to="ifrs-full_ShorttermBorrowings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShorttermBorrowings_lbl" xml:lang="en-US">Less current maturities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_Borrowings_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Borrowings_2_lbl" xml:lang="en-US">Total material Company loans issued in the period</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:label="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:to="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable_lbl" xml:lang="en-US">Disclosure of non-adjusting events after reporting period [table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:label="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems_lbl" xml:lang="en-US">Disclosure of non-adjusting events after reporting period [line items]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssued" xlink:to="ifrs-full_NumberOfSharesIssued_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesIssued_lbl" xml:lang="en-US">Number of shares issued</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ifrs-full_ParValuePerShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ParValuePerShare_lbl" xml:lang="en-US">Price per share</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ProceedsFromIssuingSharesAndWarrants" xlink:label="ello_ProceedsFromIssuingSharesAndWarrants" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromIssuingSharesAndWarrants" xlink:to="ello_ProceedsFromIssuingSharesAndWarrants_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProceedsFromIssuingSharesAndWarrants_lbl" xml:lang="en-US">Proceeds from private placement</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TariffPricePerKilowat" xlink:label="ello_TariffPricePerKilowat" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TariffPricePerKilowat" xlink:to="ello_TariffPricePerKilowat_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TariffPricePerKilowat_lbl" xml:lang="en-US">Tariff price per kilowat</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PeriodOfTariff" xlink:label="ello_PeriodOfTariff" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PeriodOfTariff" xlink:to="ello_PeriodOfTariff_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PeriodOfTariff_lbl" xml:lang="en-US">Period of tariff</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PeriodOfTender" xlink:label="ello_PeriodOfTender" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PeriodOfTender" xlink:to="ello_PeriodOfTender_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PeriodOfTender_lbl" xml:lang="en-US">Period of tender</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PerformanceGuarantee" xlink:label="ello_PerformanceGuarantee" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PerformanceGuarantee" xlink:to="ello_PerformanceGuarantee_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_PerformanceGuarantee_lbl" xml:lang="en-US">Performance guarantee</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AccordingToIAS17Member" xlink:label="ello_AccordingToIAS17Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AccordingToIAS17Member" xlink:to="ello_AccordingToIAS17Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AccordingToIAS17Member_doc" xml:lang="en-US">According to IAS 17 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AccordingToIFRS16Member" xlink:label="ello_AccordingToIFRS16Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AccordingToIFRS16Member" xlink:to="ello_AccordingToIFRS16Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AccordingToIFRS16Member_doc" xml:lang="en-US">According to IFRS 16 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AcquafrescaMember" xlink:label="ello_AcquafrescaMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AcquafrescaMember" xlink:to="ello_AcquafrescaMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AcquafrescaMember_doc" xml:lang="en-US">Acquafresca [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AdditionalShareholderLoansAsContingentEquityMember" xlink:label="ello_AdditionalShareholderLoansAsContingentEquityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdditionalShareholderLoansAsContingentEquityMember" xlink:to="ello_AdditionalShareholderLoansAsContingentEquityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AdditionalShareholderLoansAsContingentEquityMember_doc" xml:lang="en-US">Additional shareholder loans as contingent equity [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdvanceTaxPayment" xlink:to="ello_AdvanceTaxPayment_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AdvanceTaxPayment_doc" xml:lang="en-US">The amount of advance tax payment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdvancesOnAccountOfInvestments" xlink:to="ello_AdvancesOnAccountOfInvestments_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AdvancesOnAccountOfInvestments_doc" xml:lang="en-US">Advances on account of investments.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AggregatePurchasePriceMember" xlink:label="ello_AggregatePurchasePriceMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AggregatePurchasePriceMember" xlink:to="ello_AggregatePurchasePriceMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AggregatePurchasePriceMember_doc" xml:lang="en-US">Aggregate purchase price [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AgiraSheuvaElectraLPMember" xlink:label="ello_AgiraSheuvaElectraLPMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AgiraSheuvaElectraLPMember" xlink:to="ello_AgiraSheuvaElectraLPMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AgiraSheuvaElectraLPMember_doc" xml:lang="en-US">Agira Sheuva Electra, L.P [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AgreegatePrincipalAmountMember" xlink:label="ello_AgreegatePrincipalAmountMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AgreegatePrincipalAmountMember" xlink:to="ello_AgreegatePrincipalAmountMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AgreegatePrincipalAmountMember_doc" xml:lang="en-US">Aggregate Principal Amount [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AmortizedQuarterlyMember" xlink:label="ello_AmortizedQuarterlyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmortizedQuarterlyMember" xlink:to="ello_AmortizedQuarterlyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmortizedQuarterlyMember_doc" xml:lang="en-US">Amortized quarterly [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AmortizedSemiAnnuallyMember" xlink:label="ello_AmortizedSemiAnnuallyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmortizedSemiAnnuallyMember" xlink:to="ello_AmortizedSemiAnnuallyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmortizedSemiAnnuallyMember_doc" xml:lang="en-US">Amortized semi-annually [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountFinancialAgreementGuaranteesByDirectShare" xlink:to="ello_AmountFinancialAgreementGuaranteesByDirectShare_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountFinancialAgreementGuaranteesByDirectShare_doc" xml:lang="en-US">Amount financial agreement guarantees by direct share.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountFinancialAgreementGuaranteesByIndirectShare" xlink:to="ello_AmountFinancialAgreementGuaranteesByIndirectShare_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountFinancialAgreementGuaranteesByIndirectShare_doc" xml:lang="en-US">Amount financial agreement guarantees by indirect share.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfLoanWithdrew" xlink:to="ello_AmountOfLoanWithdrew_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountOfLoanWithdrew_doc" xml:lang="en-US">Amount of loan withdrew.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AnaerobicDigestionPlantsMember" xlink:label="ello_AnaerobicDigestionPlantsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AnaerobicDigestionPlantsMember" xlink:to="ello_AnaerobicDigestionPlantsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AnaerobicDigestionPlantsMember_doc" xml:lang="en-US">anaerobic digestion plants [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_AnaerobicDigestionPlantsNetherlandsMember" xlink:label="ello_AnaerobicDigestionPlantsNetherlandsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AnaerobicDigestionPlantsNetherlandsMember" xlink:to="ello_AnaerobicDigestionPlantsNetherlandsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AnaerobicDigestionPlantsNetherlandsMember_doc" xml:lang="en-US">Anaerobic digestion plants in the Netherlands [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AnnualInterestRateForDeposits" xlink:to="ello_AnnualInterestRateForDeposits_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AnnualInterestRateForDeposits_doc" xml:lang="en-US">Annual interest rate for deposits.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_BankLoanMember" xlink:label="ello_BankLoanMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BankLoanMember" xlink:to="ello_BankLoanMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BankLoanMember_doc" xml:lang="en-US">Bank Loan [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BioGasMember" xlink:to="ello_BioGasMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BioGasMember_doc" xml:lang="en-US">Bio Gas [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BiogasInstallationMember" xlink:to="ello_BiogasInstallationMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BiogasInstallationMember_doc" xml:lang="en-US">Biogas installation [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_BiogasInstallationsMember" xlink:label="ello_BiogasInstallationsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BiogasInstallationsMember" xlink:to="ello_BiogasInstallationsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BiogasInstallationsMember_doc" xml:lang="en-US">Biogas Installations [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BondsCouponRate" xlink:to="ello_BondsCouponRate_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BondsCouponRate_doc" xml:lang="en-US">Bonds coupon rate.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_BondsMaturityDate" xlink:to="ello_BondsMaturityDate_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_BondsMaturityDate_doc" xml:lang="en-US">Bonds Maturity date.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CarryingAmountsMember" xlink:to="ello_CarryingAmountsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CarryingAmountsMember_doc" xml:lang="en-US">Carrying Amounts [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ChangeMember" xlink:label="ello_ChangeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChangeMember" xlink:to="ello_ChangeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ChangeMember_doc" xml:lang="en-US">The change [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ChashgalElyonLtdMember" xlink:label="ello_ChashgalElyonLtdMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ChashgalElyonLtdMember" xlink:to="ello_ChashgalElyonLtdMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ChashgalElyonLtdMember_doc" xml:lang="en-US">Chashgal Elyon Ltd [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClaimsAmountPayment" xlink:to="ello_ClaimsAmountPayment_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ClaimsAmountPayment_doc" xml:lang="en-US">Claims amount payment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClaimsInterestPaymentAmount" xlink:to="ello_ClaimsInterestPaymentAmount_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ClaimsInterestPaymentAmount_doc" xml:lang="en-US">Claims interest payment amount.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ClassesOfStockAxis" xlink:label="ello_ClassesOfStockAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClassesOfStockAxis" xlink:to="ello_ClassesOfStockAxis_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ClassesOfStockAxis_doc" xml:lang="en-US">Classes Of Stock [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CompanyBalanceSheetMember" xlink:label="ello_CompanyBalanceSheetMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompanyBalanceSheetMember" xlink:to="ello_CompanyBalanceSheetMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CompanyBalanceSheetMember_doc" xml:lang="en-US">Company's balance sheet [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ContractualCashFlowsMember" xlink:label="ello_ContractualCashFlowsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ContractualCashFlowsMember" xlink:to="ello_ContractualCashFlowsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ContractualCashFlowsMember_doc" xml:lang="en-US">Contractual cash flows [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CostantiniMember" xlink:label="ello_CostantiniMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CostantiniMember" xlink:to="ello_CostantiniMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CostantiniMember_doc" xml:lang="en-US">Costantini [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CreditFacilityMember" xlink:label="ello_CreditFacilityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CreditFacilityMember" xlink:to="ello_CreditFacilityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CreditFacilityMember_doc" xml:lang="en-US">Credit Facility [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrencyRiskEuroMember" xlink:label="ello_CurrencyRiskEuroMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskEuroMember" xlink:to="ello_CurrencyRiskEuroMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencyRiskEuroMember_doc" xml:lang="en-US">1 Euro [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrencyRiskEuroOneMember" xlink:label="ello_CurrencyRiskEuroOneMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskEuroOneMember" xlink:to="ello_CurrencyRiskEuroOneMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencyRiskEuroOneMember_doc" xml:lang="en-US">Euro [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrencyRiskFivePercentageOfEuroDecreaseEquityMember" xlink:label="ello_CurrencyRiskFivePercentageOfEuroDecreaseEquityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskFivePercentageOfEuroDecreaseEquityMember" xlink:to="ello_CurrencyRiskFivePercentageOfEuroDecreaseEquityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencyRiskFivePercentageOfEuroDecreaseEquityMember_doc" xml:lang="en-US">5% in Euro Decrease Equity [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrencyRiskFivePercentageOfEuroIncreaseEquityMember" xlink:label="ello_CurrencyRiskFivePercentageOfEuroIncreaseEquityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskFivePercentageOfEuroIncreaseEquityMember" xlink:to="ello_CurrencyRiskFivePercentageOfEuroIncreaseEquityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencyRiskFivePercentageOfEuroIncreaseEquityMember_doc" xml:lang="en-US">5% in Euro Increase Equity [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrencyRiskFivePercentageOfEuroMember" xlink:label="ello_CurrencyRiskFivePercentageOfEuroMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskFivePercentageOfEuroMember" xlink:to="ello_CurrencyRiskFivePercentageOfEuroMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencyRiskFivePercentageOfEuroMember_doc" xml:lang="en-US">5% in Euro [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrencyRiskFivePercentageOfNisDecreaseEquityMember" xlink:label="ello_CurrencyRiskFivePercentageOfNisDecreaseEquityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskFivePercentageOfNisDecreaseEquityMember" xlink:to="ello_CurrencyRiskFivePercentageOfNisDecreaseEquityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencyRiskFivePercentageOfNisDecreaseEquityMember_doc" xml:lang="en-US">5% in NIS Decrease Equity [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrencyRiskFivePercentageOfNisIncreaseEquityMember" xlink:label="ello_CurrencyRiskFivePercentageOfNisIncreaseEquityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskFivePercentageOfNisIncreaseEquityMember" xlink:to="ello_CurrencyRiskFivePercentageOfNisIncreaseEquityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencyRiskFivePercentageOfNisIncreaseEquityMember_doc" xml:lang="en-US">5% in NIS Increase Equity [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrencyRiskFivePercentageOfNisMember" xlink:label="ello_CurrencyRiskFivePercentageOfNisMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskFivePercentageOfNisMember" xlink:to="ello_CurrencyRiskFivePercentageOfNisMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencyRiskFivePercentageOfNisMember_doc" xml:lang="en-US">5% in NIS [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_CurrencyRiskNISMember" xlink:label="ello_CurrencyRiskNISMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencyRiskNISMember" xlink:to="ello_CurrencyRiskNISMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencyRiskNISMember_doc" xml:lang="en-US">NIS [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentForwardContractsAssets" xlink:to="ello_CurrentForwardContractsAssets_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrentForwardContractsAssets_doc" xml:lang="en-US">The amount of current forward contracts.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentIncomeReceivable" xlink:to="ello_CurrentIncomeReceivable_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrentIncomeReceivable_doc" xml:lang="en-US">The amount of current income receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentMaturitiesOfLoanToEquityAccountedInvestee" xlink:to="ello_CurrentMaturitiesOfLoanToEquityAccountedInvestee_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrentMaturitiesOfLoanToEquityAccountedInvestee_doc" xml:lang="en-US">Current maturities of loan to an equity accounted investee.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DAngellaMember" xlink:label="ello_DAngellaMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DAngellaMember" xlink:to="ello_DAngellaMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DAngellaMember_doc" xml:lang="en-US">D'Angella [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DecreaseOfOnePercentageMember" xlink:label="ello_DecreaseOfOnePercentageMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DecreaseOfOnePercentageMember" xlink:to="ello_DecreaseOfOnePercentageMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DecreaseOfOnePercentageMember_doc" xml:lang="en-US">Decrease of 1% [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DecreaseOfThreePercentageMember" xlink:label="ello_DecreaseOfThreePercentageMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DecreaseOfThreePercentageMember" xlink:to="ello_DecreaseOfThreePercentageMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DecreaseOfThreePercentageMember_doc" xml:lang="en-US">Decrease of 3% [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DeferredAggregatePurchasePrice" xlink:to="ello_DeferredAggregatePurchasePrice_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DeferredAggregatePurchasePrice_doc" xml:lang="en-US">Deferred aggregate purchase price.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DelBiancoMember" xlink:label="ello_DelBiancoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DelBiancoMember" xlink:to="ello_DelBiancoMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DelBiancoMember_doc" xml:lang="en-US">Del Bianco [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfAccountingPolicyForBasisOfConsolidationAndEquityMethodAccountingExplanatory" xlink:to="ello_DescriptionOfAccountingPolicyForBasisOfConsolidationAndEquityMethodAccountingExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfAccountingPolicyForBasisOfConsolidationAndEquityMethodAccountingExplanatory_doc" xml:lang="en-US">The description of the entity's accounting policy for basis of consolidation and equity method accounting.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfAccountingPolicyForChangeInClassificationExplanatory" xlink:to="ello_DescriptionOfAccountingPolicyForChangeInClassificationExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfAccountingPolicyForChangeInClassificationExplanatory_doc" xml:lang="en-US">The description of the entity's accounting policy for change in classification.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfAccountingPolicyForInitialApplicationOfNewStandardsAmendmentsToStandardsAndInterpretationsExplanatory" xlink:to="ello_DescriptionOfAccountingPolicyForInitialApplicationOfNewStandardsAmendmentsToStandardsAndInterpretationsExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfAccountingPolicyForInitialApplicationOfNewStandardsAmendmentsToStandardsAndInterpretationsExplanatory_doc" xml:lang="en-US">The description of the entity's accounting policy for initial application of new standards, amendments to standards and interpretations.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfAccountingPolicyForNewStandardsAndInterpretationsNotYetAdoptedExplanatory" xlink:to="ello_DescriptionOfAccountingPolicyForNewStandardsAndInterpretationsNotYetAdoptedExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfAccountingPolicyForNewStandardsAndInterpretationsNotYetAdoptedExplanatory_doc" xml:lang="en-US">The description of the entity's accounting policy for new standards and interpretations not yet adopted.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfAccountingPolicyForSignificantAccountingJudgmentsEstimatesAndAssumptionsUsedInPreparationOfFinancialStatementsExplanatory" xlink:to="ello_DescriptionOfAccountingPolicyForSignificantAccountingJudgmentsEstimatesAndAssumptionsUsedInPreparationOfFinancialStatementsExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfAccountingPolicyForSignificantAccountingJudgmentsEstimatesAndAssumptionsUsedInPreparationOfFinancialStatementsExplanatory_doc" xml:lang="en-US">The description of the entity's accounting policy for significant accounting judgments, estimates and assumptions used in the preparation of the financial statements.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectiveExplanatory" xlink:to="ello_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectiveExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectiveExplanatory_doc" xml:lang="en-US">The description of the entity's accounting policy for standards issued but not yet effective.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DirectorsMember" xlink:label="ello_DirectorsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DirectorsMember" xlink:to="ello_DirectorsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DirectorsMember_doc" xml:lang="en-US">Director [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutCompanyExposureToLinkageAndForeignCurrencyRiskExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutCompanyExposureToLinkageAndForeignCurrencyRiskExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutCompanyExposureToLinkageAndForeignCurrencyRiskExplanatory_doc" xml:lang="en-US">The disclosure of detailed information about company's exposure to linkage and foreign currency risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutForwardAndSWAPContractsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutForwardAndSWAPContractsExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutForwardAndSWAPContractsExplanatory_doc" xml:lang="en-US">The disclosure of detailed information about forward and swap contracts.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutRestrictedCashDepositsAndMarketableSecuritiesExplanatory_doc" xml:lang="en-US">The disclosure of detailed information about restricted cash, deposits and marketable securities.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutTradeAndOtherReceivablesAndAssetsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutTradeAndOtherReceivablesAndAssetsExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutTradeAndOtherReceivablesAndAssetsExplanatory_doc" xml:lang="en-US">The disclosure of detailed information about trade and other receivables and assets.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfLoansAndBorrowingsAbstract" xlink:to="ello_DisclosureOfLoansAndBorrowingsAbstract_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfLoansAndBorrowingsAbstract_doc" xml:lang="en-US">Disclosure of Loans and Borrowings [Abstract]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfSeasonalityExplanatory" xlink:to="ello_DisclosureOfSeasonalityExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfSeasonalityExplanatory_doc" xml:lang="en-US">The entire disclosure for seasonality.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoardMember" xlink:to="ello_DoardMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoardMember_doc" xml:lang="en-US">Dorad [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DoradDoriEnergyAndLuzonGroupMember" xlink:label="ello_DoradDoriEnergyAndLuzonGroupMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradDoriEnergyAndLuzonGroupMember" xlink:to="ello_DoradDoriEnergyAndLuzonGroupMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoradDoriEnergyAndLuzonGroupMember_doc" xml:lang="en-US">Dorad, Dori Energy and the Luzon Group [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradEnergyLtdMember" xlink:to="ello_DoradEnergyLtdMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoradEnergyLtdMember_doc" xml:lang="en-US">Dorad Energy Ltd [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DoradMember" xlink:label="ello_DoradMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradMember" xlink:to="ello_DoradMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoradMember_doc" xml:lang="en-US">Dorad [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DoradSharesHoldByZorluAndEdelcomLtdMember" xlink:label="ello_DoradSharesHoldByZorluAndEdelcomLtdMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoradSharesHoldByZorluAndEdelcomLtdMember" xlink:to="ello_DoradSharesHoldByZorluAndEdelcomLtdMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoradSharesHoldByZorluAndEdelcomLtdMember_doc" xml:lang="en-US">Dorad shares hold by Zorlu and Edelcom Ltd [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DoriEnergyMember" xlink:label="ello_DoriEnergyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriEnergyMember" xlink:to="ello_DoriEnergyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoriEnergyMember_doc" xml:lang="en-US">Dori Energy [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_DoriInvestmentAgreementMember" xlink:label="ello_DoriInvestmentAgreementMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriInvestmentAgreementMember" xlink:to="ello_DoriInvestmentAgreementMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoriInvestmentAgreementMember_doc" xml:lang="en-US">Dori Investment Agreement [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_EdelcomLtdMember" xlink:label="ello_EdelcomLtdMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EdelcomLtdMember" xlink:to="ello_EdelcomLtdMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EdelcomLtdMember_doc" xml:lang="en-US">Edelcom Ltd [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ElectraHoldingsMember" xlink:label="ello_ElectraHoldingsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ElectraHoldingsMember" xlink:to="ello_ElectraHoldingsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ElectraHoldingsMember_doc" xml:lang="en-US">Electra's holdings [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_EllomayLuxembourgMember" xlink:label="ello_EllomayLuxembourgMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayLuxembourgMember" xlink:to="ello_EllomayLuxembourgMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomayLuxembourgMember_doc" xml:lang="en-US">Ellomay Luxembourg [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_EllomayPumpedStorageMember" xlink:label="ello_EllomayPumpedStorageMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayPumpedStorageMember" xlink:to="ello_EllomayPumpedStorageMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomayPumpedStorageMember_doc" xml:lang="en-US">Ellomay Pumped Storage [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_EllomaySpainRinconadaSecondMember" xlink:label="ello_EllomaySpainRinconadaSecondMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySpainRinconadaSecondMember" xlink:to="ello_EllomaySpainRinconadaSecondMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomaySpainRinconadaSecondMember_doc" xml:lang="en-US">Ellomay Spain - Rinconada II [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_EllomaySpainSLMember" xlink:label="ello_EllomaySpainSLMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomaySpainSLMember" xlink:to="ello_EllomaySpainSLMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomaySpainSLMember_doc" xml:lang="en-US">Ellomay Spain S.L [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_EngineeringProcurementAndConstructionContractorMember" xlink:label="ello_EngineeringProcurementAndConstructionContractorMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EngineeringProcurementAndConstructionContractorMember" xlink:to="ello_EngineeringProcurementAndConstructionContractorMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EngineeringProcurementAndConstructionContractorMember_doc" xml:lang="en-US">EPC [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EquityAmountLessAssociatedExpenses" xlink:to="ello_EquityAmountLessAssociatedExpenses_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EquityAmountLessAssociatedExpenses_doc" xml:lang="en-US">Equity amount less associated expenses.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ErezElectricityLtdMember" xlink:to="ello_ErezElectricityLtdMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ErezElectricityLtdMember_doc" xml:lang="en-US">Erez Electricity Ltd [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FairValueMember" xlink:to="ello_FairValueMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FairValueMember_doc" xml:lang="en-US">Fair Value [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceIncomeExpenseNet" xlink:to="ello_FinanceIncomeExpenseNet_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinanceIncomeExpenseNet_doc" xml:lang="en-US">Financing income (expenses), net.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceLeaseObligationIncludingCurrentMaturities" xlink:to="ello_FinanceLeaseObligationIncludingCurrentMaturities_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinanceLeaseObligationIncludingCurrentMaturities_doc" xml:lang="en-US">Finance lease obligation including current maturities.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FinanceLeaseObligationIncludingCurrentMaturitiesMember" xlink:label="ello_FinanceLeaseObligationIncludingCurrentMaturitiesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceLeaseObligationIncludingCurrentMaturitiesMember" xlink:to="ello_FinanceLeaseObligationIncludingCurrentMaturitiesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinanceLeaseObligationIncludingCurrentMaturitiesMember_doc" xml:lang="en-US">Finance lease obligations[Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FinanceLeaseObligationsAndLongTermLoansMember" xlink:label="ello_FinanceLeaseObligationsAndLongTermLoansMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceLeaseObligationsAndLongTermLoansMember" xlink:to="ello_FinanceLeaseObligationsAndLongTermLoansMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinanceLeaseObligationsAndLongTermLoansMember_doc" xml:lang="en-US">Finance Lease Obligations And Long Term Loans [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FinanceLeaseObligationsMember" xlink:label="ello_FinanceLeaseObligationsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceLeaseObligationsMember" xlink:to="ello_FinanceLeaseObligationsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinanceLeaseObligationsMember_doc" xml:lang="en-US">Finance lease obligations[Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FinancialAssetMember" xlink:label="ello_FinancialAssetMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialAssetMember" xlink:to="ello_FinancialAssetMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinancialAssetMember_doc" xml:lang="en-US">Financial assets [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FinancialDebtMember" xlink:label="ello_FinancialDebtMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialDebtMember" xlink:to="ello_FinancialDebtMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinancialDebtMember_doc" xml:lang="en-US">Financial Debt [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancingIncomeExpensesInConnectionWithDerivativesNet" xlink:to="ello_FinancingIncomeExpensesInConnectionWithDerivativesNet_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinancingIncomeExpensesInConnectionWithDerivativesNet_doc" xml:lang="en-US">Financing income (expenses) in connection with derivatives, net.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FirstInstallmentMember" xlink:to="ello_FirstInstallmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FirstInstallmentMember_doc" xml:lang="en-US">First Installment [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FirstOptionMember" xlink:label="ello_FirstOptionMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FirstOptionMember" xlink:to="ello_FirstOptionMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FirstOptionMember_doc" xml:lang="en-US">First Option [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FiveRevolvingFacilitiesMember" xlink:label="ello_FiveRevolvingFacilitiesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FiveRevolvingFacilitiesMember" xlink:to="ello_FiveRevolvingFacilitiesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FiveRevolvingFacilitiesMember_doc" xml:lang="en-US">Five revolving facilities [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FiveTermLoanFacilitiesMember" xlink:label="ello_FiveTermLoanFacilitiesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FiveTermLoanFacilitiesMember" xlink:to="ello_FiveTermLoanFacilitiesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FiveTermLoanFacilitiesMember_doc" xml:lang="en-US">Five Term Loan Facilities [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FixedAssetsMember" xlink:label="ello_FixedAssetsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FixedAssetsMember" xlink:to="ello_FixedAssetsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FixedAssetsMember_doc" xml:lang="en-US">Fixed Assets [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FourTranchesMember" xlink:label="ello_FourTranchesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FourTranchesMember" xlink:to="ello_FourTranchesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FourTranchesMember_doc" xml:lang="en-US">Four tranches [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_FuenteLibrillaMember" xlink:label="ello_FuenteLibrillaMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FuenteLibrillaMember" xlink:to="ello_FuenteLibrillaMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FuenteLibrillaMember_doc" xml:lang="en-US">Fuente Librilla [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_GalatinaMember" xlink:label="ello_GalatinaMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GalatinaMember" xlink:to="ello_GalatinaMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GalatinaMember_doc" xml:lang="en-US">Galatina [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_GiacheMember" xlink:label="ello_GiacheMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GiacheMember" xlink:to="ello_GiacheMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GiacheMember_doc" xml:lang="en-US">Giache [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_GoorLoanAgreementMember" xlink:label="ello_GoorLoanAgreementMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GoorLoanAgreementMember" xlink:to="ello_GoorLoanAgreementMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GoorLoanAgreementMember_doc" xml:lang="en-US">Goor Loan Agreement [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GovernmentAuthorities" xlink:to="ello_GovernmentAuthorities_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GovernmentAuthorities_doc" xml:lang="en-US">Current amounts owed from government authorities.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_GroenGasGoorBVMember" xlink:label="ello_GroenGasGoorBVMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasGoorBVMember" xlink:to="ello_GroenGasGoorBVMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GroenGasGoorBVMember_doc" xml:lang="en-US">Groen Gas Goor B.V [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_GroenGasOudeTongeAnaerobicDigestionProjectMember" xlink:label="ello_GroenGasOudeTongeAnaerobicDigestionProjectMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGasOudeTongeAnaerobicDigestionProjectMember" xlink:to="ello_GroenGasOudeTongeAnaerobicDigestionProjectMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GroenGasOudeTongeAnaerobicDigestionProjectMember_doc" xml:lang="en-US">Groen Gas Oude-Tonge Anaerobic Digestion Project [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_GroenGoorAnaerobicDigestionProjectMember" xlink:label="ello_GroenGoorAnaerobicDigestionProjectMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGoorAnaerobicDigestionProjectMember" xlink:to="ello_GroenGoorAnaerobicDigestionProjectMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GroenGoorAnaerobicDigestionProjectMember_doc" xml:lang="en-US">Groen Goor Anaerobic Digestion Project [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_GroenGoorAndGorenGasOudeTongeMember" xlink:label="ello_GroenGoorAndGorenGasOudeTongeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_GroenGoorAndGorenGasOudeTongeMember" xlink:to="ello_GroenGoorAndGorenGasOudeTongeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_GroenGoorAndGorenGasOudeTongeMember_doc" xml:lang="en-US">Groen Goor and Goren Gas Oude-Tonge [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_HedgingReserveMember" xlink:to="ello_HedgingReserveMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_HedgingReserveMember_doc" xml:lang="en-US">Hedging Reserve [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IFRS9Member" xlink:label="ello_IFRS9Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IFRS9Member" xlink:to="ello_IFRS9Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IFRS9Member_doc" xml:lang="en-US">IFRS 9 [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IfrsStatementLineItems" xlink:to="ello_IfrsStatementLineItems_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IfrsStatementLineItems_doc" xml:lang="en-US">Ifrs Statement [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IfrsStatementTable" xlink:to="ello_IfrsStatementTable_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IfrsStatementTable_doc" xml:lang="en-US">Ifrs Statement [Table]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncomeReceivable" xlink:to="ello_IncomeReceivable_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncomeReceivable_doc" xml:lang="en-US">Income receivable in connection with the realted parties.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncomeReceivableInConnectionWithTheErezElectricityPSPMember" xlink:to="ello_IncomeReceivableInConnectionWithTheErezElectricityPSPMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncomeReceivableInConnectionWithTheErezElectricityPSPMember_doc" xml:lang="en-US">Income receivable in connection with the Erez Electricity PSP [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject" xlink:to="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncreaseDecreaseInChangeInReceivableFromConcessionsProject_doc" xml:lang="en-US">Change in receivable from concessions project.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseDecreaseThroughExerciseOfOptionsAndWarrants" xlink:to="ello_IncreaseDecreaseThroughExerciseOfOptionsAndWarrants_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncreaseDecreaseThroughExerciseOfOptionsAndWarrants_doc" xml:lang="en-US">The increase (decrease) in equity resulting from the exercise of options and warrants.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IncreaseOfThreePercentageMember" xlink:label="ello_IncreaseOfThreePercentageMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseOfThreePercentageMember" xlink:to="ello_IncreaseOfThreePercentageMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncreaseOfThreePercentageMember_doc" xml:lang="en-US">Increase of 3% [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IncreaseOnePercentageMember" xlink:label="ello_IncreaseOnePercentageMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncreaseOnePercentageMember" xlink:to="ello_IncreaseOnePercentageMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncreaseOnePercentageMember_doc" xml:lang="en-US">Increase of 1% [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_InterestSwapTransactionOneMember" xlink:label="ello_InterestSwapTransactionOneMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestSwapTransactionOneMember" xlink:to="ello_InterestSwapTransactionOneMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InterestSwapTransactionOneMember_doc" xml:lang="en-US">Interest swap contract [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_InterestSwapTransactionThreeMember" xlink:label="ello_InterestSwapTransactionThreeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestSwapTransactionThreeMember" xlink:to="ello_InterestSwapTransactionThreeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InterestSwapTransactionThreeMember_doc" xml:lang="en-US">Interest swap contract [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_InterestSwapTransactionTwoMember" xlink:label="ello_InterestSwapTransactionTwoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestSwapTransactionTwoMember" xlink:to="ello_InterestSwapTransactionTwoMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InterestSwapTransactionTwoMember_doc" xml:lang="en-US">Interest swap contract [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_InterestSwapTransactionsMember" xlink:label="ello_InterestSwapTransactionsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestSwapTransactionsMember" xlink:to="ello_InterestSwapTransactionsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InterestSwapTransactionsMember_doc" xml:lang="en-US">Interest Swap Transactions [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_InterestSwapTransactionsOneMember" xlink:label="ello_InterestSwapTransactionsOneMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestSwapTransactionsOneMember" xlink:to="ello_InterestSwapTransactionsOneMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InterestSwapTransactionsOneMember_doc" xml:lang="en-US">Interest Swap Transactions [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_InterestSwapTransactionsTwoMember" xlink:label="ello_InterestSwapTransactionsTwoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_InterestSwapTransactionsTwoMember" xlink:to="ello_InterestSwapTransactionsTwoMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_InterestSwapTransactionsTwoMember_doc" xml:lang="en-US">Interest Swap Transactions [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IsraeliClassifiedinvestorsViaPrivatePlacementMember" xlink:to="ello_IsraeliClassifiedinvestorsViaPrivatePlacementMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IsraeliClassifiedinvestorsViaPrivatePlacementMember_doc" xml:lang="en-US">Israeli classified investors via Private Placement [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_IsraeliConsortiumLoanAgreementMember" xlink:label="ello_IsraeliConsortiumLoanAgreementMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IsraeliConsortiumLoanAgreementMember" xlink:to="ello_IsraeliConsortiumLoanAgreementMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IsraeliConsortiumLoanAgreementMember_doc" xml:lang="en-US">Israeli consortium Loan Agreement [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ItalianSubsidiariesMember" xlink:label="ello_ItalianSubsidiariesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ItalianSubsidiariesMember" xlink:to="ello_ItalianSubsidiariesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ItalianSubsidiariesMember_doc" xml:lang="en-US">Italian subsidiaries [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ItalianSubsidiariesOneMember" xlink:label="ello_ItalianSubsidiariesOneMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ItalianSubsidiariesOneMember" xlink:to="ello_ItalianSubsidiariesOneMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ItalianSubsidiariesOneMember_doc" xml:lang="en-US">Italian Subsidiaries One [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ItalianSubsidiariesTwoMember" xlink:label="ello_ItalianSubsidiariesTwoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ItalianSubsidiariesTwoMember" xlink:to="ello_ItalianSubsidiariesTwoMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ItalianSubsidiariesTwoMember_doc" xml:lang="en-US">Italian Subsidiaries Two [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ItalianTaxationMember" xlink:label="ello_ItalianTaxationMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ItalianTaxationMember" xlink:to="ello_ItalianTaxationMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ItalianTaxationMember_doc" xml:lang="en-US">Italian taxation [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ItalyAndSpainMember" xlink:label="ello_ItalyAndSpainMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ItalyAndSpainMember" xlink:to="ello_ItalyAndSpainMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ItalyAndSpainMember_doc" xml:lang="en-US">Italy and Spain [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_KanirAndMeisafMember" xlink:label="ello_KanirAndMeisafMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KanirAndMeisafMember" xlink:to="ello_KanirAndMeisafMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_KanirAndMeisafMember_doc" xml:lang="en-US">Kanir and Meisaf [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_KeyManagementNonPersonnelOfEntityOrParentMember" xlink:label="ello_KeyManagementNonPersonnelOfEntityOrParentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KeyManagementNonPersonnelOfEntityOrParentMember" xlink:to="ello_KeyManagementNonPersonnelOfEntityOrParentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_KeyManagementNonPersonnelOfEntityOrParentMember_doc" xml:lang="en-US">Non Employed [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_KochavHayardenMember" xlink:label="ello_KochavHayardenMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_KochavHayardenMember" xlink:to="ello_KochavHayardenMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_KochavHayardenMember_doc" xml:lang="en-US">Kochav Hayarden's [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LaterThanFiveYearMember" xlink:label="ello_LaterThanFiveYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LaterThanFiveYearMember" xlink:to="ello_LaterThanFiveYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LaterThanFiveYearMember_doc" xml:lang="en-US">Sixth year and thereafter [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LetterOfCreditFacilityMember" xlink:to="ello_LetterOfCreditFacilityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LetterOfCreditFacilityMember_doc" xml:lang="en-US">Letter of credit facility [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanInterestPeriod" xlink:to="ello_LoanInterestPeriod_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoanInterestPeriod_doc" xml:lang="en-US">Loan interest period</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LoanOneMember" xlink:label="ello_LoanOneMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanOneMember" xlink:to="ello_LoanOneMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoanOneMember_doc" xml:lang="en-US">Loan one [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LoanTwoMember" xlink:label="ello_LoanTwoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanTwoMember" xlink:to="ello_LoanTwoMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoanTwoMember_doc" xml:lang="en-US">Loan Two [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksAndOthersMember" xlink:to="ello_LoansFromBanksAndOthersMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoansFromBanksAndOthersMember_doc" xml:lang="en-US">Loans from banks and others [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LoansFromBanksMember" xlink:label="ello_LoansFromBanksMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoansFromBanksMember" xlink:to="ello_LoansFromBanksMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoansFromBanksMember_doc" xml:lang="en-US">Loans from banks [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LongtermRestrictedNoninterestBearingBankDeposits" xlink:to="ello_LongtermRestrictedNoninterestBearingBankDeposits_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LongtermRestrictedNoninterestBearingBankDeposits_doc" xml:lang="en-US">Long-term restricted non-interest bearing bank deposits.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LossesOnIncomeMember" xlink:label="ello_LossesOnIncomeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LossesOnIncomeMember" xlink:to="ello_LossesOnIncomeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LossesOnIncomeMember_doc" xml:lang="en-US">Losses on Income [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LudaAndEllomayLuxemburgMember" xlink:label="ello_LudaAndEllomayLuxemburgMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LudaAndEllomayLuxemburgMember" xlink:to="ello_LudaAndEllomayLuxemburgMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LudaAndEllomayLuxemburgMember_doc" xml:lang="en-US">Ludan and Ellomay Luxemburg [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LudanMember" xlink:label="ello_LudanMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LudanMember" xlink:to="ello_LudanMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LudanMember_doc" xml:lang="en-US">Ludan [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LuxembourgTaxationMember" xlink:label="ello_LuxembourgTaxationMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LuxembourgTaxationMember" xlink:to="ello_LuxembourgTaxationMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LuxembourgTaxationMember_doc" xml:lang="en-US">Luxembourg taxation [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_LuzonGroupMember" xlink:label="ello_LuzonGroupMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LuzonGroupMember" xlink:to="ello_LuzonGroupMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LuzonGroupMember_doc" xml:lang="en-US">Luzon Group [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_METKAEgnLimitedMember" xlink:label="ello_METKAEgnLimitedMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_METKAEgnLimitedMember" xlink:to="ello_METKAEgnLimitedMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_METKAEgnLimitedMember_doc" xml:lang="en-US">METKA EGN Limited [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ManaraMember" xlink:to="ello_ManaraMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ManaraMember_doc" xml:lang="en-US">Manara [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ManaraProjectMember" xlink:label="ello_ManaraProjectMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ManaraProjectMember" xlink:to="ello_ManaraProjectMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ManaraProjectMember_doc" xml:lang="en-US">Manara Project [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MarketableSecuritiesMember" xlink:to="ello_MarketableSecuritiesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_MarketableSecuritiesMember_doc" xml:lang="en-US">Marketable securities [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_MassaccesiMember" xlink:label="ello_MassaccesiMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MassaccesiMember" xlink:to="ello_MassaccesiMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_MassaccesiMember_doc" xml:lang="en-US">Massaccesi [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_MrZoharZisapelMember" xlink:label="ello_MrZoharZisapelMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_MrZoharZisapelMember" xlink:to="ello_MrZoharZisapelMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_MrZoharZisapelMember_doc" xml:lang="en-US">Mr. Zohar Zisapel [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss" xlink:to="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NetChangeInFairValueOfCashFlowHedgesTransferredToProfitOrLoss_doc" xml:lang="en-US">Net change in fair value of cash flow hedges transferred to profit or loss.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_NetFinancialDebtMember" xlink:label="ello_NetFinancialDebtMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NetFinancialDebtMember" xlink:to="ello_NetFinancialDebtMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NetFinancialDebtMember_doc" xml:lang="en-US">Net Financial Debt [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_NetherlandsMember" xlink:label="ello_NetherlandsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NetherlandsMember" xlink:to="ello_NetherlandsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NetherlandsMember_doc" xml:lang="en-US">Netherlands [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_NewProjectInSpainMember" xlink:label="ello_NewProjectInSpainMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NewProjectInSpainMember" xlink:to="ello_NewProjectInSpainMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NewProjectInSpainMember_doc" xml:lang="en-US">New project in Spain [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_NonMonetaryMember" xlink:label="ello_NonMonetaryMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NonMonetaryMember" xlink:to="ello_NonMonetaryMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NonMonetaryMember_doc" xml:lang="en-US">Non-Monetary [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_NotLaterThanFiveYearMember" xlink:label="ello_NotLaterThanFiveYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NotLaterThanFiveYearMember" xlink:to="ello_NotLaterThanFiveYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NotLaterThanFiveYearMember_doc" xml:lang="en-US">2022 and thereafter [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_NotLaterThanFourYearMember" xlink:label="ello_NotLaterThanFourYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NotLaterThanFourYearMember" xlink:to="ello_NotLaterThanFourYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NotLaterThanFourYearMember_doc" xml:lang="en-US">2020 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_NotLaterThanOneYearsMember" xlink:label="ello_NotLaterThanOneYearsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NotLaterThanOneYearsMember" xlink:to="ello_NotLaterThanOneYearsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NotLaterThanOneYearsMember_doc" xml:lang="en-US">2017 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_NotLaterThanThreeYearMember" xlink:label="ello_NotLaterThanThreeYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NotLaterThanThreeYearMember" xlink:to="ello_NotLaterThanThreeYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NotLaterThanThreeYearMember_doc" xml:lang="en-US">2019 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_NotLaterThanTwoYearMember" xlink:label="ello_NotLaterThanTwoYearMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NotLaterThanTwoYearMember" xlink:to="ello_NotLaterThanTwoYearMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NotLaterThanTwoYearMember_doc" xml:lang="en-US">2018 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_OperationOfPVPlantMember" xlink:label="ello_OperationOfPVPlantMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OperationOfPVPlantMember" xlink:to="ello_OperationOfPVPlantMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OperationOfPVPlantMember_doc" xml:lang="en-US">Operation of PV Plant [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_OptionToAcquireAdditionalSaresInDoriEnergyMember" xlink:label="ello_OptionToAcquireAdditionalSaresInDoriEnergyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OptionToAcquireAdditionalSaresInDoriEnergyMember" xlink:to="ello_OptionToAcquireAdditionalSaresInDoriEnergyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OptionToAcquireAdditionalSaresInDoriEnergyMember_doc" xml:lang="en-US">Option to acquire additional shares in Dori Energy [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_OrtamholdingsMember" xlink:label="ello_OrtamholdingsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OrtamholdingsMember" xlink:to="ello_OrtamholdingsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OrtamholdingsMember_doc" xml:lang="en-US">Ortam's holdings [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_OtherLongTermLoansMember" xlink:label="ello_OtherLongTermLoansMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OtherLongTermLoansMember" xlink:to="ello_OtherLongTermLoansMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OtherLongTermLoansMember_doc" xml:lang="en-US">Other long-term loans [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_OudeTongeLoanAgreementMember" xlink:label="ello_OudeTongeLoanAgreementMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OudeTongeLoanAgreementMember" xlink:to="ello_OudeTongeLoanAgreementMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OudeTongeLoanAgreementMember_doc" xml:lang="en-US">Oude Tonge Loan Agreement [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_OudeTongeProjectMember" xlink:label="ello_OudeTongeProjectMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OudeTongeProjectMember" xlink:to="ello_OudeTongeProjectMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OudeTongeProjectMember_doc" xml:lang="en-US">Oude Tonge Project [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PVPlantsMember" xlink:label="ello_PVPlantsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PVPlantsMember" xlink:to="ello_PVPlantsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PVPlantsMember_doc" xml:lang="en-US">PV Plants [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee" xlink:to="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PaymentOfInterestOnLoanFromEquityAccountedInvestee_doc" xml:lang="en-US">Payment of interest on loan from an equity accounted investee.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentReceivedForManagementAndEntrepreneurshipServices" xlink:to="ello_PaymentReceivedForManagementAndEntrepreneurshipServices_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PaymentReceivedForManagementAndEntrepreneurshipServices_doc" xml:lang="en-US">Payment received for management and entrepreneurship services.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PedaleMember" xlink:label="ello_PedaleMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PedaleMember" xlink:to="ello_PedaleMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PedaleMember_doc" xml:lang="en-US">Pedale [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfAggregatePurchasePriceThatRepresentsAmountsWithdrawnAndInterestsAccrued" xlink:to="ello_PercentageOfAggregatePurchasePriceThatRepresentsAmountsWithdrawnAndInterestsAccrued_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfAggregatePurchasePriceThatRepresentsAmountsWithdrawnAndInterestsAccrued_doc" xml:lang="en-US">Percentage of aggregate purchase price that represents amounts withdrawn and interests accrued.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PercentageOfDoardsSharesHoldByDoriEnergyAndEilatAshkelonPipelineCompanyMember" xlink:label="ello_PercentageOfDoardsSharesHoldByDoriEnergyAndEilatAshkelonPipelineCompanyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfDoardsSharesHoldByDoriEnergyAndEilatAshkelonPipelineCompanyMember" xlink:to="ello_PercentageOfDoardsSharesHoldByDoriEnergyAndEilatAshkelonPipelineCompanyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfDoardsSharesHoldByDoriEnergyAndEilatAshkelonPipelineCompanyMember_doc" xml:lang="en-US">Percentage of Doard's shares hold by Dori Energy and Eilat Ashkelon Infrastructure Services Ltd [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfSaleOfOutstandingSharesBySubsidiary" xlink:to="ello_PercentageOfSaleOfOutstandingSharesBySubsidiary_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfSaleOfOutstandingSharesBySubsidiary_doc" xml:lang="en-US">Percentage of sale of outstanding shares.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfShareCapitalHolds" xlink:to="ello_PercentageOfShareCapitalHolds_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfShareCapitalHolds_doc" xml:lang="en-US">The percentage of share capital holds.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfSharesIndirectlyHeldByCompanyUnderCreditFacilitiesAssignmentAndSaleAndPurchaseOfSharesAgreement" xlink:to="ello_PercentageOfSharesIndirectlyHeldByCompanyUnderCreditFacilitiesAssignmentAndSaleAndPurchaseOfSharesAgreement_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfSharesIndirectlyHeldByCompanyUnderCreditFacilitiesAssignmentAndSaleAndPurchaseOfSharesAgreement_doc" xml:lang="en-US">Percentage of shares indirectly held by company under credit facilities assignment and sale and purchase of shares agreement.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PhotovoltaicPlantsInItalyMember" xlink:label="ello_PhotovoltaicPlantsInItalyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PhotovoltaicPlantsInItalyMember" xlink:to="ello_PhotovoltaicPlantsInItalyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PhotovoltaicPlantsInItalyMember_doc" xml:lang="en-US">Photovoltaic plants in Italy [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_PhotovoltaicPlantsInSpainMember" xlink:label="ello_PhotovoltaicPlantsInSpainMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PhotovoltaicPlantsInSpainMember" xlink:to="ello_PhotovoltaicPlantsInSpainMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PhotovoltaicPlantsInSpainMember_doc" xml:lang="en-US">Photovoltaic plants in Spain [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_Plan1998Member" xlink:label="ello_Plan1998Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_Plan1998Member" xlink:to="ello_Plan1998Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_Plan1998Member_doc" xml:lang="en-US">1998 Plan [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_Plan2000Member" xlink:label="ello_Plan2000Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_Plan2000Member" xlink:to="ello_Plan2000Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_Plan2000Member_doc" xml:lang="en-US">2000 Plan [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromSettlementOfDerivativesNet" xlink:to="ello_ProceedsFromSettlementOfDerivativesNet_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedsFromSettlementOfDerivativesNet_doc" xml:lang="en-US">Proceeds from settlement of derivatives, net.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProjectFinancingAggregateAmount" xlink:to="ello_ProjectFinancingAggregateAmount_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProjectFinancingAggregateAmount_doc" xml:lang="en-US">Project financing aggregate amount.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PumpedStorageProjectsMember" xlink:to="ello_PumpedStorageProjectsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PumpedStorageProjectsMember_doc" xml:lang="en-US">Pumped Storage Projects [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RabobankABNAMROAndDeutscheBankAndEuropeanInvestmentBankMember" xlink:label="ello_RabobankABNAMROAndDeutscheBankAndEuropeanInvestmentBankMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RabobankABNAMROAndDeutscheBankAndEuropeanInvestmentBankMember" xlink:to="ello_RabobankABNAMROAndDeutscheBankAndEuropeanInvestmentBankMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RabobankABNAMROAndDeutscheBankAndEuropeanInvestmentBankMember_doc" xml:lang="en-US">Rabobank, ABN AMRO and Deutsche Bank (commercial tranche) and the European Investment Bank [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RabobankMember" xlink:label="ello_RabobankMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RabobankMember" xlink:to="ello_RabobankMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RabobankMember_doc" xml:lang="en-US">Rabobank [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReceivableFromConcessionProject" xlink:to="ello_ReceivableFromConcessionProject_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ReceivableFromConcessionProject_doc" xml:lang="en-US">Financial asset in connection with Government bodies for the construction and operation of a facility in consideration for fixed and variable payments.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReconciliationsMember" xlink:to="ello_ReconciliationsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ReconciliationsMember_doc" xml:lang="en-US">Reconciliations [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RecoveryOfAmountCommitted" xlink:to="ello_RecoveryOfAmountCommitted_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RecoveryOfAmountCommitted_doc" xml:lang="en-US">Recovery of amounts committed.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RefundAmountInClaim" xlink:to="ello_RefundAmountInClaim_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RefundAmountInClaim_doc" xml:lang="en-US">Refund amount to Dorad.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentOfLoanFromEquityAccountedInvestee" xlink:to="ello_RepaymentOfLoanFromEquityAccountedInvestee_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RepaymentOfLoanFromEquityAccountedInvestee_doc" xml:lang="en-US">Repayment of loan from an equity accounted investee.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember" xlink:label="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember" xlink:to="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ReserveOfPresentationInValueOfForeignCurrencyBasisSpreadsMember_doc" xml:lang="en-US">Presentation currency translation Reserve [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ResidentAndNonResidentMember" xlink:label="ello_ResidentAndNonResidentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ResidentAndNonResidentMember" xlink:to="ello_ResidentAndNonResidentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ResidentAndNonResidentMember_doc" xml:lang="en-US">Resident and Non-Resident [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RestrictedCashAndLongtermBankDeposits" xlink:to="ello_RestrictedCashAndLongtermBankDeposits_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RestrictedCashAndLongtermBankDeposits_doc" xml:lang="en-US">Restricted cash and long-term bank deposits.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RevolvingCreditFacility1Member" xlink:label="ello_RevolvingCreditFacility1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RevolvingCreditFacility1Member" xlink:to="ello_RevolvingCreditFacility1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RevolvingCreditFacility1Member_doc" xml:lang="en-US">Revolving credit facility [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RevolvingDebtServiceReserveFacilityFromEIBMember" xlink:to="ello_RevolvingDebtServiceReserveFacilityFromEIBMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RevolvingDebtServiceReserveFacilityFromEIBMember_doc" xml:lang="en-US">Revolving debt service reserve facility from EIB [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RevolvingDebtServiceReserveFacilityMember" xlink:to="ello_RevolvingDebtServiceReserveFacilityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RevolvingDebtServiceReserveFacilityMember_doc" xml:lang="en-US">Revolving debt service reserve facility [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RodriguezFirstMember" xlink:label="ello_RodriguezFirstMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RodriguezFirstMember" xlink:to="ello_RodriguezFirstMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RodriguezFirstMember_doc" xml:lang="en-US">Rodriguez I [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_RodriguezSeondMember" xlink:label="ello_RodriguezSeondMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RodriguezSeondMember" xlink:to="ello_RodriguezSeondMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RodriguezSeondMember_doc" xml:lang="en-US">Rodriguez II [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SaleOfSharesInSubsidiariesToNoncontrollingInterests" xlink:to="ello_SaleOfSharesInSubsidiariesToNoncontrollingInterests_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SaleOfSharesInSubsidiariesToNoncontrollingInterests_doc" xml:lang="en-US">Sale of shares in subsidiaries to non-controlling interests.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SecondInstallmentMember" xlink:to="ello_SecondInstallmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SecondInstallmentMember_doc" xml:lang="en-US">Second Installment [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SecondOptionMember" xlink:label="ello_SecondOptionMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SecondOptionMember" xlink:to="ello_SecondOptionMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SecondOptionMember_doc" xml:lang="en-US">Second Option [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SemiAnnuallyMember" xlink:label="ello_SemiAnnuallyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SemiAnnuallyMember" xlink:to="ello_SemiAnnuallyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SemiAnnuallyMember_doc" xml:lang="en-US">Semi-annually [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SeniorLoanMember" xlink:label="ello_SeniorLoanMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeniorLoanMember" xlink:to="ello_SeniorLoanMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SeniorLoanMember_doc" xml:lang="en-US">Senior Loan [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SeriesBDebenturesMember" xlink:label="ello_SeriesBDebenturesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesBDebenturesMember" xlink:to="ello_SeriesBDebenturesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SeriesBDebenturesMember_doc" xml:lang="en-US">Series B Debentures [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SeriesBDeedOfTrustMember" xlink:label="ello_SeriesBDeedOfTrustMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesBDeedOfTrustMember" xlink:to="ello_SeriesBDeedOfTrustMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SeriesBDeedOfTrustMember_doc" xml:lang="en-US">Series B Deed of Trust [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SeriesBNonconvertibleUnsecuredDebenturesMember" xlink:label="ello_SeriesBNonconvertibleUnsecuredDebenturesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesBNonconvertibleUnsecuredDebenturesMember" xlink:to="ello_SeriesBNonconvertibleUnsecuredDebenturesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SeriesBNonconvertibleUnsecuredDebenturesMember_doc" xml:lang="en-US">Series B Nonconvertible Unsecured Debentures [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SeriesaDebenturesMember" xlink:to="ello_SeriesaDebenturesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SeriesaDebenturesMember_doc" xml:lang="en-US">Series A Debentures [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ShareholderLoansMember" xlink:label="ello_ShareholderLoansMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShareholderLoansMember" xlink:to="ello_ShareholderLoansMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ShareholderLoansMember_doc" xml:lang="en-US">Shareholder loans [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SharesInTalasolMember" xlink:to="ello_SharesInTalasolMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SharesInTalasolMember_doc" xml:lang="en-US">Shares in Talasol [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ShevaMizrakotLtdMember" xlink:label="ello_ShevaMizrakotLtdMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShevaMizrakotLtdMember" xlink:to="ello_ShevaMizrakotLtdMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ShevaMizrakotLtdMember_doc" xml:lang="en-US">Sheva Mizrakot Ltd [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SolecoMember" xlink:label="ello_SolecoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SolecoMember" xlink:to="ello_SolecoMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SolecoMember_doc" xml:lang="en-US">Soleco[Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SpainshTaxationMember" xlink:label="ello_SpainshTaxationMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SpainshTaxationMember" xlink:to="ello_SpainshTaxationMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SpainshTaxationMember_doc" xml:lang="en-US">Spanish taxation [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SpanishPVPlantsMember" xlink:label="ello_SpanishPVPlantsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SpanishPVPlantsMember" xlink:to="ello_SpanishPVPlantsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SpanishPVPlantsMember_doc" xml:lang="en-US">Spanish PV Plants [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SpanishSubsidiariesMember" xlink:label="ello_SpanishSubsidiariesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SpanishSubsidiariesMember" xlink:to="ello_SpanishSubsidiariesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SpanishSubsidiariesMember_doc" xml:lang="en-US">Spanish subsidiaries [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SwapContracts" xlink:to="ello_SwapContracts_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SwapContracts_doc" xml:lang="en-US">Swap contracts.</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_SwapContractsMember" xlink:label="ello_SwapContractsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_SwapContractsMember" xlink:to="ello_SwapContractsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_SwapContractsMember_doc" xml:lang="en-US">Swap contract [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolMember" xlink:to="ello_TalasolMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalasolMember_doc" xml:lang="en-US">Talasol [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolProjectMember" xlink:to="ello_TalasolProjectMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalasolProjectMember_doc" xml:lang="en-US">Talasol Project [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TalasolSharesSaleToFondICOInfraestructurasFICCMember" xlink:label="ello_TalasolSharesSaleToFondICOInfraestructurasFICCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolSharesSaleToFondICOInfraestructurasFICCMember" xlink:to="ello_TalasolSharesSaleToFondICOInfraestructurasFICCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalasolSharesSaleToFondICOInfraestructurasFICCMember_doc" xml:lang="en-US">Talasol Solar shares sale to Fond-ICO Infraestructuras II, FICC [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TalasolSharesSaleToGSEThreeUKLimitedMember" xlink:label="ello_TalasolSharesSaleToGSEThreeUKLimitedMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolSharesSaleToGSEThreeUKLimitedMember" xlink:to="ello_TalasolSharesSaleToGSEThreeUKLimitedMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalasolSharesSaleToGSEThreeUKLimitedMember_doc" xml:lang="en-US">Talasol Solar shares sale to GSE 3 UK Limited [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TalasolSolarSLMember" xlink:label="ello_TalasolSolarSLMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolSolarSLMember" xlink:to="ello_TalasolSolarSLMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalasolSolarSLMember_doc" xml:lang="en-US">Talasol Solar S.L [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalasolSolarSLUMember" xlink:to="ello_TalasolSolarSLUMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalasolSolarSLUMember_doc" xml:lang="en-US">Talasol Solar S.L.U [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TalmeiYosefAgreementMember" xlink:label="ello_TalmeiYosefAgreementMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalmeiYosefAgreementMember" xlink:to="ello_TalmeiYosefAgreementMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalmeiYosefAgreementMember_doc" xml:lang="en-US">Talmei Yosef Agreement [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TalmeiYosefMember" xlink:label="ello_TalmeiYosefMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TalmeiYosefMember" xlink:to="ello_TalmeiYosefMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TalmeiYosefMember_doc" xml:lang="en-US">Talmei Yosef [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TechnoenergyMember" xlink:label="ello_TechnoenergyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TechnoenergyMember" xlink:to="ello_TechnoenergyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TechnoenergyMember_doc" xml:lang="en-US">Technoenergy [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TermFacilityFromEIBMember" xlink:to="ello_TermFacilityFromEIBMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TermFacilityFromEIBMember_doc" xml:lang="en-US">Term facility from EIB [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TermFacilityMember" xlink:to="ello_TermFacilityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TermFacilityMember_doc" xml:lang="en-US">Term facility [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TermLoanMember" xlink:label="ello_TermLoanMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TermLoanMember" xlink:to="ello_TermLoanMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TermLoanMember_doc" xml:lang="en-US">Term Loan [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TrancheOneMember" xlink:label="ello_TrancheOneMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TrancheOneMember" xlink:to="ello_TrancheOneMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TrancheOneMember_doc" xml:lang="en-US">Tranche One [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TrancheTwoMember" xlink:label="ello_TrancheTwoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TrancheTwoMember" xlink:to="ello_TrancheTwoMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TrancheTwoMember_doc" xml:lang="en-US">Tranche Two [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TransactionAxis" xlink:label="ello_TransactionAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionAxis" xlink:to="ello_TransactionAxis_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TransactionAxis_doc" xml:lang="en-US">Transaction [Axis]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionReserveWithNoncontrollingInterests" xlink:to="ello_TransactionReserveWithNoncontrollingInterests_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TransactionReserveWithNoncontrollingInterests_doc" xml:lang="en-US">Transaction reserve with non-controlling Interests.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionReserveWithNoncontrollingInterestsMember" xlink:to="ello_TransactionReserveWithNoncontrollingInterestsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TransactionReserveWithNoncontrollingInterestsMember_doc" xml:lang="en-US">Transaction reserve with non-controlling interests</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TroiaEightMember" xlink:label="ello_TroiaEightMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TroiaEightMember" xlink:to="ello_TroiaEightMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TroiaEightMember_doc" xml:lang="en-US">Troia 8 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TroiaNineMember" xlink:label="ello_TroiaNineMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TroiaNineMember" xlink:to="ello_TroiaNineMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TroiaNineMember_doc" xml:lang="en-US">Troia 9 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TwoThousandsEighteenMember" xlink:label="ello_TwoThousandsEighteenMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TwoThousandsEighteenMember" xlink:to="ello_TwoThousandsEighteenMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TwoThousandsEighteenMember_doc" xml:lang="en-US">2018 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_TwoThousandsSeventeenMember" xlink:label="ello_TwoThousandsSeventeenMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TwoThousandsSeventeenMember" xlink:to="ello_TwoThousandsSeventeenMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TwoThousandsSeventeenMember_doc" xml:lang="en-US">2017 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_UBIBancaMember" xlink:label="ello_UBIBancaMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UBIBancaMember" xlink:to="ello_UBIBancaMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_UBIBancaMember_doc" xml:lang="en-US">UBI Banca [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_UDoriGroupLtdMember" xlink:label="ello_UDoriGroupLtdMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UDoriGroupLtdMember" xlink:to="ello_UDoriGroupLtdMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_UDoriGroupLtdMember_doc" xml:lang="en-US">U. Dori Group Ltd [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_UnlinkedMember" xlink:label="ello_UnlinkedMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnlinkedMember" xlink:to="ello_UnlinkedMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_UnlinkedMember_doc" xml:lang="en-US">Unliked [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_UnsecuredNonConvertibleSeriesCDebenturesMember" xlink:label="ello_UnsecuredNonConvertibleSeriesCDebenturesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_UnsecuredNonConvertibleSeriesCDebenturesMember" xlink:to="ello_UnsecuredNonConvertibleSeriesCDebenturesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_UnsecuredNonConvertibleSeriesCDebenturesMember_doc" xml:lang="en-US">Unsecured non-convertible Series C Debentures [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_VATFacilityMember" xlink:to="ello_VATFacilityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_VATFacilityMember_doc" xml:lang="en-US">VAT facility [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_WACHOVIAMember" xlink:to="ello_WACHOVIAMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_WACHOVIAMember_doc" xml:lang="en-US">WACHOVIA [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_WasteToEnergyMember" xlink:label="ello_WasteToEnergyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_WasteToEnergyMember" xlink:to="ello_WasteToEnergyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_WasteToEnergyMember_doc" xml:lang="en-US">Waste-to-energy [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_WteProjectsMember" xlink:label="ello_WteProjectsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_WteProjectsMember" xlink:to="ello_WteProjectsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_WteProjectsMember_doc" xml:lang="en-US">WtE projects [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ZorluEnerjiElektrikUretimASMember" xlink:label="ello_ZorluEnerjiElektrikUretimASMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ZorluEnerjiElektrikUretimASMember" xlink:to="ello_ZorluEnerjiElektrikUretimASMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ZorluEnerjiElektrikUretimASMember_doc" xml:lang="en-US">Zorlu Enerji Elektrik Uretim A.S [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ZorluMember" xlink:label="ello_ZorluMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ZorluMember" xlink:to="ello_ZorluMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ZorluMember_doc" xml:lang="en-US">Zorlu [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="ello-20200630.xsd#ello_ZorlyMember" xlink:label="ello_ZorlyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ZorlyMember" xlink:to="ello_ZorlyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ZorlyMember_doc" xml:lang="en-US">Zorly [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShorttermDeposits" xlink:to="ello_ShorttermDeposits_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ShorttermDeposits_doc" xml:lang="en-US">The amount of short-term deposits held by the entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CapitalGain" xlink:to="ello_CapitalGain_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CapitalGain_doc" xml:lang="en-US">Capital gain.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CostAssociatedWithLongTermLoans" xlink:to="ello_CostAssociatedWithLongTermLoans_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CostAssociatedWithLongTermLoans_doc" xml:lang="en-US">Cash outflow for cost associated with long term loans during the period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedFromCompensationAsPerAgreement" xlink:to="ello_ProceedFromCompensationAsPerAgreement_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedFromCompensationAsPerAgreement_doc" xml:lang="en-US">Proceed from compensation as per agreement.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedFromIssueOfWarrants" xlink:to="ello_ProceedFromIssueOfWarrants_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedFromIssueOfWarrants_doc" xml:lang="en-US">Proceed from issue of warrants.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfAccountingPolicyForUseOfEstimatesAndJudgmentsExplanatory" xlink:to="ello_DescriptionOfAccountingPolicyForUseOfEstimatesAndJudgmentsExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfAccountingPolicyForUseOfEstimatesAndJudgmentsExplanatory_doc" xml:lang="en-US">Use of estimates and judgments accounting policy.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProjectDevelopmentCosts" xlink:to="ello_ProjectDevelopmentCosts_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProjectDevelopmentCosts_doc" xml:lang="en-US">Project development costs.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_EllomayPumpedStorage2014LtdMember" xlink:to="ello_EllomayPumpedStorage2014LtdMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_EllomayPumpedStorage2014LtdMember_doc" xml:lang="en-US">Ellomay Pumped Storage 2014 Ltd [Member].</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_HeldByTrusteeMember" xlink:to="ello_HeldByTrusteeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_HeldByTrusteeMember_doc" xml:lang="en-US">Held By Trustee [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ShorttermDepositsInterestRate" xlink:to="ello_ShorttermDepositsInterestRate_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ShorttermDepositsInterestRate_doc" xml:lang="en-US">Short term Deposits Interest Rate.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PrepaidExpensesAssociatedWithLongTermLoans" xlink:to="ello_PrepaidExpensesAssociatedWithLongTermLoans_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PrepaidExpensesAssociatedWithLongTermLoans_doc" xml:lang="en-US">Prepaid expenses associated with long term loans.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AdditionalCompensationAggregateAmount" xlink:to="ello_AdditionalCompensationAggregateAmount_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AdditionalCompensationAggregateAmount_doc" xml:lang="en-US">Additional compensation aggregate amount.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_NumberOfInstallments" xlink:to="ello_NumberOfInstallments_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_NumberOfInstallments_doc" xml:lang="en-US">Number of installments.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompensationPaid" xlink:to="ello_CompensationPaid_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CompensationPaid_doc" xml:lang="en-US">Compensation paid.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompensationReceived" xlink:to="ello_CompensationReceived_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CompensationReceived_doc" xml:lang="en-US">Compensation received.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PercentageOfAcquireCooperativesHoldings" xlink:to="ello_PercentageOfAcquireCooperativesHoldings_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PercentageOfAcquireCooperativesHoldings_doc" xml:lang="en-US">Percentage of acquire cooperatives holdings.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_AmountOfAcquisition" xlink:to="ello_AmountOfAcquisition_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_AmountOfAcquisition_doc" xml:lang="en-US">Amount of acquisition.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RemainingAmountOfAcquisition" xlink:to="ello_RemainingAmountOfAcquisition_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RemainingAmountOfAcquisition_doc" xml:lang="en-US">Remaining amount of Acquisition.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LicencePeriod" xlink:to="ello_LicencePeriod_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LicencePeriod_doc" xml:lang="en-US">Licence period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ObligatedPostBondForDamages" xlink:to="ello_ObligatedPostBondForDamages_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ObligatedPostBondForDamages_doc" xml:lang="en-US">Obligated post bond for damages.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ClaimsDamages" xlink:to="ello_ClaimsDamages_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ClaimsDamages_doc" xml:lang="en-US">Claims damages.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CommitmentToPayOrderedByCourt" xlink:to="ello_CommitmentToPayOrderedByCourt_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CommitmentToPayOrderedByCourt_doc" xml:lang="en-US">Commitment to pay ordered by court.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LandAssessmentLiability" xlink:to="ello_LandAssessmentLiability_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LandAssessmentLiability_doc" xml:lang="en-US">Land assessment liability.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ConsentFeeChargingPaymentLimit" xlink:to="ello_ConsentFeeChargingPaymentLimit_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ConsentFeeChargingPaymentLimit_doc" xml:lang="en-US">Consent fee charging payment limit.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExpiryDateOfPriorConditionalLicense" xlink:to="ello_ExpiryDateOfPriorConditionalLicense_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ExpiryDateOfPriorConditionalLicense_doc" xml:lang="en-US">Expiry date of prior conditional license.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriLoanMember" xlink:to="ello_DoriLoanMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoriLoanMember_doc" xml:lang="en-US">Dori loan [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialPowerSwapMember" xlink:to="ello_FinancialPowerSwapMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinancialPowerSwapMember_doc" xml:lang="en-US">Financial power swap [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IncomeReceivableInConnectionWithTheARZElectricityPSPMember" xlink:to="ello_IncomeReceivableInConnectionWithTheARZElectricityPSPMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IncomeReceivableInConnectionWithTheARZElectricityPSPMember_doc" xml:lang="en-US">Income Receivable In Connection With The ARZ Electricity PSP [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_OptionToAcquireAdditionalShares" xlink:to="ello_OptionToAcquireAdditionalShares_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_OptionToAcquireAdditionalShares_doc" xml:lang="en-US">Option to acquire additional shares.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencySwap" xlink:to="ello_CurrencySwap_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencySwap_doc" xml:lang="en-US">Currency swap.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriLoan" xlink:to="ello_DoriLoan_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoriLoan_doc" xml:lang="en-US">Dori Energy loan.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinancialPowerSwap" xlink:to="ello_FinancialPowerSwap_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_FinancialPowerSwap_doc" xml:lang="en-US">Financial power swap.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CapitalGainLoss" xlink:to="ello_CapitalGainLoss_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CapitalGainLoss_doc" xml:lang="en-US">Capital Gain Loss.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaidBankLoan" xlink:to="ello_RepaidBankLoan_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RepaidBankLoan_doc" xml:lang="en-US">Repaid bank loan.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfApplicableMargin" xlink:to="ello_DescriptionOfApplicableMargin_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfApplicableMargin_doc" xml:lang="en-US">Description of applicable margin.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DrawnDownOfLoan" xlink:to="ello_DrawnDownOfLoan_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DrawnDownOfLoan_doc" xml:lang="en-US">Drawn down amount of loan.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DescriptionOfDebtEquityRatioAndHoldings" xlink:to="ello_DescriptionOfDebtEquityRatioAndHoldings_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DescriptionOfDebtEquityRatioAndHoldings_doc" xml:lang="en-US">Description of Debt Equity ratio and holdings.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IdentityOfBorrower" xlink:to="ello_IdentityOfBorrower_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IdentityOfBorrower_doc" xml:lang="en-US">Identity of borrower.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LoanDate" xlink:to="ello_LoanDate_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LoanDate_doc" xml:lang="en-US">Loan date.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PaymentDateOfPrincipal" xlink:to="ello_PaymentDateOfPrincipal_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PaymentDateOfPrincipal_doc" xml:lang="en-US">Payment date of principal.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromIssuingSharesAndWarrants" xlink:to="ello_ProceedsFromIssuingSharesAndWarrants_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedsFromIssuingSharesAndWarrants_doc" xml:lang="en-US">Proceeds from private placement.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_LicenseExpired" xlink:to="ello_LicenseExpired_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_LicenseExpired_doc" xml:lang="en-US">License expiration date.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_RepaymentGrantOfLoanToOthers" xlink:to="ello_RepaymentGrantOfLoanToOthers_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_RepaymentGrantOfLoanToOthers_doc" xml:lang="en-US">Repayment of loan to others.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory" xlink:to="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisclosureOfDetailedInformationAboutInvestmentInPhotovoltaicPlantsExplanatory_doc" xml:lang="en-US">The disclosure of detailed information about investment in photovoltaic plants.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrentPortionOfLongtermBankBorrowings" xlink:to="ello_CurrentPortionOfLongtermBankBorrowings_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrentPortionOfLongtermBankBorrowings_doc" xml:lang="en-US">The current portion of non-current bank borrowings.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencySwap1Member" xlink:to="ello_CurrencySwap1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CurrencySwap1Member_doc" xml:lang="en-US">Currency swap [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DoriEnergyLoanMember" xlink:to="ello_DoriEnergyLoanMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DoriEnergyLoanMember_doc" xml:lang="en-US">Dori Energy Loan [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CompensationAsPerAgreementWithErezElectricityLtd." xlink:to="ello_CompensationAsPerAgreementWithErezElectricityLtd._doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_CompensationAsPerAgreementWithErezElectricityLtd._doc" xml:lang="en-US">Compensation as per agreement with Erez Electricity Ltd.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProceedsFromReceivableFromConcessionProject" xlink:to="ello_ProceedsFromReceivableFromConcessionProject_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ProceedsFromReceivableFromConcessionProject_doc" xml:lang="en-US">Proceeds from receivable from concession project.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ExerciseOfFirstOptionToAcquireAdditionalShares" xlink:to="ello_ExerciseOfFirstOptionToAcquireAdditionalShares_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_ExerciseOfFirstOptionToAcquireAdditionalShares_doc" xml:lang="en-US">Exercise of first option to acquire additional shares.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_IsraeliElectricityAuthorityMember" xlink:to="ello_IsraeliElectricityAuthorityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_IsraeliElectricityAuthorityMember_doc" xml:lang="en-US">Israeli Electricity Authority [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TariffPricePerKilowat" xlink:to="ello_TariffPricePerKilowat_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_TariffPricePerKilowat_doc" xml:lang="en-US">Tariff price per kilowat.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PeriodOfTariff" xlink:to="ello_PeriodOfTariff_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PeriodOfTariff_doc" xml:lang="en-US">Period of tariff in term of years.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PeriodOfTender" xlink:to="ello_PeriodOfTender_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PeriodOfTender_doc" xml:lang="en-US">Period of tender in term of months.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PerformanceGuarantee" xlink:to="ello_PerformanceGuarantee_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PerformanceGuarantee_doc" xml:lang="en-US">Amount of performance guarantee during the period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_PropertyPlantAndEquipmentDepreciation" xlink:to="ello_PropertyPlantAndEquipmentDepreciation_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_PropertyPlantAndEquipmentDepreciation_doc" xml:lang="en-US">Property, plant, and equipment, depreciation.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_DisposalsPropertyPlantAndEquipmentDepreciation" xlink:to="ello_DisposalsPropertyPlantAndEquipmentDepreciation_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ello_DisposalsPropertyPlantAndEquipmentDepreciation_doc" xml:lang="en-US">Disposals of property, plant and equipment, depreciation.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_CurrencySwap1Member" xlink:to="ello_CurrencySwap1Member_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_CurrencySwap1Member_3_lbl" xml:lang="en-US">CurrencySwap1Member</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAssets_2_lbl" xml:lang="en-US">Current assets [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers" xlink:to="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentReceivablesFromContractsWithCustomers_2_lbl" xml:lang="en-US">Non-current receivables from contracts with customers</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssets_2_lbl" xml:lang="en-US">Non-current assets [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Assets_3_lbl" xml:lang="en-US">Assets [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLiabilities_2_lbl" xml:lang="en-US">Current liabilities [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_2_lbl" xml:lang="en-US">Non-current portion of non-current notes and debentures issued</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilities_2_lbl" xml:lang="en-US">Deferred tax liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_NoncurrentDerivativeFinancialLiabilities_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities_3_lbl" xml:lang="en-US">Non-current derivative financial liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentLiabilities_2_lbl" xml:lang="en-US">Non-current liabilities [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Liabilities_2_lbl" xml:lang="en-US">Liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasuryShares" xlink:to="ifrs-full_TreasuryShares_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TreasuryShares_2_lbl" xml:lang="en-US">Treasury shares</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_TransactionReserveWithNoncontrollingInterests" xlink:to="ello_TransactionReserveWithNoncontrollingInterests_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_TransactionReserveWithNoncontrollingInterests_3_lbl" xml:lang="en-US">TransactionReserveWithNoncontrollingInterests</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_2_lbl" xml:lang="en-US">Equity attributable to owners of parent</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Equity_4_lbl" xml:lang="en-US">Equity [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAndLiabilities_2_lbl" xml:lang="en-US">Equity and liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_OperatingExpense_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OperatingExpense_2_lbl" xml:lang="en-US">Operating expense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_2_lbl" xml:lang="en-US">Depreciation and amortisation expense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_ProjectDevelopmentCosts" xlink:to="ello_ProjectDevelopmentCosts_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_ProjectDevelopmentCosts_3_lbl" xml:lang="en-US">ProjectDevelopmentCosts</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense_2_lbl" xml:lang="en-US">Selling, general and administrative expense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceCosts_3_lbl" xml:lang="en-US">Finance costs</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ello_FinanceIncomeExpenseNet" xlink:to="ello_FinanceIncomeExpenseNet_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ello_FinanceIncomeExpenseNet_4_lbl" xml:lang="en-US">Statement Table</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_2_lbl" xml:lang="en-US">Tax expense (income)</link:label>
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