ONDE commercialised the first farm from its developer portfolio

ONDE will gain about PLN 75 million from a sale of the “Cyranka” photovoltaic farm, i.e., the first developer project executed in the develop, build, and sale mode. The Company intends to use those resources to execute new power plants from its portfolio.

“Cyranka” is a project of the total capacity of 18 MW consisting of two photovoltaic farms Giżycko 1 and Giżycko 2. The system was purchased by ENGIE Zielona Energia, a member of the global corporation ENGIE. The contract value amounts to about PLN 75 million. ENGIE Zielona Energia operations in Poland include power generation from renewable sources, manage a portfolio of RES investments, and trade in electrical energy. In Poland, the company owns and operates 4 wind farms of the total capacity of 138 MW and 69 small photovoltaic farms of the total capacity of 63 MW. This year, the company continues to expand its portfolio through construction of five photovoltaic farms. It should be noted here that “Cyranka” is a fully operational project, commissioned in 2023 and conducting licensed operations related to sale of electricity. The project will immediately contribute to development of ENGIE Zielona Energia activities in the RES market.

‘It is a very important event for us, and a cause of our great satisfaction, as it is our début as a developer that ended with successful commercialisation. What is equally important, it is the first important step in implementation of the Company strategy, which is to build ONDE position in the market, and thus the value for shareholders.

says Paweł Średniawa, President of ONDE SA. ‘We are really proud of the fact that the first project executed by ONDE in this formula was purchased by Engie, one of the leading entities in the renewable energy in the world. We hope that this transaction will continue our prospective and long-term cooperation, which we started many years ago by constructing wind farms for the Engie concern.

The strategic objective of ONDE is to maintain the position of the leading contractor of RES systems in Poland and development of services of this type in selected European markets, while building the second, equally leg for our business, in the form of development of RES systems in the develop-build-sell mode. Currently, ONDE investment pipeline has a potential of 769 MW, of which projects of the capacity of 209 MW already have a building permit.

‘We are convinced that the gathered experience will let us to successfully develop and commercialise further our portfolio of RES projects. The capital injection that we received from the sale of “Cyranka” will soon allow us to start construction of new farms. We hope that in the future, profits from the developer operations will form a significant contribution to our performance’, adds Paweł Średniawa.