ONDE purchases photovoltaic projects

The stock-exchange listed company increased from 50 to 100 percent its involvement in three PV projects of a the total power of 25.2 MW.

As a part of this transaction, shares in two special purpose vehicles that will construct photovoltaic power plants in the Lubuskie Voivodeship, were purchased. The projects have already received connection conditions and building permits. A conclusion of an agreement is a continuation of a preliminary agreement concluded earlier, on a basis of which ONDE purchased first 50 percent of shares in those companies.

‘It is yet another transaction in recent weeks under which we can take over the sole ownership to projects at the advanced development stage. This way, in fact, we expand our exposure to those projects that are nearest to starting construction and commercialisation’ says Marta Masternak, Management Board Representative for purchase and development of RES projects.

At the moment, ONDE has a secured bank of projects of a potential exceeding 800 MW, of which over half have already received connection conditions.

The company Management Board estimates that changes in the market environment will soon positively influence prosperity in the renewable energy sources segment.

‘We see a strong will of decision-makers to amend the law and thus to facilitate RES investments, as well as an increasing awareness of a need for network expansion and modernisation. Previously, we could worry about lack of funds for this purpose, but following adoption of KPO, significant resources should be allocated to the energy transition as a strategic objective of the State’ sums up Piotr Gutowski, ONDE Vice-President.