ONDE sells RES projects to ORLEN Group and secures contracts worth nearly PLN 443 million

ONDE, together with Neo Energy Group, is selling renewable energy (RES) projects with a total capacity of approximately 216 MW to ORLEN New Power from the ORLEN Group. ONDE will receive PLN 38.6 million for its 50 percent stake. Concurrently, the company has signed construction and maintenance contracts valued at approximately PLN 442.8 million net.

This is ONDE’s largest transaction in the DSB (develop-sell-build) business model —combining the sale of RES projects with the company’s continued participation in their construction and servicing—and one of the largest transactions of its kind in Poland. The buyer is ORLEN New Power, a subsidiary of the ORLEN Group responsible for the development and management of onshore renewable energy assets.

The sale of the projects is only one component of the transaction. ONDE will also be responsible for executing the construction work—under a BoP (Balance of Plant) contract for the wind project and an EPC (Engineering, Procurement, Construction) contract for the photovoltaic project—followed by a two-year maintenance service for both installations. The total net value of these orders is PLN 442.8 million. In practice, this means ONDE is monetizing the value generated during the development stage while maintaining a leading role in the project execution phase. The transaction mechanism also provides for additional remuneration contingent on energy sales revenues during the commissioning phase. The maximum value of this additional remuneration attributable to ONDE could reach PLN 9 million.

Construction work is scheduled to begin in the third quarter of 2026. First grid energization is expected in early 2028, with full commissioning set for the second quarter of 2028. The renewable energy complex, with a total capacity of approximately 216 MW (comprising 180 MW of solar PV and 36 MW of wind power), will produce approximately 315 GWh of electricity annually, covering the needs of nearly 143,000 households. The wind segment will utilize nine Vestas V136 turbines with a capacity of 4 MW each. The project will be developed using a cable pooling model, allowing the wind and solar farms to share grid connection infrastructure, thereby maximizing capacity utilization efficiency.

“This transaction clearly demonstrates how ONDE creates value in the renewable energy market: we develop projects, bring them to ready-to-build status, and remain involved in their execution as a proven general contractor and service partner. This is the practical application of our develop-sell-build model, which allows us to combine development and contracting expertise and translate them into operational scale, revenue predictability, and concrete business results,” says Paweł Przybylski, President of the Management Board of ONDE.

The develop-sell-build model enables ONDE to act simultaneously as a developer, investment partner, general contractor, and maintenance provider for RES assets. Consequently, the company not only monetizes mature projects but also remains at the core of their ongoing execution, driving revenues in the contracting and servicing segments while building a repeatable value creation mechanism.

Following this transaction, ONDE continues to advance a substantial pipeline of RES projects that will support the company’s next stages of growth. Its overall pipeline potential currently stands at approximately 1.85 GW, including 171 MW in projects with secured grid connection conditions—146 MW in photovoltaics and 25 MW in battery energy storage systems (BESS).