ONDE sold PV projects of capacity of 23.1 MWp

ONDE will be paid PLN 19 million for three photovoltaic farms being under construction or development. They were purchased by SachsenEnergie AG. Additionally, the Company secured for itself a contract as a contractor for the currently developed project.

ONDE sells two PV farms currently being under construction, of the total installed capacity of 18.7 MWp, and a photovoltaic farm project being under the development, of the potential capacity of 4.4 MWp. The basic price of this transaction amounts to ca. PLN 19 million. The Company will also receive an additional remuneration not exceeding ca. PLN 5 million after the concession for power generation is granted to facilities being currently under construction and when the photovoltaic project being currently under development reaches the status of ready to build.

Additionally, the buyer will reimburse to ONDE S.A. all loans granted to special purpose vehicles conducting those projects, as well as will repay the investment loan.

Simultaneously, ONDE secured for itself the order for construction of the farm sold under this transaction, begin currently under development (4.4 MW), provided it achieves the ready to build status within 12 months of the date of signing the agreement.

SachsenEnergie AG, the buyer of the projects, is the largest municipal enterprise in east Germany, providing modern solutions for supply of electricity, gas, heat, water, broadband Internet/telecommunication, electric mobility, and smart services.

“It is our first transaction with a German public entity. We are very happy that an entity from such a valuable and renowned market has joined the pool of our customers to whom we offer projects managed as a part of our development activities”, says Marek Marzec, ONDE Vice-President. “The EU countries intend to allocate billions of euros to projects related to energy transition, so we are convinced that the RES projects market in Poland and the entire EU will develop robustly, and we want to be its active participant”.

We should note that at the beginning of March 2024 ONDE sold its shares in the 37.4 megawatt “Szybowice” Wind Farm to the Orlen Group, with a simultaneous guarantee of being the contractor for this facility. 

“ This is strategy that we pursue consistently and successfully – intense trading in projects, as quick as possible achievement of the developer margin, and being awarded contracts as a contractor for sold projects”, says Paweł Średniawa, ONDE SA President.  “Currently, we are analysing several targets for acquisition. The task we set for ourselves is to obtain in the coming months projects at the advanced stage of development for fast execution, and those that create an interesting potential for development of hybrid systems. In pursuing of this objective, we will be assisted by the investment loan granted for investments in future RES projects in the amount of nearly PLN 90 million (EUR 20 million).