ONDE successfully commercialises the “Serby” PV project

The listed company finalised the transaction involving sale of a design for 112 MW “Serby” photovoltaic farm – one of the largest PV projects in Poland. At the same time, it acquired a contract for general contractor services for this power plant, worth ca. PLN 240 million. The employer is Energa Green Development (EGD) from the Energa Group, belonging to the ORLEN Group.

Under the signed agreement, ONDE sold its 50 percent of shares to a special purpose vehicle that developed the 112 MW “Serby” photovoltaic project. The transaction price for all shares was about PLN 48 million. Furthermore, ONDE secured for itself a contract for general contractor services for this facility, of PLN 240 million net. The scope of works covers comprehensive construction and electrical works, together with delivery of PV modules. ONDE also contracted provision of technical services for the project after its start-up, as a part of O&M activities. The planned date for works completion is 30 June 2026.

‘This contract perfectly fits into our business model. As our Group combines developer, designing, execution, and maintenance competencies, we can offer to our customers a comprehensive develop-sell-build (DSB) service. This also allows us to maximise profitability of our developer projects and expand our order portfolio. In recent months, we signed five contracts for sale and execution of designs from our portfolio under the DSB format, of the value exceeding half a billion zloty – this is how our unique experience pays off. This also proves that Investors value this model for cooperation and that they perceive us as partners of first choice’, says Paweł Przybylski, ONDE President.

The sale of the “Serby” project represents yet another chapter in ONDE’s cooperation with EGD. Nearly one year ago, a company from the Energa Group purchased a design for 37.4 MW “Szybowice” wind power plant. Furthermore, Energa Green Development ordered at ONDE performance of construction and electrical works worth ca. PLN 105 million. EGD is one of the most active Polish investors in RES. By 2035, the ORLEN Group, Energa owner, intends to achieve the increase in RES installed power to 12.8 GW, developing wind power generation and photovoltaics.

Following today’s transaction, ONDE has in its developer portfolio RES projects at the ready-to-build phase of the potential of ca. 300 MW. The Company plans to find a target investor for about two thirds of that volume already this year. 

‘The sale of these projects in the DSB format will provide us with financial resources that we can use for successive projects. Currently, our portfolio has a potential of ca. 1.3 GW, and we want to increase it to at least 2 GW by the end of this year. We can use some of these resources also to construct systems for our internal needs, as the energy producer. We continue to analyse the market and wish to maintain complete flexibility, to use emerging opportunities to the greatest extent’, explains Marek Marzec, ONDE Vice-President, responsible for the developer segment.

We would like to note that on 12 March 2025 the Company started up the first RES system that will remain in the Group. The “Park Lewałd” photovoltaic park has the potential of 32 MW, and the sale of energy generated there is to bring ONDE EBITDA of ca. PLN 10 million a year. Additionally, the company hybridises this project, using opportunities offered by cable pooling. In consequence, “Park Lewałd” will probably gain additional 24 MW of wind power and an energy storage facility. ONDE conducts a similar process for the majority of its projects. This way, in one year the Company expanded its portfolio with over 330 MW of wind power projects, and this also significantly improved its value.