Onde sells 23.1-MW Polish solar trio to German buyer

• Onde SA sells 23.1-MWp solar portfolio to SachsenEnergie for PLN 19 million, with potential for additional payment. Vice-president Marzec optimistic about renewable energy market.

Polish company Onde SA has sold a 23.1-MWp portfolio of solar projects to German municipal utility SachsenEnergie. The portfolio includes two projects under construction totaling 18.7 MWp and one in the development phase of 4.4 MWp. The assets were sold for PLN 19 million, with a potential additional payment of up to PLN 5 million once the projects are operational.

As part of the deal, Onde will continue to work on the under-development project if it is ready for construction within 12 months. The company's vice-president, Marek Marzec, expressed confidence in the renewable energy market in Poland and the EU, citing the allocation of billions of euros for energy transformation programs.

In a separate transaction in March, Onde sold its 50% stake in a 37.4-MW wind farm project in Poland to a unit of Polish utility Energa.

What factors contributed to Onde SA's successful sale of solar projects to SachsenEnergie?

Factors contributing to Onde SA's successful sale of solar projects to SachsenEnergie:

1. Strong track record: Onde SA's successful track record in developing and constructing solar projects likely played a key role in attracting SachsenEnergie as a buyer.
2. Market confidence: Onde SA's vice-president's confidence in the renewable energy market in Poland and the EU, as well as the allocation of billions of euros for energy transformation programs, likely reassured SachsenEnergie of the long-term viability of the projects.
3. Potential for additional payment: The potential for an additional payment of up to PLN 5 million once the projects are operational likely incentivized SachsenEnergie to move forward with the purchase.
4. Continued involvement: Onde SA's commitment to continue working on the under-development project if it is ready for construction within 12 months likely provided SachsenEnergie with assurance of a smooth transition and completion of the projects.
5. Strategic partnerships: Onde SA's previous transaction with a unit of Polish utility Energa in March likely demonstrated the company's ability to form strategic partnerships, further enhancing its credibility in the market.