Onde Sells Solar Debut to Engie

• Polish general contractor Onde SA has sold its first self-developed solar project, Cyranka, for PLN 75 million to Engie Zielona Energia. The 18 MW Gizycko 1 & 2 solar farms commenced operations this year, with Engie now owning & operating 4 wind farms & 69 small PV parks with 63 MW.

Onde SA, a Polish renewables-focused general contractor, has sold its first self-developed solar project, Cyranka, to Engie Zielona Energia, the local green energy subsidiary of France’s Engie SA, for about PLN 75 million. The two photovoltaic (PV) farms, Gizycko 1 and Gizycko 2, have a combined capacity of 18 MW and commenced operations earlier this year. Onde SA plans to use the sale proceeds to support the delivery of more solar projects and Engie Zielona Energia now owns and operates four wind farms and 69 small PV parks with a combined capacity of 63 MW.

What Are Onde SA's Plans for Sale Proceeds?

• Onde SA plans to use the sale proceeds to expand its presence in the Polish renewable energy market.
• The company intends to use the funds for the development of new solar projects.
• The funds will also be used to acquire and develop existing renewable energy projects in Poland.
• Onde SA also intends to use the sale proceeds to strengthen its position in the market and better diversify its portfolio.
• The company may also use the sale proceeds to invest in research and development in order to improve energy efficiency and reduce the cost of renewable energy production.