Poland's Columbus offering 102.5 MW of solar farms to Engie unit

• Polish photovoltaics (PV) installer Columbus Energy SA said it has actually consented to offer 100% of its holding in solar (PV) projects with a complete ability of 102.5 MW to Engie Zielona Energia for over EUR 97 million (USD 103m).

Krakow-based Columbus kept in mind in a press release on Friday that the contract with the unit of French utility team Engie SA (EPA: ENGI) covers projects at phases of conclusion, appointing or operation without defining more details or their location.

The first tranche of the deal entails the procurement of stakes in special purpose vehicles (SPVs) with projects completing 32.8 MW. The following handover is prepared for 2023.

The overall rate will certainly range from EUR 97.6 million to EUR 110 million, relying on the operating results of the farms as well as will be settled by the end of 2026.

The earnings from the sale will go in the direction of paying off an overall of PLN 180 million (USD 41m/EUR 38.7 m) in project money, the vendor included. The remaining funds will certainly be used to minimize the debt owed to shareholder DC24.

The arrangements with Engie Zielona Energia began in June and a binding offer was checked in November, Columbus claimed previously.