Origis Energy Secures Project Financing for 75 MW Solar Project

ONDE, a renewable energy contractor involved in the development of solar and wind projects, sold a 23.1 MW portfolio of three solar projects for PLN 19 million (~$4.8 million) to German municipal utility SachsenEnergie.

Out of the three solar projects sold, two projects are currently under construction with a total capacity of 18.7 MW, and a solar project is under development with a potential capacity of 4.4 MW. The Company will also receive an additional remuneration not exceeding PLN 5 million (~$1.26 million) after the concession for power generation is granted to facilities currently under construction and when the photovoltaic project is currently under development reaches the status of ready-to-build.

Additionally, SachsenEnergie will reimburse ONDE for all loans granted to special purpose vehicles conducting those projects and repay the investment loan.

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

“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.”

According to Mercom’s Annual and Q4 2023 Solar Funding and M&A report, 231 large-scale solar project acquisitions in 2023 compared to 268 acquisitions in 2022. In 2023, almost 45.4 GW of solar projects were acquired 2023, compared to 66 GW in 2022, a 31% decline YoY.

Standard Solar, a company specializing in developing and financing solar energy systems, recently announced the acquisition of an 18.5 MW solar project portfolio in Vermont from MHG Solar, a solar project developer.