Onde analyzes European markets and prepares pilot offers in Germany

Onde is analyzing European markets for potential orders, including Germany, where it could perform a “pilot” task for itself, said president Paweł Średniawa. The company also wants to continue its activity in Lithuania and hopes for post-election positive changes in Poland regarding renewable energy.

“We are in the phase of offering other orders [in Lithuania] in the wind farm construction segment. We should also think in terms of not only the Lithuanian market, but the European one. […] We also see other markets where we could develop. An additional element that will influence our decisions about the future is that after the elections in Poland, we observe that ‘favorable winds are starting to blow for the wind’. […] We hope that the authorities’ support will be much greater in the future in terms of implementing wind and photovoltaic projects,” said Średniawa during a press conference.

“We are currently in the phase of various types of analyses, examining other markets […] When it comes to offering, sometimes we try to prepare an offer on the German market in order to research the market and see what the prices are like. The offers we are preparing there, just like in the case of the Lithuanian market, are for small values, so that – if we manage to obtain a contract – it will be a pilot contract,” explained the president.

He also referred to the information about the termination of the contract for work on the construction of a wind farm by the Lithuanian Energijos zara from the Enefit Green group. The total combined value of the contracts in question is approximately EUR 26 million net. If the contracts are not performed in full, Onde estimated that it would not receive revenues from the remaining works amounting to a total of approximately EUR 5.61 million.

“The termination of the contract by the investor in Lithuania is completely incomprehensible to us, as is its justification. In our opinion, the reason indicated as a ‘significant breach of contract provisions’ has no legal or factual basis. So far, we have completed approximately 70% of the project, accepted without any complaints or comments from the investor. Of the 14 foundations for wind masts ordered to us, we delivered 10, the investor did not have permission for another four. In renewable energy contracting, this happens because we contract at an early stage, during the project development stage. We can therefore assume that the real reason is the desire to shift the responsibility for the need to interrupt the work onto us. Regardless of the reason, we will pursue our rights, either amicably or in court, always keeping in mind the good of the company and its shareholders. We are sure that the case will end successfully for us; We do not plan to discontinue our activities in Lithuania,” the company says.

Onde is a leading infrastructure contractor for the renewable energy (RES) sector, in particular wind farms and photovoltaic farms in Poland. It also operates in the road construction and engineering sector, implementing investments for road infrastructure in Poland. The company operates within the Erbud Group. Onde debuted on the WSE in 2021; is included in the sWIG80 index.

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