Onde builds 18 MW PV farm with its IPO proceeds

Onde has started the construction of the first project for its own investment portfolio: Cyranka solar farm in the province of Warmia and Mazury with a potential of 18 MW, the company said. Onde intends to finance the construction of PV Cyranka with its own funds and loans. The farm should be put into operation by the end of 2022; in the same period, the commercialization process is to be completed.

In order to implement the construction of Cyranka, a 100% subsidiary of Onde, concluded a contract with the parent company for the performance of comprehensive electrical power works and necessary construction works for two photovoltaic power plants for an estimated PLN 46 million.

“For our partners, we have so far completed over 200 photovoltaic projects, however, the construction of this project is a unique experience for us, because after many months of preparation, we can finally build an installation for ourselves. Thus, we are starting what we have raised funds for from the IPO and what we promised investors who share our belief in the success of Onde in this field, ”said Vice President Piotr Gutowski.

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