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The growing interest in renewable energy sources in Poland is visible in the financial results of companies operating in the wind farm and photovoltaic sector. A case in point is Onde, a company operating within the Erbud Group, which is expected to double its revenues in 2021 and wants to allocate around PLN 50 million to RES projects.
As announced by Erbud S.A. CEO Dariusz Grzeszczak, in the first half of 2021, Onde earned three times more than in the previous year, and in the whole year, the company is expected to double its revenues. Despite the increased revenue, Onde has improved profitability.
In the second quarter of 2021, Onde’s consolidated sales revenues amounted to PLN 357.35m, compared to PLN 113.07m in 2020. In the entire first half of this year, they amounted to PLN 586.99m, while a year earlier, they reached PLN 179.42m. At the end of June 2021, Onde Group’s order portfolio was worth PLN 913m.
According to Paweł Średniawa, Onde’s CEO, the company expects to achieve the planned revenues this year and enter 2022 with a portfolio of significant value. He adds that future investments will be in projects for SPVs and the company will continue the acquisition process. In the first half of the year, Onde bought 15 SPVs owning projects in the RES segment at various stages of development for PLN 60m. Soon, the company will announce the acquisition of further RES projects, and it has allocated approximately PLN 50m for this purpose. This strategy is expected to help realise and commercialise projects of approximately 200 MW.
Onde made its debut on the Warsaw Stock Exchange in July 2021, and its main shareholder is Erbud, which owns almost 61 percent of shares after the public offering. Onde is an infrastructure contractor operating in both the renewable energy sector, where it focuses on wind farms and photovoltaics, and the road and engineering construction segment.