DLA Piper advises ONDE and Neo Energy Group on sale of two special purpose vehicles (SPVs) to ORLEN New Power

DLA Piper has advised ONDE and Neo Energy Group on the sale of 100% of the shares in two special purpose vehicles (SPVs) holding rights to develop a hybrid renewable energy project to ORLEN New Power.

The project will be located in the Kazimierz Biskupi municipality in the Greater Poland region and will combine a photovoltaic farm and a wind farm with a total installed capacity of approximately 216 MW. It will be one of the largest renewable energy clusters in Poland, capable of supplying electricity to more than 140,000 households. The transaction combines the sale of renewable energy projects with ONDE's continued involvement in their construction and maintenance. ONDE will remain responsible for the construction works and will provide two years of operation and maintenance (O&M) services for both installations under contracts with a combined value of PLN442.8 million. This is ONDE's largest transaction to date under the Develop-Sell-Build (DSB) model and one of the largest transactions of its kind in Poland.

ONDE, part of the ERBUD Group, is one of Poland's leading contractors for renewable energy infrastructure and a renewable energy project developer, delivering investments under the Develop-Sell-Build (DSB) model. Neo Energy Group is Poland's largest developer of renewable energy projects, including wind farms, photovoltaic farms and biogas power plants.

The project also marks a milestone for Neo Energy Group, which, together with ONDE, became the first company in Poland to obtain grid connection conditions for a wind farm under a cable pooling arrangement with the transmission system operator. It also paves the way for more efficient use of shared grid infrastructure by different renewable energy technologies. In addition, Neo Energy Project Management, a dedicated company within the Neo Energy Group, will act as the owner's engineer throughout the construction phase until the entire installation reaches commercial operation.

A multidisciplinary team from DLA Piper's Warsaw office worked on the transaction led by Corporate partner Jakub Domalik-Plakwicz. He was supported by counsels Marek Kłeczek and Michał Bałdowski, associate Konrad Nazarowski. The team also comprised counsel Mateusz Koszel, associate Natan Fischer, and junior associate Michał Bandurski.

Jakub Domalik-Plakwicz, partner, commented: “The trust our clients continue to place in us is the strongest endorsement of the quality of our work. This is an important project supporting Poland's energy transition through the involvement of Polish companies and the strengthening of domestic capabilities in modern energy infrastructure.”