Polish renewables-focused general contractor Onde SA (WSE:OND) said on Friday it has unloaded a 23.1-MWp portfolio of solar projects at home to German municipal utility SachsenEnergie.

The bundle includes two schemes totalling 18.7 MWp that are currently under construction and another one of 4.4 MWp in the development phase.

The assets were sold for a total consideration of PLN 19 million (USD 4.8m/EUR 4.4m). In addition to this sum, the vendor will receive up to PLN 5 million once the plants receive their electricity generation licences or receive the shovel-ready status, depending on the case. The German buyer will also repay all loans extended by Onde to the special purpose vehicle behind the projects and pay down the investment loan.

Under the arrangement, Onde has been hired to install the under-development project, if it becomes ready-for-construction within 12 months of the contract signing.

“EU countries intend to allocate billions of euros for energy transformation programs, so we are convinced that the market for renewable energy projects in Poland and the entire EU will develop dynamically and we intend to be an active participant in it,” said Marek Marzec, vice-president of Onde.

Earlier in March, Onde sold its 50% stake in a 37.4-MW wind farm project at home to a unit of Polish utility Energa.