FAMUR increases its involvement in the Solartechnik Project

On July 1, 2022, an annex was signed to the Investment Agreement concluded with Mr. Maciej Marcjanik and FAMUR SA, on the basis of which the FAMUR Group will acquire a block of approximately 14% of shares in the share capital of Projekt Solartechnik SA (PST), thus becoming approximately 52% a shareholder in the target PST structure. The transaction value is PLN 117 million. At the same time, an agreement for the acquisition of shares by FAMUR SA was concluded.

Increasing involvement in PST is another stage in the implementation of the FAMUR Group’s strategy, which involves entering into projects in the area of renewable energy sources (RES). Since May 2021, Famur has been implementing a strategy of diversifying its business activities, the aim of which is to transform the company into a holding investing in green transformation and achieve approx. 70% of revenues from sources not related to energy coal by 2024.

– We are consistently implementing the strategy of transforming the FAMUR Group into a holding that actively uses the opportunities resulting from the energy transformation of Poland and the global trend of transition to low-carbon economies. For over a year, we have been building a strong position of the Group in the renewable energy sector by engaging in projects in the area of large-scale photovoltaics. We would like to  take advantage of the growing tendencies on the PV market – by strengthening our position in the country and developing photovoltaic projects on foreign markets. The contract for the sale of 184MW solar projects for Alternus Energy Group, concluded in June this year, is a confirmation that, together with PST, we are consistently building our market position. – says Mirosław Bendzera, President of the Management Board of FAMUR SA. – Increasing participation in PST, combined with the planned change of the organizational structure, will allow us to further, effectively and dynamically scale the business in the area of solar projects – he adds.

As a result of the signed agreement and subsequent changes in the organizational structure of PST, the target shareholding structure of this company is as follows: FAMUR approx. 52%, TDJ S.A. approx. 13% and Mr. Maciej Marcjanik with a related entity – approx. 35%.

 The implementation of ambitious assumptions and very high growth dynamics require work on continuous improvement of the business model. We have been developing our operations in Poland for over a year and at the same time we are preparing for expansion on foreign markets. This is the next step in implementing our strategy and preparing the PST group for further dynamic scaling of the business – says Maciej Marcjanik, president of the management board and co-owner of Projekt Solartechnik..

The FAMUR Group is consistently building a strong position in the field of renewable energy sources (RES) and other promising industries supporting green transformation. The first step in implementing the new strategy was involvement in the large-scale photovoltaic sector through the acquisition of PST, carried out jointly with TDJ. Currently, the FAMUR Group concentrates projects with a total capacity of approx. 1.9 GW, of which 134 MW is under construction and another 200 MW is being prepared for implementation.

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