FAMUR Group's Projekt Solartechnik (PST) will raise a total of up to PLN 750 million in exchange for a portfolio of 184 MW of completed solar projects. The buyer is Spoleto, part of the international independent power generation business Alternus Energy Group (Alternus). This is one of the largest deals by value in the history of the PV industry in the entire CEE region.
The agreement signed today with Alternus Energy Group is the first sale of photovoltaic power stations by PST since its inclusion into the FAMUR Group structures. It comprises the sale of 100% of the shares in 32 special purpose vehicles holding photovoltaic farm projects with a total capacity of 184 MW at various stages of development and the construction of solar power stations based on these projects. PST will also provide aftersales maintenance services for the photovoltaic farms involved in the transaction.
The FAMUR Group has signed a letter of intent with the EDF Renewables to confirm the interest of both parties in the possible cooperation within renewable energy sources (RES) area. The companies are considering undertaking joint activities in the field of development and implementation of projects in Poland, including but not limited to wind energy. The signing of the document is another step towards diversification of the FAMUR Group's business activities in line with the new strategic directions adopted in May 2021.
The award granted for the green transformation of the FAMUR Group, initiated by the announcement of the company's new strategic directions in May 2021, was presented during the EURO Power and OZE Power conferences. The “Leaders in Energy" initiative aims to recognize projects implemented with innovative solutions and with a management strategy that translates into energy efficiency.
Companies belonging to the FAMUR Group concluded a project finance loan agreement with a consortium of banks for the financing and refinancing of the incurred expenses related to the construction of photovoltaic farms. The campaign will include 140 photovoltaic farm projects with a total capacity of 134 MW. The limits granted to the companies amount to PLN 428 million.
This is another step in the Group's transformation into a holding company investing in the green transition and achieving 70% of its revenues from sources not related to thermal coal by 2024.
The Famur Group, together with Projekt Solartechnik, a Group company, announces that it has won all 34 submitted photovoltaic projects with a total capacity of almost 58 MW in the December auction.
It’s an organisation of the world's leading wind turbine manufacturers and suppliers.
Membership allow us to have a permanent and full-scale presence in the dynamically growing wind industry, giving us a chance to be, among other things, a full-fledged sub-supplier of such leading manufacturers as Vestas, Siemens Gamesa or GE.
On 10 September of the current year, a programme agreement has been concluded between FAMUR and Santander Bank Polska, Bank PKO S.A. and Dom Maklerski BOŚ, which enables the company to decide on multiple bond issues, including the so-called "green" bonds under the Bond Issue Programme, thus taking another step towards green transformation and making a contribution towards sustainable development. The bond issue is unlimited and will not exceed the maximum programme amount of PLN 1 billion.
The revenue of the FAMUR Group in the second quarter of 2021 amounted to PLN 244 million, achieving an increase of 9% compared to the same period last year. EBITDA amounted to PLN 70 million and the EBITDA margin stood at 29% of revenue. The generated net profit reached PLN 22 million. On the other hand, revenue for the first half of 2021 amounted to PLN 518 million, down by 9% compared to the corresponding period last year. Net profit amounted to PLN 61 million (down by PLN 22 million vs. 1H 2020), EBITDA PLN 161 million (down by PLN 57 million vs. 1H 2020).
The mining machinery manufacturer modifies strategic directions to take advantage of the opportunities and benefits of the global transition to low-carbon economies. The Group wants to become a leader of green transformation among the Polish mining companies. The first step is to enter the photovoltaic sector based on the combined resources and competencies of Projekt Solartechnik (P+S), TDJ and FAMUR Group. The strategic decision to start building a holding company that invests in green transformation is expected to allow the FAMUR Group to achieve a minimum of 70 percent of non-steam coal revenues by 2024.