Airengy Tech Enters Polish Market with €23.7 Million Poland solar project Acquisition
In a significant strategic move, Airengy Tech Ltd. has announced its expansion into the European renewable energy sector with the acquisition of six solar projects in Poland. The deal, valued at €23.7 million, marks the company’s first venture into owning income-generating energy assets and establishes a strong foothold in the promising Polish market.
The Deal in Detail for the Poland solar project
The acquisition encompasses a portfolio of six solar projects that will total approximately 34 MW in capacity. This strategic purchase includes projects at various stages of completion—some are already operational and generating revenue, while others are in advanced construction or late-stage development.
To optimize cash flow and mitigate risk, Airengy has structured the acquisition to occur in phases through 2027. Each project will be officially acquired as it reaches commercial operation, ensuring an immediate contribution to the company’s revenue stream. This phased approach demonstrates a prudent and financially sound strategy for entering a new market.
Financial Projections and Funding for the Poland solar project
The financial structure of the deal underscores its potential. The assets are valued at approximately €690,000 per megawatt. Over their lifetime, the projects are projected to generate substantial returns, with estimated revenues between €97 million and €120 million and an anticipated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) ranging from €75 million to €84 million.
To facilitate the initial phase of the acquisition, Airengy has successfully secured €9.3 million in supplementary financing from an Israeli non-bank institution. This funding will serve as a bridge to long-term senior debt financing, providing the necessary capital to move forward with the initial project takeovers.
A Strategic Leap into Europe with the Poland solar project
This entry into Poland is a calculated step in Airengy Tech’s broader European expansion strategy. The company is leveraging its management team’s existing experience and expertise within the Polish market to ensure a smooth and successful integration of these new assets.
This acquisition is just the beginning. Airengy has signaled its intent to further expand its portfolio across the continent, with a focus on acquiring solar, energy storage, and wind projects that are either ready-to-build or in the final stages of development. This move positions Airengy Tech not just as a technology provider, but as a significant owner and operator of renewable energy assets, contributing directly to Europe’s green energy transition.
