Columbus Energy has sold 17.5 MW of farms as part of another tranche of transactions with ENGIE Green Energy. From the raised capital, Columbus repaid more than PLN 70 million of Green Bonds.
According to the information published in December 2022, Columbus Energy S.A. has completed the next tranche of the sale of its farm project portfolio to ENGIE Zielona Energia Sp. z o.o. This time, the transaction included the sale of 100% of shares in 12 companies implementing photovoltaic farm projects of the total capacity of 17.5 MW.
The funds raised from the sale of the farm projects were used by New Energy Investments sp. z o.o., a Columbus Group company, to redeem all issued A bonds, for the total amount of PLN 70,532,437.50. Thus, all of the issued A bonds (the so-called Green Bonds) were redeemed.
– As announced, we are selling some of our assets to improve the Group’s balance sheet structure and liquidity. From the raised funds, we repaid all Green Bonds. Thus, our debt to financing institutions was reduced to the current amount of PLN 25 million. It is a huge operational effort for us, but also a great satisfaction, since we will be able to focus our resources and competencies on those areas of the business that provide a faster return on investment, such as the business segment or foreign expansion – says Dawid Zieliński, the President of the Management Board of Columbus Energy S.A.
It is worth reminding that in December 2022, Columbus entered into a contract with ENGIE Green Energy for the sale of photovoltaic farm projects of the total capacity of 102.5 MW. The first tranche of the transaction included projects of the total capacity of 32.8 MW, with further tranches scheduled for completion in 2023. The total transaction price, including subrogation, will range from EUR 97.6 million to EUR 110 million.