Airengy (formerly Augwind) has signed binding agreements to acquire a portfolio of 6 solar projects in Poland with a total capacity of about 34 MW. These are revenue-generating assets that will produce income from day one and will be enhanced through the integration of battery energy storage systems (BESS).
- Total projected revenues over the projects’ lifetime: ~ 97-120 million euro
- Projected EBITDA over the projects’ lifetime: ~ 75-84 million euro
- Transaction value: ~ 23.7 million euro
Airengy Tech has signed binding agreements to acquire a portfolio of six solar projects in Poland with a total capacity of around 34 megawatts (MW). This marks a major milestone for the company, representing its first move into owning and operating revenue-generating electricity production assets.
The portfolio includes projects at various stages of development some already operational and producing revenue, while others are in the final stages of construction or development.
Under the deal structure, Airengy will complete the acquisition of each project only once it reaches commercial operation, ensuring the company acquires cash-flow-positive assets from day one.
The total transaction value is approximately €23.7 million, reflecting an average acquisition cost of about €690,000 per installed MW. Completion will take place in three phases through 2027, aligned with each project’s grid connection and operational timeline.
These projects benefit from 15-year Contracts for Difference (CfD) agreements, guaranteeing inflation-linked revenue for roughly 62% of electricity output, with the remaining energy sold on the open market.
Professional estimates suggest that in the first year after all projects become operational, revenues will reach €3–3.5 million, with annual EBITDA of €2.3–2.7 million. Over the lifespan of the portfolio, total revenues are projected at €97–120 million, and EBITDA at €75–84 million.
To support the first phase of the acquisition, Airengy has also secured ~€9.3 million in financing from an Israeli non-bank lender. This funding will help advance initial project stages until long-term senior financing is finalized.
Looking ahead, Airengy plans to enhance these assets by adding battery energy storage systems (BESS) alongside the solar facilities. The integration of storage will allow the company to shift electricity sales to periods of higher market prices, further improving project revenues and profitability.
This acquisition marks Airengy’s first step in building a broader European portfolio of renewable energy and storage assets. The company aims to expand its presence in Poland, a market where its leadership team brings extensive industry experience and is actively evaluating additional photovoltaic, storage, and wind projects in advanced development or ready-to-build stages.
In parallel, Airengy is in discussions with institutional investors in Israel to co-finance parts of the project portfolio, laying the foundation for a joint investment platform for renewable energy and energy storage projects across Europe.
These activities complement Airengy’s core business in long-duration energy storage through its proprietary Compressed Air Power Plant (CAPP) technology, which focuses on developing large-scale, sustainable storage facilities based on compressed air systems.
Leadership Comments
Maj. Gen. (Res.) Yiftah Ron-Tal, Chairman of the Company, commented:
“The signing of the agreements for the acquisition of the portfolio in Poland represents another significant step in implementing Airengy’s strategy to establish a broad portfolio of renewable energy and storage assets in Europe.
“This is the Company’s first transaction in this field, marking its entry into ownership and operation of revenue-generating electricity production assets and the beginning of its activity in projects combining battery storage. The transaction aligns with our strategic vision of integrating electricity generation from renewable sources with advanced storage solutions, thereby creating a stable platform for long-term value creation for our shareholders.”
Tal Raz, CEO of Airengy, added:
“This is the first transaction of its kind for Airengy, signaling the start of ownership and operation activity of revenue-generating energy assets in Europe. The current portfolio is the first swallow of spring in a broader platform we are building in Poland – a market we have known well for many years and where we have access to high-quality investment opportunities.
“We believe that combining battery storage systems alongside the solar facilities will significantly improve the performance of the assets. At the same time, we are working to expand our activities to additional projects in the solar, storage, and wind sectors, while exploring the involvement of Israeli institutional entities in the investment platform we are establishing.”
