On July 20, 2023, Grenevia SA acquired a stake of approx. 75% of shares in the share capital of Total Wind PL. The acquisition of Total Wind PL is an important step in the diversification of the FAMUR segment, which brings together technologies, products and services for the mining and wind power sectors in the Grenevia Group.
The value of the transaction was approx. € 4.5 million. Consistently increasing its involvement in the wind sector allows the production facilities of Famur to expand their operations, while remaining an important element in the implementation of the Sustainable Development Strategy.
FAMUR, which is one of the four business segments of the Grenevia Group, has been consistently building up its position in the renewable energy sources (RES) sector, taking advantage of opportunities arising from Poland's energy transition and the global trend toward low-carbon economies. The wind power business is based on competence base developed over the years and experience in designing and building industrial equipment. The acquisition of Total Wind PL will expand Famur's competences in the area of solutions and services for the wind power industry.
Total Wind PL is a Polish company focused on wind turbine installation services, as well as repairs and replacements of major components for key turbine manufacturers. It boasts 18 years of experience, and has installed more than 1,000 wind turbines since its inception. At the end of 2022, Total Wind PL employed some 100 individuals, including 80 technical staff. The company is implementing projects in 10 countries. Last year, it generated the revenues of PLN 36.3 million, of which some 90% came from foreign markets.
The acquisition of Total Wind PL significantly affects the process of diversification of the operations of our FAMUR segment and reinforces our position in the wind power market. The company has many years of experience and a range of competences that will allow us to complement the service offer we are currently developing with the replacement of major turbine components, as well as maintenance and assembly services. Consistently increasing our involvement in the wind power sector not only allows us to expand the operations of Famur's production facilities, but also remains an important element in the implementation of the Sustainable Development Strategy.
Miroslaw Bendzera, President of the Management Board of FAMUR SA
The Grenevia Group integrates and develops the operations of four business segments. These include: large-scale photovoltaics and PV solutions for businesses concentrated in Projekt Solartechnik; battery systems, power storage and electromobility as part of IMPACT Clean Power Technology; modern automation equipment for the industry and solutions for the power distribution industry based in the Elgór+Hansen subsidiary, as well as technologies and products for the mining and wind energy sector as FAMUR. Currently, the Group's operations are focused on building the value proposition of its various segments.