Photon Energy NV / NL0010391108

Photon Energy Expands Romanian IPP Portfolio to Over 50 MWp 

Issuer: Photon Energy NV / Key word(s): Expansion


18.10.2024 / 06:59 CET/CEST
The issuer is solely responsible for the content of this announcement.

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  The Company has completed and grid-connected an additional power plant in Romania with a generation capacity of 3.2 MWp located near S?rule?ti in C?l?ra?i County. The S?rule?ti power plant is Group’s thirteenth Romanian photovoltaic asset, bringing the total capacity of its Romanian portfolio to 51.6 MWp. The total annual production of the power plant is expected to be approximately 4.9 GWh, corresponding to estimated revenues of EUR 400,000 in 2025 based on Transelectrica’s (the Romanian electricity transmission system operator) off-take conditions.   Amsterdam/Bucharest – 18 October 2024 – Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) (“Photon Energy Group” or “the Company”) announces that Photon Energy Engineering Romania S.R.L. – the Group’s Romanian subsidiary dedicated to engineering, procurement and construction (EPC) services – has completed and grid-connected another photovoltaic (PV) power plant in the Romanian market. The power plant has a generation capacity of 3.2 MWp. “We are proud to have expanded our portfolio of operating solar PV assets by an additional 3.2 MWp in Romania,” said Georg Hotar, CEO of Photon Energy Group. “This latest addition brings our portfolio in Romania to thirteen power plants with a combined installed capacity of 51.6 MWp, confirming our strong project pipeline this year and the dynamic growth in the Romanian market.” Located near S?rule?ti (C?l?ra?i County), the power plant extends over 4.5 hectares of greenfield land and is equipped with a total of 5,760 high-efficiency bifacial PV modules mounted on single-axis trackers. The Company expects the power plants to generate approximately EUR 400,000 in revenues in 2025 based on Transelectrica’s off-take conditions. With an estimated annual production of 4.9 GWh, the new power plant will deliver clean energy to the grid managed by E Distributie Dobrogea S.A. After obtaining the electricity generation licence, the electricity generated will be sold on the energy market on a merchant basis, without any governmental support or a power purchase agreement with an energy off-taker. The Company’s IPP (Independent Power Producer) portfolio now includes 100 solar power plants, with a combined generation capacity of 129.7 MWp. In the Romanian market, Photon Energy offers a wide range of services including project development, EPC (engineering, procurement and construction) and O&M (operations and maintenance) of PV power plants. In addition, the Company distributes best-in-class PV components and builds PV rooftop installations for both commercial and industrial customers.   About Photon Energy Group – photonenergy.com Photon Energy Group delivers solar energy and clean water solutions around the world. Its solar power services are provided by Photon Energy; since its foundation in 2008, Photon Energy has built and commissioned solar power plants with a combined capacity of over 160 MWp and has power plants with a combined capacity of 129.7 MWp in its proprietary portfolio. It is currently developing projects with a combined capacity of 1 GWp in Australia, Hungary, Poland and Romania and provides operations and maintenance services for 880 MWp worldwide. Through its fully owned subsidiary Lerta, the Group has electricity trading licenses in Poland, the Czech Republic, Slovakia, Hungary, Romania and Serbia. Lerta is the third largest provider of DSR services to the Polish TSO with a contracted capacity of 389 MW for 2024, and through its Virtual Power Plant (VPP) aggregates energy generators and consumers with a total capacity of over 480 MW. The Group’s other major business line, Photon Water, provides clean water solutions including treatment and remediation services, as well as the development and management of wells and other water resources. Photon Energy N.V., the holding company for Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt Stock Exchanges, as well as XETRA, Germany’s leading online trading platform. Photon Energy Group is headquartered in Amsterdam, with offices in Australia and across Europe.    

 

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