Photon Energy NV / NL0010391108

Powering Progress: Photon Energy Commissions its 10th PV Power Plant in Romania

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


01.02.2024 / 10:32 CET/CEST
The issuer is solely responsible for the content of this announcement.

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  Located in Boc?a, Cara?-Severin County, the 3.8 MWp installation expands the Photon Energy’s Romanian IPP (Independent Power Producer) portfolio to 39.1 MWp.   In the coming weeks, the Company is set to commission an additional three power plants in Romania with a combined capacity of 12.4 MWp. The Company’s global IPP portfolio now consists of 98 solar power plants with a combined generation capacity of 131.1 MWp.   Amsterdam/Bucharest – 1 February 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 its tenth photovoltaic (PV) power plant in the Romanian market. The installation has a generation capacity of 3.8 MWp. ‘We are pleased to announce the successful commissioning of our tenth PV power plant in Romania, marking a significant milestone for our activities in this core market,’ said Georg Hotar, CEO of Photon Energy Group. ‘The  Boc?a  power plant expands our IPP  portfolio to 39.1 MWp in Romania and increases our global capacity to 131.1 MWp.’ The total annual production of the new power plant is expected to be around 5.9 GWh. High-efficiency bifacial photovoltaic modules mounted on single-axis trackers will deliver clean energy to the grid managed by E-Distribu?ie Banat. 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 expects its Romanian power plants to generate around EUR 490,000 in revenues in 2024 based on the current forward prices for electricity base load in Romania. Located near Boc?a (Cara?-Severin County), the power plant extends over 5.6 hectares of greenfield land and is equipped with a total of 6,160 photovoltaic modules. The power plant is owned and operated by a special-purpose subsidiary of Photon Energy Group. The Company’s IPP (Independent Power Producer) portfolio now includes 98 solar power plants, with a combined generation capacity of 131.1 MWp. The Company is currently developing utility-scale solar projects with a combined capacity of over 1.2 GWp in Australia and its key CEE markets, including approximately 220 MWp in Romania, of which a total capacity of 12.4 MWp is at an advanced stage of construction. In the Romanian market, Photon Energy offers a wide range of solar power solutions including project development, EPC (engineering, procurement and construction) and O&M (operations and maintenance) for 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 150 MWp and has power plants with a combined capacity of 131.3 MWp in its proprietary portfolio.It is currently developing projects with a combined capacity of 1.2 GWp in Australia, Hungary, Poland and Romania and providesoperations and maintenanceservices for 680 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 TSOwith a contracted capacity of 389 MWfor 2024, andthroughits Virtual Power Plant (VPP) aggregates energy generators and consumers with a total capacity of over 420 MW. TheGroup’sothermajor 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 Groupis headquartered in Amsterdam, with offices in Australia and across Europe.

 

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