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 Bocșa 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-Distribuție 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 Bocșa (Caraș-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.
Bocșa: 3.8 MWp Solar PV Power Plant (1) | Image source: Photon Energy Group
Bocșa: 3.8 MWp Solar PV Power Plant (2) | Image source: Photon Energy Group