The Company has completed and grid-connected an additional power plant with a generation capacity of 3.9 MWp near Făget, Timiș County.
The total annual production of the power plant is expected to be around 5.8 GWh, corresponding to expected revenues of around EUR 550,000 in 2024 based on the current forward prices for electricity base load in Romania.
In Romania, the Company is set to commission an additional four power plants with a combined capacity of 16.9 MWp early this year.
Amsterdam/Bucharest – 10 January 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 its Romanian market. The power plant has a generation capacity of 3.9 MWp.
‘We are excited to have expanded our portfolio of operating solar PV assets by an additional 3.9 MWp in Romania,’ said Georg Hotar, CEO of Photon Energy Group. ‘This latest addition rounds up our portfolio expansion in Romania to a total of nine power plants with a total installed capacity of 35.4 MWp in 2023, with an additional four power plants with a combined installed capacity of 16.9 MWp constructed and expected to be commissioned in the following months. With our strong project pipeline and the dynamic growth in the market, we are looking forward to a busy 2024 in Romania.’
The total annual production of the new power plant is expected to be around 5.8 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 the power plants to generate around EUR 550,000 in revenues in 2024 based on the current forward prices for electricity base load in Romania.
Located near Făget (Timiș County), the power plant extends over 6.6 hectares of greenfield land and is equipped with a combined total of 7,280 photovoltaic modules. The power plant is owned and operated by a special-purpose company, which itself is fully owned by Photon Energy Group.
The Company’s IPP (Independent Power Producer) portfolio now includes 97 solar power plants, with a combined generation capacity of 127.3 MWp.
The Company is currently developing utility-scale solar PV 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 16.9 MWp is at an advanced stage of construction.
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.
Făget 2: 3.9 MWp Solar PV Power Plant | Image source: Photon Energy Group
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