EQS-News

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

Issuer: Photon Energy NV / Key word(s): Expansion Powering Progress: Photon Energy Commissions its 10th PV Power Plant in Romania 01.02.2024 / 10:32 CET/CEST The issuer is solely responsible for the content of this announcement. Powering Progress: Photon Energy Commissions its 10th PV Power Plant in Romania

• Located in Bocșa, Caraș-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  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.