Photon Energy Connects 7.5 MWp Solar PV Power Plant to Grid in Romania

Issuer: Photon Energy NV / Key word(s): Expansion Photon Energy Connects 7.5 MWp Solar PV Power Plant to Grid in Romania 16.09.2024 / 09:35 CET/CEST The issuer is solely responsible for the content of this announcement. Photon Energy Connects 7.5 MWp Solar PV Power Plant to Grid in Romania

• The Company has completed and grid-connected an additional power plant in Romania with a generation capacity of 7.5 MWp located near Făget in Timiș County
   
• The Făget 3 power plant is the largest in the Group’s IPP portfolio to date and brings the number of operating plants to 100
   
• The total annual production of the power plant is expected to be around 11.1 GWh, equivalent to 7.9% of the total 2023 generation of the Group’s IPP portfolio
   
• The Company expects to book approximately EUR 2.5 million in other comprehensive income in its Consolidated Statement for Q3 2024, which will positively impact the Group’s consolidated equity

 

Amsterdam/Bucharest – 16 September 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 7.5 MWp.

“We are proud to have expanded our portfolio of operating solar PV assets by an additional 7.5 MWp in Romania,” said Georg Hotar, CEO of Photon Energy Group. “This latest addition is particularly exciting as it’s our largest to date. It rounds our portfolio expansion in Romania up to a total of twelve power plants with a total installed capacity of 48.4 MWp and increases our global total to 100 units and the combined capacity to 140.3 MWp.”

Located near Făget (Timiș County), the power plant extends over 9.1 hectares of greenfield land and is equipped with a total of 12,216 high-efficiency bifacial PV modules mounted on single-axis trackers. This is our third PV power plant in this location, with a total installed capacity of 14.6 MWp.