EQS-News: Photon Energy connects 7.5 MWp photovoltaic power plant to the grid in Romania

Photon Energy connects 7.5 MWp photovoltaic plant to grid in Romania

• The company has completed and connected to the grid another power plant in Romania with a generating capacity of 7.5 MWp, located near Făget in the Timiș County
• The Făget 3 power plant is the largest investment in the Group’s IPP portfolio to date and increases the number of operating power plants to 100
• The plant’s total annual production is expected to be around 11.1 GWh, representing 7.9% of the Group’s total IPP portfolio production in 2023.
• The Company expects to record approximately EUR 2.5 million in other comprehensive income in its consolidated financial statements for Q3 2024, which will have a positive impact on the Group’s consolidated equity.

Amsterdam/Bucharest – September 16, 2024 – Photon Energy NV (WSE&PSE: PEN, FSX: A1T9KW) (“Photon Energy Group” or the “Company”) announces that Photon Energy Engineering Romania SRL – the Group’s Romanian subsidiary specializing in engineering, procurement and construction (EPC) services – has completed and connected to the grid another photovoltaic (PV) power plant in the Romanian market. The plant has a generating capacity of 7.5 MWp.

“We are proud to have expanded our portfolio of operational photovoltaic assets in Romania by an additional 7.5 MWp,” he said. Georg Hotar, CEO of Photon Energy Group“This latest addition is particularly exciting as it is our largest to date. It completes the expansion of our portfolio in Romania to a total of twelve plants with a combined installed capacity of 48.4 MWp and brings our global total to 100 units and total capacity to 140.3 MWp.”

The plant, located near Făget (Timiș County), extends over 9.1 hectares of undeveloped land and is equipped with 12,216 high-performance bifacial photovoltaic modules mounted on single-axis trackers. It is our third photovoltaic plant in this location, with a total installed capacity of 14.6 MWp.

The new plant is expected to have a total annual production of around 11.1 GWh, which is 7.9% of the Group’s own portfolio production last year. The Făget 3 photovoltaic plant will supply clean energy to the grid operated by Rețele Electrice Banat. The electricity generated will be sold on the energy market on a commercial basis, without any government support or power purchase agreement with the energy consumer.

The Group’s own assets portfolio valuation model, in line with IAS 16, means that other comprehensive income of approximately EUR 2.5 million will be recognised in the Group’s consolidated income statement for Q3 2024 in connection with the commissioning of the Făget 3 power plant, which will strengthen the Group’s capital position.

The company’s Independent Power Producer (IPP) portfolio currently includes 100 solar power plants with a total generating capacity of 140.3 MWp. An additional 3.2 MWp is currently under construction in Sărulești, Romania, which is expected to increase the IPP portfolio to 143.5 MWp by the end of the year.

In the Romanian market, Photon Energy offers a wide range of services, including project development, EPC (engineering, procurement and construction) and O&M (operation and maintenance) of photovoltaic power plants. The company also distributes best-in-class photovoltaic components and builds rooftop photovoltaic installations for commercial and industrial customers.

About Photon Energy Group – photonenergy.com

Photon Energy Group is a group of companies providing renewable energy, clean water and environmental remediation solutions worldwide. Photon Energy and Lerta provide comprehensive renewable energy solutions, including solar energy and energy flexibility. Since its establishment in 2008, Photon Energy has built and commissioned solar power plants with a total capacity of over 160 MWp and has a portfolio of power plants with a total capacity of 140.3 MWp. It is currently developing projects with a total capacity of 1 GWp in Australia, Hungary, Poland and Romania and providing operation and maintenance services for over 880 MWp worldwide. Photon Energy’s virtual power plant aggregates renewable energy generators and consumers with a total capacity of over 480 MW. Photon Energy and Lerta hold electricity trading licenses in Poland, the Czech Republic, Slovakia, Hungary, Romania and Serbia. Lerta is the third largest DSR service provider for the Polish OSP, with a contracted capacity of 389 MW for 2024. Through Photon Water, the Group offers water treatment and management solutions, and its remediation technology removes PFAS and other contaminants from water and soil. Photon Energy NV, the holding company of Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt stock exchanges, as well as on Xetra, a leading German online trading platform. Photon Energy Group is headquartered in Amsterdam, with offices in Australia and throughout Europe.

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