Photon Energy connects 10.3 MWp solar photovoltaic plants to Romania's grid

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 Romanian subsidiary of the group, dedicated to technology, procurement, and construction (EPC) services – has completed and connected to the grid two photovoltaic (PV) power plants in its Romanian market. The plants have a combined production capacity of 10.3 MWp.

“We are delighted to expand our portfolio of operational photovoltaic assets by another 10.3 MWp. Following the commissioning of our first six power plants in Romania earlier this year, the commissioning of the installations in Făget and Săhăteni represents another important step for Photon Energy in the Romanian renewable energy market, where we have an additional capacity of around 20 MWp at five different locations in an advanced stage of construction,” said Georg Hotar, CEO of the Photon Energy Group.

The total annual production of the power plants is expected to be approximately 4.7 GWh and 10.9 GWh, respectively. High-efficiency double-sided solar modules mounted on single-axis tracking devices will provide clean energy to the grids managed by E-Distribuție Banat (Făget) and Distribuție Energie Electrică România (Săhăteni). The produced electricity will be sold on the commercial energy market, without any governmental support or power purchase agreement with an energy distributor.

The Company expects the power plants to generate revenues of approximately 2.25 million euros in 2024 based on current forward prices for base-load electricity in Romania.

The power plants are located near Făget (Timiș County) and Săhăteni (Buzău County) and cover 4.8 and 10 hectares of vacant land, equipped with a combined 18,300 solar panels. The plants are owned and operated by special purpose companies, which are fully owned by the Photon Energy Group.

The Company’s Independent Power Producer (IPP) portfolio now includes 96 solar power plants with a combined generation capacity of 123.4 MWp. Currently, over 100 MWp of capacity is directly sold as clean electricity on the energy market.

The Company is currently developing utility-scale solar photovoltaic projects with a combined capacity of over 1.2 GWp MWp in Australia and its core markets in Central and Eastern Europe, including 223 MWp in Romania, with a total capacity of 20.1 MWp in an advanced construction stage.

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) for photovoltaic power plants. Additionally, the Company distributes top-class photovoltaic components and constructs rooftop solar installations for commercial and industrial customers.