Photon Energy connected its first 528 kWp Hungarian power plantin the town of Fertőd and announced acquisition of eight newprojects in Central Hungary, thus increasing its project pipelinein the country to over 26 MWp.
Photon Energy NV announces the connection of its first solarpower plant in the Hungarian town of Fertőd and the furtherexpansion of its project pipeline by eight additional photovoltaicprojects with a total estimated installed capacity of 5.5 MWp inthe municipality of Tiszakecske in Hungary. The acquired PVprojects bring the total Hungarian pipeline volume to 26.1 MWpand Photon Energy expects to build and connect the plants to thegrid by the beginning of 2018Q4.
The 528 kWp power plant project in Fertőd, in theGyőr-Moson-Sopron region of Hungary, was acquired by Photon Energyin July 2017 and built by the company’s EPC subsidiary PhotonEnergy Solutions HU Kft. During the 25-year support period thepower plant is licensed to sell 14.3 GWh of renewable energy,generating revenues of at least EUR 1.478 million over the entireperiod.
The acquisition of eight new PV projects in Tiszakecske, in theBács-Kiskun region, increases Photon Energy’s pipeline in Hungaryto 38 projects with a total installed capacity of 26.1 MWp. In theannounced transaction Photon Energy acquired 100% of the shares ineight project companies with a total planned installed capacity of5.5 MWp.
Photon Energy’s Hungarian project pipeline includes 8 projectsin Tiszakecske representing 5.5 MWp, 8 projects in Almásfüzitőrepresenting 5.5 MWp, 6 projects in Fertőd (I & II)representing 4.0 MWp, 8 projects in Monor representing 5.6 MWpand 8 projects in Tata representing 5.5 MWp.
“In our pursuit to add 50 MWp of operating PV plants to ourHungary portfolio by year-end 2019, this acquisition marks anothersignificant step forward and is a testament to our strong focus onthe Hungarian market bearing fruit,” comments PhotonEnergy CEO Georg Hotar. “The connection of our firstHungarian power plant confirms our strong foothold in the market.Furthermore, we keep enlarging our team in Hungary, participate inlocal industry events and are ready to roll out our operations andmaintenance activities, strengthening our position of a reliableand experienced solar energy solutions provider in the CEEregion,” concludes Georg Hotar.
Anastasia Hotar
T +420 775 861 732
E anastasia.hotar@photonenergy.com
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