Photon Energy Investments is expanding its international reachto North America by partnering with Jacob Securities, aToronto-based investment bank dedicated to the renewable energysector. The partnership aims to build and manage a long-termportfolio of at least 100 MW of utility-scale PV solar assets inselect regions of Canada and the USA starting in 2013.
Amsterdam and Toronto, 24. 1. 2013 – Dutch-based Photon EnergyInvestments N.V., a division of global solar power solutions andservices company, Photon Energy N.V., is expanding to North Americaby partnering with Toronto-based investment bank Jacob Securities.Photon Energy Investments believes North America is quicklybecoming one of the largest PV markets in the world, and ispositioning itself to take advantage of the opportunity with aninitial milestone of commissioning 100 MW of assets. Initially thecompany has plans to commission power plants primarily in Ontarioand New Jersey. To reach this goal both companies are setting up ajoint venture named Photon Energy Investments North America N.V.,tasked with acquiring PV solar power projects in late-stagedevelopment exhibiting power off-take and project financingconditions that meet the company’s strict investment criteria.
The partnership brings together the technical expertise of thePhoton Energy Group in PV project development, asset management,EPC and O&M, with the project financing, financial advisory anddeal sourcing know-how of Jacob Securities. “We recognise thatproject financing in North America is more complex than in Europe,and that the scope of opportunities will be vast”, saysGeorg Hotar, CEO of PhotonEnergy, explaining that, “our partnership is designedto leverage our complementary strengths in this market.”
Studies predict a boom for the PV sector in North America forthis decade and beyond. The political situation in both countriesis increasingly in favour of renewable energy, and a continuingdecline in investment costs is making solar power an economicallyviable option. The Canadian province of Ontario is pursuing itsplans of becoming a leading centre for PV technology, and there-election of Barack Obama as US President has firmly placedrenewable energy on the agenda in Washington, D.C. In 2011, 289 MWof PV capacity was installed in Canada bringing the total capacityto 571 MW, while in the USA an estimated 3,200 MW were installed inby the end of 2012 bringing the total capacity to an estimated7,600 MW. The European Photovoltaic Industry Association (EPIA)expects 4,300 MWp and almost 37,100 MWp could be installed inCanada and the USA, respectively, by 2016, representing a five-foldgrowth scenario.
Beyond grid-tied solar power, Photon Energy is offering O&Mservices through its division Photon Energy Operations, andpursuing off-grid and solar-hybrid project opportunities under itsPower Solutions division. These solutions address the increasingdemand for PV power as a means to reduce power costs, especially inremote operations of energy-intensive sectors such as mining andagriculture, but also increasingly in the commercial andresidential sectors. "We are seeing only the tip of theiceberg in term of solar power usage" says GeorgHotar, citing that by the end of this decade, as much ashalf of North American households and businesses may be able toreduce their electricity bills and do good for our environment byembracing solar power.
Jacob Securities Inc. ("JSI") is an
independentfull-service investment bank providing underwriting and financialadvisory services to companies
in the renewable power,infrastructure and energy sectors. The firm, which is headquarteredin Toronto,
primarily services small- to mid-cap issuers in NorthAmerica and around the world. Over the past five years,
JSI hasbeen involved in over $3.5 billion in global equity financings andM&A transactions. Of that
figure, JSI's team has led over35 renewable transactions, raising over $500 million for renewableand
cleantech clients.
MEDIA CONTACT
Jan Krcmar
T +420 773 032 182
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ABOUT
PHOTON ENERGY INVESTMENTS
Photon Energy Investments N.V. is an
independent producer ofelectricity from its own portfolio of PV power plants. It is partof the Photon Energy
group, a global solar power solutions andservices company. Photon Energy Investments’
core
business is solar power asset creation and management, andproviding sustainable and long-term cash flows for
shareholders.The portfolio of Photon Energy Investments includes 25 solar powerplants in Czech Republic,
Slovakia and Italy with a total installedcapacity of 26,7 MWp at the end of 2012. The company is
expandingits asset portfolio with new solar power plants in Europe,Australia and North America.
For
more information please visit www.photonenergyinvestments.com