Photon Energy (WSE: PEN, the 'Group') announces that itssubsidiary Photon Energy Solutions HU Kftstarted construction asEPC contractor on eight photovoltaic power plants with a totalcapacity of 5.5 MWp in Almásfüzitő, Hungary.
The eight solar facilities of 498 kW each will be installed inthe vicinity of the Hungarian village Almásfüzitő located some 75km northwest of Budapest near the Slovak border.
Covering an area of 6.96 hectares, the power plants will becomposed of almost 20,000 Jinko modules that are designed togenerate around 6.6 GWh of electricity per year. Subject to weatherconditions, the power plants are expected to be connected to thegrid of E.ON Észak-dunántúli Áramhálózati Zrt before the end of theyear.
Photon Energy will deliver the engineering, procurement andconstruction services through its subsidiary Photon EnergySolutions HU Kft. Once connected to the grid, the group’ssubsidiary Photon Energy Operations HU Kft will provide long-termmonitoring as well as operations and maintenance services to thesystems. All eight power plants will become part of the Group’sproprietary portfolio.
“Following the recent announcement of construction start on 5.5MWp solar projects near Tiszakécske, the construction start on anadditional eight solar projects in Almásfüzitő with a capacity ofanother 5.5 MWp underlines our strong commitment to the Hungarianmarket and our goal to expand the company’s own portfolio of solarpower plants,“ comments Georg Hotar, CEO of Photon Energy.
Photon Energy will own and operate the projects through theGroup’s wholly owned company Rácio Master Kft. The subsidiary ownseight KÁT licenses that entitle the power plants to a feed-intariff of 32 HUF per KWh (approx. EUR 0.1 per kWh) over a period of25 years with a maximum approved and supported production of 15,500MWh per license. Total annual revenues of all power plants areexpected to amount to around EUR 660,000. The total constructioncost of the eight power plants is estimated at around EUR 6.1million.
Construction site captured bydrone.
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MEDIA CONTACT
Martin Kysly
T +420 774 810 670
E martin.kysly@photonenergy.com
