Photon Energy NV (WSE: PEN, the 'Group') announces thatits subsidiary Photon Energy Solutions HU Kft has built andgrid-connected three photovoltaic power plants in Nagyecsed,Hungary with a total installed capacity of 2.1 MWp. This latestaddition expands the Group’s proprietary portfolio of PV powerplants to 39.2 MWp.
The plants, covering an area of 4.4 hectares, are connected tothe grid of E.ON Tiszántúli Áramhálózati Zrt and are expected togenerate around 2.5 GWh of electricity per year.
“Today’s grid connection of our plants in Nagyecsed is atestament to our team’s capabilities to implement projects quickly.In no more than 127 days from acquisition our team managed toprepare the execution design, update the construction permit,procure all components as well as construct and connect three powerplants while working on many other projects in parallel. I amgenuinely proud of our team and my special thanks goes to ourhighly professional sub-contractors and suppliers,” said PhotonEnergy CEO Georg Hotar. He added “We are very pleased that ourfocused, hard work enables us to implement PV projects in Hungaryto our high standards in a very short period of time. The Hungarianmarket is of strategic importance to us and we remain confident inreaching our goal of 50 MWp of proprietary power plants in thecountry by year-end 2020.”
The Group will own and operate these three power plants throughthe fully-owned project companies Aligoté Kft, Proma Mátra Kft andMediátor Ingatlanközvetítö Kft. Each company owns a KÁT licenseentitling it to a feed-in-tariff of some 32 HUF per KWh (approx.EUR 0.1 per kWh) over a period of up to 25 years with a maximumapproved and supported production of 15,075 MWh. Total annualrevenues of all three power plants are expected to amount to EUR250,000.
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MEDIA CONTACT
Martin Kysly
T +420 774 810 670
E martin.kysly@photonenergy.com
