Photon Energy NV announces the connection of its first solar power plant in the Hungarian town of Fertőd and the further expansion of its project pipeline by eight additional photovoltaic projects with a total estimated installed capacity of 5.5 MWp in the municipality of Tiszakecske in Hungary.
The acquired PV projects bring the total Hungarian pipeline volume to 26.1 MWp and Photon Energy expects to build and connect the plants to the grid by the beginning of 2018Q4.
The 528 kWp power plant project in Fertőd, in the Győr-Moson-Sopron region of Hungary, was acquired by Photon Energy in July 2017 and built by the company’s EPC subsidiary Photon Energy Solutions HU Kft. During the 25-year support period the power plant is licensed to sell 14.3 GWh of renewable energy, generating revenues of at least EUR 1.478 million over the entire period.
The acquisition of eight new PV projects in Tiszakecske, in the Bács-Kiskun region, increases Photon Energy’s pipeline in Hungary to 38 projects with a total installed capacity of 26.1 MWp. In the announced transaction Photon Energy acquired 100% of the shares in eight project companies with a total planned installed capacity of 5.5 MWp.
Photon Energy’s Hungarian project pipeline includes 8 projects in Tiszakecske representing 5.5 MWp, 8 projects in Almásfüzitő representing 5.5 MWp, 6 projects in Fertőd (I & II) representing 4.0 MWp, 8 projects in Monor representing 5.6 MWp and 8 projects in Tata representing 5.5 MWp.
“In our pursuit to add 50 MWp of operating PV plants to our Hungary portfolio by year-end 2019, this acquisition marks another significant step forward and is a testament to our strong focus on the Hungarian market bearing fruit,” comments Photon Energy CEO Georg Hotar.
“The connection of our first Hungarian power plant confirms our strong foothold in the market. Furthermore, we keep enlarging our team in Hungary, participate in local industry events and are ready to roll out our operations and maintenance activities, strengthening our position of a reliable and experienced solar energy solutions provider in the CEE region.”