Photon Energy N.V. announced record audited financial results for 2019, with consolidated revenues up by 48.9% to EUR 30.15 million, total comprehensive income up by 218.6% YoY to EUR 8.06 million and record consolidated equity of EUR 37.84 million.

The expansion of the Hungarian power plant portfolio by 20.1 MWp and the successful exit from two large-scale project development joint ventures in Australia resulted in a 218.6% YoY increase in Total Comprehensive Income to EUR 8.06 million and a consolidated equity of EUR 37.84 million. The company also secured long-term project financing for 46 projects in Hungary with a total capacity of 31.5 MWp.

ʺ2019 was another very dynamic year for Photon Energy across all its business lines, covering the entire life cycle of photovoltaic power plants”, commented Georg Hotar, CEO of Photon Energy, in a press release. He also announced the company has taken its first steps to enter “the dynamic Polish market, where we are very excited to implement our proven business model in 2020 and beyondʺ.

„With regards to the COVID-19 pandemic, Photon Energy’s diversified revenue streams reduce the potential negative impact on our business. For all projects to be implemented over the next six months we have already secured all necessary components, including solar modules,ʺ added Hotar.

Photon Energy N.V. is a global solar energy solutions and services company covering the entire lifecycle of solar energy systems, also present in the Romanian market. For more information, please visit www.photonenergy.com.