Photon Energy announces that the Romanian branch of the group, dedicated to technological services, procurement and construction (EPC) – has completed and connected to the grid another photovoltaic (PV) plant. The plant has a combined production capacity of 3.9 MWp.
“We are delighted to have expanded our portfolio of operational PV assets with a further 3.9 MWp in Romania,” said Georg Hotar, CEO of Photon Energy Group. “This latest addition completes the expansion of our portfolio in Romania to a total of nine plants power plants with a total installed capacity of 35.4 MWp in 2023, with four more power plants with a combined installed capacity of 16.9 MWp under construction and expected to be commissioned in the coming months.Given the strong portfolio of projects and the dynamic evolution of the market, we anticipate a year full of activity in Romania in 2024”.
The total annual output of the new power plant is expected to be approximately 5.8 GWh. The bifacial modules mounted on a single axis tracker structure will supply clean energy to the network managed by E-Distribuție Banat. The electricity produced will be sold on the power market on a commercial basis, without any government support and without a power purchase agreement with a power distributor.
The company expects the plant to generate revenues of approximately €550,000 in 2024 based on current prices for electricity supplied in the band or PZU in Romania.
The power plant is located in Făget (Timiș county) and covers an area of 6.6 hectares of vacant land, being equipped with 7,280 combined solar panels. The plant is owned and operated by special purpose companies, which are wholly owned by Photon Energy Group.
The company’s IPP (Independent Power Producer) portfolio now includes 97 solar plants with a combined generation capacity of 127.3 MWp.
The company is currently developing utility-scale solar PV projects with a combined capacity of over 1.2 GWp MWp in Australia and its core markets in Central and Eastern Europe, including approximately 220 MWp in Romania, of which a total capacity of 16 .9 MWp being in an advanced construction stage.