In Romania, Photon Energy has a portfolio of photovoltaic projects of almost 218 MW in different stages of development. The volume has increased strongly compared to the level of 105.2 MW at the end of 2020. The growth rate in Romania is exceeded only by that in Poland – from 24.9 MW in 2020 to 125.1 MW in the first 9 months of 2021. Hungary has stagnated, an so did Australia, the main market in which Photon Energy operates in the photovoltaic segment.

In Poland, 77% of Photon Energy’s photovoltaic projects are in the first stage of development – feasibility study: LOI or MOU signed, location scouted and analyzed, working on land lease/purchase, environmental assessment and application for grid connection). On the other hand, in Romania, almost 80% of the capacity is already in development: 5.5% is in advanced development (Finishing work on construction permitting, receiving ATR Letter, Finishing work on permitting for connection line, etc.) and 74% is in preliminary development (signing of land option, lease or purchase agreement, environmental assessment, preliminary design, application for grid capacity, start work on permitting aspects – construction, connection line, etc.).

Photon Energy’s business model is to develop these projects, but not to keep them all in the portfolio; most of them will be sold to other investors. At the end of September, the company had in its portfolio 86 photovoltaic plants in the Czech Republic, Slovakia, Hungary and Australia, totaling an installed capacity of 89.3 MW. In Romania, Photon Energy is already active in the maintenance area, where it operates 15 MW photovoltaic projects.