Photon Energy Operations HU Kft. (the ‘Company’), the HungarianO&M subsidiary of Photon Energy N.V. (WSE: PEN), todayannounced that it has signed a 15-year Operations & Maintenance(O&M) agreement with owners of 28 PV power plants – currentlyunder construction – with a combined generation capacity of 15.3MWp.
“We are thrilled to take on the responsibility for theoperations and maintenance for our client’s 28 PV power plants inHungary. We are looking forward to deploying our SmartOperations approach to maximize the energy production, and thus therevenues and profitability of these solar assets. This contract isa strong proof that the Hungarian market provides us withsubstantial growth potential for our O&M business beyond ourproprietary portfolio, and we are strongly motivated to replicateour market-leading position held in the Czech Republic,” said GeorgHotar, Photon Energy CEO.
The 28 PV power plants are located in in the vicinity of thetown of Monor where Photon Energy plans to construct eight PV powerplants for its proprietary portfolio by mid-2019, deliveringsubstantial synergies in the provision of O&M services acrossall 36 PV power plants. Photon Energy will provide comprehensiveO&M services including plant monitoring, performance managementas well as preventive and corrective maintenance at all 28facilities.
All 28 PV power plants in Monorierdő are expected to beoperational by the end of 2019Q1. Once up and running, the Companywill be providing O&M services to 26.8 MWp of PV power plantsin Hungary, turning the country into the Group’s second largestO&M market.
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Martin Kysly
T +420 774 810 670
E martin.kysly@photonenergy.com