Photon Energy announces the acquisition ofa project for a 520 KWp solar power plant in the North-West ofHungary. The project is ready-to-build and Photon Energy intends tostart construction in 2017Q3 and connect the power plant beforeyear-end.
Photon Energy acquired100% of the shares inFertőd Napenergia-Termelő Kft., a Hungarian limited-liabilitycompany owning all licenses, rights and permits (including a validconstruction permit) for the construction of a 520 KWp (DC)photovoltaic power plant (subject to a 499 KW AC grid connection).The project is located in the municipality of Fertőd, in theGyőr-Moson-Sopron region of Hungary.
The PV plant is eligible for support underthe KAT support system guaranteeing an off-take price of HUF 31,770(EUR 103.34) per MWh of electricity supplied to the grid. Duringthe 25-year support period the power plant is licensed to sell 14.3GWh of renewable energy, generating revenues of at least EUR 1.478million over the entire period.
“The acquisition of the Fertőd projectexpands Photon Energy’s project pipeline in Hungary to 12 projectswith a planned installed capacity of 6.8 MWp”, explainedPhoton Energy CEO Georg Hotar. “We havecertainly hit the Hungarian ground running. With this project weare sending a clear signal to our investors that we are committedto expanding our portfolio or power plants and with itsignificantly strengthen our long-term revenues”, Hotarconcluded.
Jan Krcmar
T +420 773 032 182
E jan.krcmar@photonenergy.com