Photon Energy N.V. (WSE: PEN, the 'Group') announcesthat its subsidiary Photon Energy Solutions HU Kft has completedand grid-connected three photovoltaic power plants with a totalinstalled capacity of 2.1 MWp in Taszár, Hungary. This latestaddition expands the Group’s global proprietary portfolio of PVpower plants to 51.8 MWp.
The power plants, covering an area of 4.5 hectares, areconnected to the grid of E.ON Dél-dunántúli Áramhálózati Zrt. andare expected to generate around 2.7 GWh of electricity peryear.
“With the grid-connection of our PV power plants in Taszár, weare proud to be contributing 26.1 MWp of PV capacity to theHungarian energy mix. With a further 7.7 MWp of PV power plantsunder construction and due to be commissioned in 2020Q1, we remainwell on track towards our year-end 2021 goal of 75 MWp of HungarianPV power plants in our proprietary portfolio,“ said Georg Hotar,CEO of Photon Energy N.V.
The Group will own and operate the power plants through theGroup’s wholly owned project company Optisolar Kft. The subsidiaryowns three KÁT licenses that entitle each power plant to a feed-intariff of HUF 32,590 per MWh (approx. EUR 98 per MWh) over a periodof 25 years with a maximum approved and supported production of16,475 MWh per license. Total annual revenues of all three powerplants are expected to amount to EUR 266,000.
Following the revaluation of the Group’s proprietary portfolioaccording to IAS 16, approximately EUR 0.5 million will be recordedas the Group’s Other Comprehensive Income in the 2019Q4 Profit andLoss Statement.
Martin Kysly
T +420 774 810 670
E martin.kysly@photonenergy.com