Thanks to particularly favourable weather conditions, the average performance of the proprietary power plants came in 33.7% above expectations with a record 9.3 GWh generated during the reporting period. These excellent results were driven primarily by an extraordinary outperformance of our power plants in the Czech Republic, producing by 51.1% more electricity than projected.

Photon Energy entered into a strategic partnership with the Melbourne-based technology company RayGen Resources to develop global renewable energy projects suitable for the rollout of RayGen's unique solar power and electricity storage technology. Photon Energy will act as a project developer, EPC contractor and - where suitable - as a project equity investor.

Acting as an EPC contractor, Photon Energy won a tender for the design and construction of a 3 MWp solar power plant in the city of Wodonga in Victoria, Australia.

The Company completed and grid-connected five PV power plants with a total installed capacity of 3.5 MWp in the municipalities of Mályi and Kunszentmárton, Hungary. This latest addition expands the Group's installed base in Hungary to 35.0 MWp and its total proprietary portfolio of power plants to 60.6 MWp.

Download the monthly report here (pdf).

All our reports can be found on the Reports page in our Investor Relations section.

MEDIA CONTACT

Martin Kysly
Photon Energy
T +420 774 810 670
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Photon Energy NV published this content on 14 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2020 13:19:04 UTC