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    PEN   NL0010391108

PHOTON ENERGY N.V.

(PEN)
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Photon Energy N : Delivers Hybrid Renewable Energy Project to Lord Howe Island Board

09/16/2021 | 04:42am EDT
  • The Company was contracted by the Board to design and build the photovoltaic power system
  • The AUD 11.1 million project was funded by the Lord Howe Island Board and the Australian Renewable Energy Agency (ARENA)
  • Consisting of solar panels with a combined capacity of 1.3 MWp connected to a 3.7 MWh Tesla Powerpack battery energy storage system, the power plant has now been supplying clean electricity to the island community for over six months, demonstrating the reliability of solar PV technology

Amsterdam/Sydney - 16 September 2021 - Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) ('Photon Energy Group', the 'Group') announced that Photon Energy Engineering Australia Pty Ltd ('Company'), the Group's subsidiary dedicated to engineering, procurement and construction (EPC) services in Australia, has delivered a hybrid renewable energy project to its client, the Lord Howe Island Board. The Board is responsible for the care, control and management of Lord Howe Island, New South Wales. The Company was contracted to design and build the photovoltaic system.

'The announcement of this project is a fantastic result for the Lord Howe Island community and visitors alike. We are reducing the environmental impact of our energy supply while also improving energy security. Achieving this without detracting from the World Heritage values of Lord Howe Island is a result that everyone should celebrate,' said Mick Pettitt, acting CEO of the Lord Howe Island Board.

'We are very pleased with the success of this project for the Lord Howe Island community. The experience we have gained through the delivery of the project demonstrates that solar power and energy storage not only reduce emissions and other environmental risks but are instrumental in ensuring energy security,' said Michael Gartner, CTO of Photon Energy Group and Managing Director of Photon Energy Australia.

Lord Howe Island, a UNESCO World Heritage Site, is located in the Tasman Sea, 700 km north-east of Sydney. The ground-mounted solar PV and Powerpack system was specially designed for a remote location, and is integrated with the local microgrid and diesel generators, which previously formed the main source of power for the island community.

The system has now been supplying clean electricity to the island community for over six months, including stretches of up to five consecutive days and nights in August without any additional diesel-generated power. This is a clear demonstration of the reliability of solar PV and battery technology, even during the less sunny winter months. Real-time system production information is available online at: http://photonscada.com/data/perspective/client/LHI.

The system is comprised of 3,240 photovoltaic modules with a combined capacity of 1.328 MWp connected to a 3.712 MWh Tesla Powerpack controlled by a Tesla Microgrid Controller. Work commenced in February 2020 and was completed over a 14-month period.

Through ARENA, the federal government provided AUD 4.5 million towards this AUD 11.1 million project. The Lord Howe Island Board secured a NSW Government loan of AUD 5.9 million, and has provided the balance of funds from its own capital.

More information about the project is available at: https://www.photonenergy.com/en/photon-energy/case-studies/hybrid-solar-system-for-a-unesco-world-heritage-site.html.

About Photon Energy Group

Photon Energy Group delivers solar energy and clean water solutions around the world. Its solar power services are provided by Photon Energy; since its foundation in 2008, Photon Energy has built and commissioned solar power plants with a combined capacity of over 110 MWp and has power plants with a combined capacity of over 89 MWp in its proprietary portfolio. It is currently developing projects with a combined capacity of over 590 MWp in Australia, Hungary, Poland and Romania and provides operations and maintenance services for over 300 MWp worldwide. The group's second major business line, Photon Water, provides clean water solutions including treatment and remediation services, as well as the development and management of wells and other water resources. Photon Energy N.V., the holding company for Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt Stock (Quotation Board) Exchanges. The company is headquartered in Amsterdam, with offices in Australia and across Europe.

About Lord Howe Island - lordhoweisland.info

Lord Howe Island is located in the South Pacific Ocean approximately 700 km north east of Sydney and is part of NSW. The Lord Howe Island Board is a state government agency charged with the care, control and management of the Island under the Lord Howe Island Act 1953. The Island is crescent shaped, approximately 11 km long and 3 km wide with a land area of 1,455 hectares. A coral reef 6 km long encloses a lagoon on the Western side. The lower central section of the Island, which supports the settlement area, is located between a northerly range of hills (up to 209 m) and a rugged southern landscape dominated by two spectacular mountains, Mount Lidgbird (777 m) and Mount Gower (875 m). There are approximately 350 residents and tourism is the major industry and source of income on the Island. Approximately 16,000 people visit the Island each year and there are 21 accommodation lodges. Lord Howe Island is well known for its outstanding bushwalking, fishing, diving and surfing and there are a number of very good restaurants catering to both visitors and local residents. The Island is linked by regular passenger air services to Sydney and Port Macquarie. A ship provides regular cargo services between the Island and Port Macquarie on the NSW north coast.

Media Contact

Martin Kysly

Photon Energy Group
Head of Marketing and Corporate Communications
Tel. +420 774 810 670
E-mail: martin.kysly@photonenergy.com

Related links

Project case study

Real-time power generation monitoring

Lord Howe Island renewable project page

Lord Howe Island

Australian Renewable Energy Agency (ARENA)

Disclaimer

Photon Energy NV published this content on 16 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 08:41:09 UTC.


© Publicnow 2021
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Financials
Sales 2020 28,3 M 32,9 M 32,9 M
Net income 2020 -8,65 M -10,1 M -10,1 M
Net Debt 2020 90,2 M 105 M 105 M
P/E ratio 2020 -76,6x
Yield 2020 -
Capitalization 93,3 M 108 M 109 M
EV / Sales 2019 4,24x
EV / Sales 2020 8,22x
Nbr of Employees 142
Free-Float 22,7%
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