Photon Energy N.V Breaks Ground on 7.1 MWp Power Plant ináRomania, Remaining on Track to Add 32 MWp by Year-End 2022
September 14, 2022 at 05:10 am EDT
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Photon Energy N.V. announced that it has broken ground on the construction of its seventh Romanian PV power plant, which will have a generation capacity of 7.1 MWp. Located near Sahateni in the county of Buzau, the power plant will extend over 10 hectares of greenfield land and will be equipped with some 12,700 solar panels. High-efficiency bifacial solar modules mounted on single-axis trackers will deliver around 11.4 GWh of renewable energy annually to the grid of SDEE Electrica Muntenia Nord. The electricity generated will be sold on the energy market on a merchant basis, without any governmental support or a power purchase agreement with an energy offtaker. The new power plant is scheduled to commence operations in the fourth quarter of 2022. Upon the commissioning of the installation, the Company will own and operate 95 solar power plants. Of the total 120 MWp generation capacity, a combined 104 MWp will be selling subsidy-free clean electricity directly on the energy market. The Sahateni power plant will be owned and operated by a special-purpose company fully owned by Photon Energy Group.
The Company is currently developing PV projects in Romania with a total capacity of 242.8 MWp, with a total 28.3 MWp under construction, including the installation in Sahateni. 3.6 MWp is now at the ready-to-build stage of development. Including the Romanian projects, the Company has a combined capacity of 892 MWp under development in its key CEE markets and Australia. The remaining project development pipeline in Romania is expected to be built and commissioned in 2023 and 2024 and thus the Romanian market will significantly contribute to the Company's goal of expanding its IPP portfolio to at least 600 MWp globally by the end of 2024.
Photon Energy N.V. is specialized in the development, construction and operation of photovoltaic power plants. In addition, the group offers water-related services. The turnover (before elimination of intragroup revenue) is divided across the following activities:
- ownership and management of photovoltaic power plants (53.4%): at the end of 2021, 87 photovoltaic power plants owned with an installed capacity of 90.5 MWp;
- trading in photovoltaic system components (22.9%);
- engineering, development and construction of turnkey photovoltaic systems (15.3%);
- technical management, maintenance and control of facilities (7.1%): management of photovoltaic power plants with an installed capacity of 309 MWp;
- other (1.3%): development of solar projects and water treatment services, remediation of contaminated land, management of wells and other water resources, etc.
The geographical breakdown of the turnover is as follows: Czech Republic (60.4%), Hungary (19.7%), Australia (16.4%), Slovakia (2.5%) and other (1%).
PHOTON ENERGY N.V. 
