As a result of unfavourable weather conditions in June, theaverage performance of all power plants in Photon Energy‘sportfolio came in approximately 13.8% below expectations. However,on a year-to-date (YTD) basis, the overall performance of theproprietary portfolio still exceeded forecasts by 7.2%. This is duein part to the addition of new Hungarian plants, which have boostedeletricity generation from 21.4 GWh to 37.0 GWh since this timelast year.
Construction has begun on ten power plants with a total capacityof 14.1 MWp in Püspökladány, Hungary. Once they are connected tothe grid of E. ON, the Group will provide long-term O&M andmonitoring services. The plants are expected to generateapproximately 20 GWh per year and will expand our Hungarianportfolio to 49.1 MWp.
Photon Energy is developing PV projects in Australia (738 MWp),Hungary (42.6 MWp) and is evaluating further markets foropportunities. Eleven projects with a total planned installedcapacity of 28.5 MWp have been added to the Hungarian projectpipeline during the reporting period.
After the reporting period, the Company announced the successfulplacement of an additional EUR 5.4 million, increasing the totalplacement of its EUR bond to EUR 43 million. The net proceeds willbe used to finance the construction of power plants in Hungary andAustralia for the Company’s proprietary portfolio as well as tostrengthen the Group’s financial standing.
A prospectus has been submitted to the Dutch financial marketregulator (AFM). The Company intends to list its shares on theQuotation Board of the Frankfurt Stock Exchange, which will allowinvestors in the Eurozone to buy the Company's shares withoutbearing currency risk.
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MEDIA CONTACT
Martin Kysly
Photon Energy
T +420 774 810 670
E martin.kysly@photonenergy.com
