June at Photon Energy Group

Our proprietary portfolio of PV power plants produced 13.3 GWh of electricity. On year-to-date basis 47.6 GWh of electricity was produced compared to 37 GWh during the same reporting period last year, an increase of 28.7%. This represents an avoidance of 18,873 of CO₂ emissions for the first five months in 2021. We are currently developing PV projects with total capacity of 541 MWp.

In June we announced our growth strategy for 2021 – 2024 with a plan for the expansion of our proprietary portfolio of PV power plants to at least 600 MWp.

We raised EUR 7.7 million through the offering of 5 million existing treasury shares to qualified investors.

We made a follow-on equity investment of AUD 3 million (EUR 1.9 million) in RayGen Resources, maintaining a 9% stake in the company.