March at Photon Energy Group

Our proprietary portfolio of PV power plants produced 8.4 GWh of electricity. On year-to-date basis 15.1 GWh of electricity was produced compared to 11.8 GWh during the same reporting period last year, an increase of 28%. This increase is a result of the expansion of our IPP portfolio.

We published our first Sustainability Report. It outlines and forms an integral part of our commitment to responsible environmental, social and corporate governance (ESG) practices, and highlights our sustainability initiatives.

After the reporting period we have closed an agreement to exchange project rights with our development partner Canadian Solar in Australia. As a result, Photon Energy will continue developing the 160 MWp project Maryvale Solar Farm independently, while further development of the Gunning Solar Farm and the Suntop2 Solar Farm projects will be handled by Canadian Solar.

After the reporting period we have announced our second investment in Melbourne-based technology company RayGen Resources Pty Ltd. Photon Energy made an equity investment of AUD 3 million maintaining about 9% in the company. We have announced our initial investment and entered a strategic partnership with RayGen in April 2020.

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