Photon Energy (WSE: PEN, the 'Group') announces that itssubsidiary Photon Energy Solutions HU Kft broke ground as EPCcontractor on eight photovoltaic power plants with a total capacityof 5.5 MWp DC in Tiszakécske, Hungary.
The eight solar projects with a grid connection capacity of 495kW each will be installed in the vicinity of the town Tiszakécske,located 86 km southeast of the capital Budapest.
Covering an area of 7.9 hectares, the power plants will be madeup of some 20,000 Jinko polycrystalline modules that are expectedto produce around 6.7 GWh of electricity per year. Subject toweather conditions, the power plants are expected to be connectedto the grid of E.ON Tiszántúli Áramhálózati Zrt beforethe end of the year.
Photon Energy will perform the engineering, procurement andconstruction services through its subsidiary Photon EnergySolutions HU Kft. Once connected to the grid, the Group’ssubsidiary Photon Energy Operations HU Kft will provide long-termmonitoring as well as operations and maintenance services to thesystems. All eight power plants will become part of the Group’sproprietary portfolio.
“Following the pilot installation of our first power plant inHungary, located in the municipality of Fertőd, earlier this year,the start of construction on the first of a series of additionalpower plants represents another milestone towards Photon Energy’scommunicated goal to build 50 MWp of photovoltaic power plants forlong-term ownership in Hungary until 2020,“ comments Georg Hotar,CEO of Photon Energy.
The Group will own and operate these projects through eightfully-owned subsidiaries that each own a KAT license entitling themto a feed-in-tariff of some 32 HUF per KWh (approx. EUR 0.1 perkWh) over a period of up to 25 years, with a maximum approved andsupported production of 15,575 MWh per license. Total annualrevenues of all eight power plants are expected to amount to EUR660,000. The total construction cost of the eight power plants isestimated at around EUR 5.8 million.
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MEDIA CONTACT
Martin Kysly
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E martin.kysly@photonenergy.com
