Photon Energy boosts Romanian solar capacity to 51.6 MWp

AMSTERDAM/BUCHAREST - Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) has announced the completion and grid connection of a new 3.2 MWp photovoltaic (PV) power plant in Romania, situated near Sărulești in Călărași County. This development expands the company's Romanian portfolio to over 50 MWp, specifically totaling 51.6 MWp across thirteen solar assets.

The Sărulești plant, occupying 4.5 hectares, is equipped with 5,760 bifacial PV modules and single-axis trackers. It is expected to produce about 4.9 GWh annually, contributing clean energy to the grid operated by E Distributie Dobrogea S.A. The anticipated revenue from this plant is projected to be around EUR 400,000 in 2025, based on the current off-take conditions set by Transelectrica, the Romanian electricity transmission system operator.

Georg Hotar, CEO of Photon Energy Group, expressed satisfaction with the growth in the company's operating solar assets, emphasizing the significance of this latest addition to their dynamic expansion in Romania.

The power plant's construction was undertaken by Photon Energy Engineering Romania S.R.L., the group's local subsidiary focused on engineering, procurement, and construction (EPC) services. Post-construction, the plant will operate on a merchant basis, selling electricity on the energy market without government support or a power purchase agreement.

Photon Energy's Independent Power Producer (IPP) portfolio now includes 100 solar power plants globally, with a total generation capacity of 129.7 MWp. In Romania, the company provides a range of services, including project development, EPC, and operations and maintenance (O&M) for PV power plants. They also distribute PV components and construct rooftop installations for commercial and industrial clients.

This expansion aligns with Photon Energy's continued efforts to increase its presence in the Romanian renewable energy sector. The information in this article is based on a press release statement from Photon Energy.

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Source: Investing.com