Photon Energy breaks ground on 5.5-MWp solar project in Hungary

Source: Photon Energy Australia (www.photonenergy.com.au).

October 25 (Renewables Now) - Photon Energy Solutions HU Kft, a subsidiary of Amsterdam-based Photon Energy NV, said yesterday it has begun construction work on eight solar parks in Hungary with a combined capacity of 5.5 MWp.

Each of the photovoltaic power (PV) plants has a grid connection capacity of 495 kW and together they will cover an area of 7.9 hectares (19.52 acres) near the town of Tiszakecske. The facilities will use a total of 20,000 Jinko polycrystalline modules and are expected to generate some 6.7 GWh of electricity per year. The connection to the grid of local network service provider E.on Tiszantuli Aramhalozati Zrt is seen to happen before the end of 2018.

The construction cost is estimated at around EUR 5.8 million (USD 6.6m). Upon completion, the plants are expected to generate EUR 660,000 in revenues per year.

The solar parks will be added to the proprietary portfolio of Photon Energy and when connected to the grid, their long-term monitoring, operations and maintenance will be assumed by Photon Energy Operations HU Kft.

The projects will be owned and operated by Photon Energy subsidiaries with KAT licences tied to a feed-in tariff (FiT) of HUF 32 (USD 0.112/EUR 0.099) per kWh over a period of 25 years. The maximum approved and supported production will be 15,575 MWh per licence.

(EUR 1.0 = USD 1.137)

(HUF 100 = USD 0.351/EUR 0.309)

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