Amsterdam-based solar power producer Photon Energy NV (WSE:PEN) today said it has connected to the grid a 5.7-MWp solar park in Romania’s Arad County, its first utility-scale photovoltaic (PV) plant in the Balkan country.
The PV park is located in the municipality of Siria, covering more than 9.3 hectares of greenfield land areas. It is equipped with 10,600 panels mounted on single-axis trackers and is expected to produce around 8.7 GWh of electricity annually.
The power output, to be fed into the grid managed by Enel E-Distributie Banat, will be sold on a merchant basis. No power purchase agreements (PPAs) are planned to be signed, Photon Energy said, adding that it expects to receive around EUR 1.4 million (USD 1.5m) in revenues based on the current forward prices for electricity base load in Romania in the next 12 months.
“We are very excited to commission our very first power plant in Romania, one of our key CEE markets, supporting the growth of a recurring revenue stream from clean electricity generation,” said Georg Hotar, CEO of Photon Energy Group.
In Romania, Photon Energy plans to bring online 26 MWp of new capacity in the next few months and thus expand its local IPP portfolio to over 120 MWp. At present, it has 89 solar parks totalling 97.6 MWp in its Romanian fleet, while an additional 220 MWp of PV projects are in the pipeline.
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