November 6 (Renewables Now) - Amsterdam-based Photon Energy NV (WSE:PEN) has commissioned 4.9 MWp of solar photovoltaic (PV) parks in the latest effort to expand its installed capacity in Hungary.
The company said Tuesday its local subsidiary Photon Energy Solutions HU Kft finalised work on seven PV parks and connected them to the grid. The new capacity is installed in the Hungarian municipalities of Fertod and Kuszentmarton.
Five solar parks, collectively named Fertod II, have been added as an extension to the 528-kWp Fertod I -- the group’s first PV project in Hungary, commissioned in March 2018. The remaining two are located in Kuszentmarton.
Photon Energy will own the solar parks and operate them through several wholly-owned project companies. These hold seven obligatory off-take (KAT) licences that entitle them to 25-year feed-in tariffs (FiTs) set at HUF 32,590 (USD 109.009/EUR 98.299) per MWh. The maximum approved and supported production is around 15,600 MWh per licence.
The company expects that, together, the seven parks will produce around 6 GWh of power per year and generate EUR 600,000 (USD 665,400) in total annual revenues.
With the new PV parks online, Photon Energy now operates 24.1 MWp of installed capacity in Hungary. Its proprietary PV portfolio received a boost to 49.7 MWp.
(HUF 100 = USD 0.334 /EUR 0.302)
(EUR 1.0 = USD 1.109)