October 22 (Renewables Now) - Amsterdam-based Photon Energy NV (WSE:PEN) on Monday said it had commissioned 5.6 MWp of solar photovoltaic (PV) farms in the town of Monor, Hungary.
Eight solar farms, with an estimated production totalling some 6.9 GWh per year, were connected to the grid of local power distributor NKM Aramhalozati Kft.
Photon Energy will own the solar farms and operate them through its wholly-owned project company, which holds eight obligatory off-take (KAT) licences that entitles it to a 25-year feed-in tariff (FiT) set at HUF 32,590/MWh (USD 110.06/EUR 98.76). The maximum approved and supported production is 16,950 MWh per licence.
Photon Energy expects the eight solar farms to pull in EUR 680,000 (USD 757,800) in projected annual revenues.
With the new farms online, Photon Energy’s proprietary PV portfolio has grown to 44.8 MWp.
(EUR 1.0 = USD 1.11)
(HUF 100 = USD 0.34/EUR 0.30)