Photon Energy connects 5.5 MWp of solar in Hungary

Construction of a solar park in Hungary. Source: Photon Energy

March 7 (Renewables Now) - The Hungarian unit of Photon Energy NV (WSE:PEN) has built and connected to the grid eight solar photovoltaic (PV) plants totalling 5.5 MWp in the village of Almasfuzito, Hungary.

The Almasfuzito plants have expanded the group’s PV portfolio to 37.1 MWp, the Amsterdam-based solar company said Wednesday. Their combined output is projected to be 6.8 GWh per year.

The company’s wholly-owned subsidiary Racio Master Kft will own and operate the parks. Racio Master owns eight obligatory offtake (KAT) licences that entitle the power plants to a 25-year feed-in tariff (FiT) set at HUF 32,000 (EUR 101.5/USD 114.8) per MWh. The maximum approved and supported production is 15.5 GWh per licence.

The eight plants are expected to generate annual revenues of EUR 680,000 (USD 769,471), Photon Energy said.

The company has so far connected a total of 11.5 MWp of solar to the Hungarian grid. The portfolio comprises 17 individual KAT-licenced PV power plants for which the company obtained long-term non-recourse project financing from K&H Bank, the Hungarian arm of Belgium's KBC Group NV, in January 2019. More specifically, Photon Energy has one 500-kWp system, up and running since March 2018, eight plants with a combined capacity of 5.5 MWp operational since December 2018, and now the Almasfuzito plants.

(HUF 1.0 = EUR 0.0032/USD 0.0036)

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