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Photon Energy connects to grid 2.1 MWp of PV in Hungary

Nagyecsed solar farm in Hungary. Image by Photon Energy (www.photonenergy.com)

July 5 (Renewables Now) - A local unit of Photon Energy NV (WSE:PEN) has completed three solar photovoltaic (PV) farms for a total of 2.1 MWp in Nagyecsed, Hungary and connected them to the grid.

With the new farms, Photon Energy’s proprietary PV portfolio has grown to 39.2 MWp, the Amsterdam-based solar company said Wednesday.

Photon Energy will own the solar farms and operate them through its wholly-owned project companies Aligote Kft, Matra Kft and Mediator Ingatlankozvetito Kft. Each of them own obligatory off-take (KAT) licences that entitle them to a 25-year feed-in-tariff (FiT) set at some HUF 32 (USD 0.111/EUR 0.099) per KWh. The maximum approved and supported production is 15,075 MWh per licence.

The solar farms are projected to produce around 2.5 GWh of power per year generating annual revenues of some EUR 250,000 (USD 281.665).

According to Photon Energy CEO Georg Hotar, the company has set a target to reach 50 MWp of proprietary power plants in Hungary by the end of 2020.

(HUF 100 = USD 0.35/EUR 0.31)

(EUR 1.0 = USD 1.13)

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Sladjana is the newest addition to the Renewables Now team. She has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry.

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