Photon Energy to top up green bond to EUR 65m

Fertod II solar parks in Hungary. Image by Photon Energy (www.photonenergy.com)

May 26 (Renewables Now) - Amsterdam-based solar and water solutions company Photon Energy NV (WSE:PEN) has decided to increase its existing green bond due in 2027 by up to EUR 10 million to a total of up to EUR 65 million (USD 69.26m).

The new notes will be placed with qualified investors in Germany as well as other countries, excluding the USA, Canada, Australia and Japan, Photon Energy said on Wednesday.

The company will use the fresh capital to invest in new opportunities in the solar energy market and to further expand its own portfolio of photovoltaic (PV) power plants with a focus on the solar “hot spots” Hungary, Romania and Poland.

Frankfurt-based lender Bankhaus Scheich Wertpapierspezialist AG is acting as the sole global coordinator of the transaction.

The EUR-55-million bond was issued in November 2021 and bears a coupon of 6.5%.

Currently, Photon Energy is developing projects in Australia, Hungary, Poland and Romania with a combined capacity of 777 MWp.

(EUR 1 = USD 1.066)

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