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Romania: Photon Energy Group opens three new solar power plants

Photon Energy Group, a solar energy company, announces the commissioning of three solar photovoltaic plants in Romania. With a total capacity of 6 MWp, these new facilities will generate 9.6 GWh of renewable energy each year without any government subsidy.

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Photon Energy N.V. announced today the commissioning of three solar photovoltaic (PV) plants near Calafat, Romania, with a combined generating capacity of 6.0 MWp. This facility brings the number of solar power plants the company owns and operates worldwide to 92, with a capacity of 103.6 MWp.

An important step for Photon Energy Group

Calafat’s plants are equipped with high-efficiency bifacial solar panels mounted on single-axis trackers, which are expected to generate approximately 9.6 GWh of renewable energy annually, representing a projected revenue of 1.4 million euros for the next 12 months, based on current forward prices for base load electricity in Romania.

The Calafat plants are operated by a special purpose company wholly owned by Photon Energy Group, and are located on 10.2 hectares of virgin land in Dolj County, Romania. This installation marks an important step in the company’s efforts to commission its first set of eight plants with a total capacity of 31.5 MWp in Romania, for which it recently secured project financing.

Photon Energy Group in full development

“We are delighted to commission three new plants in Romania, one of our key markets in Central and Eastern Europe, which contribute to the growth of our revenue stream through clean power generation,” said Georg Hotar, CEO of Photon Energy Group. “The Calafat plants mark an important milestone in our efforts to grow our IPP portfolio, which recently surpassed the 100 MWp mark.”

The company is currently developing utility-scale solar PV projects with a combined capacity of more than 930 MWp in Australia and in its major markets in Central and Eastern Europe, including more than 235 MWp in Romania. A total of 19.5 MWp of capacity is expected to be commissioned in the coming months, while the remaining projects in the company’s development pipeline are expected to be constructed and commissioned in 2023 and 2024.

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