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Photon Energy breaks ground on another 3 solar projects in Romania

Renewable energy group Photon Energy has broken ground on the construction of another three Romanian photovoltaic power plants, which will have a combined generation capacity of 6 megawatt-peaks (MWp).

High-efficiency bifacial solar modules mounted on single-axis trackers will deliver around 9.6 gigawatt-hours (GWh) of renewable energy annually to the grid of Distribuție Energie Oltenia. The electricity generated will be sold on the energy market on a merchant basis, without any support or a power purchase agreement with an energy offtaker. The new power plants are scheduled to commence operations in the fourth quarter of 2022.

“We are very excited to continue breaking ground in Romania, one of our key CEE markets, executing our growth strategy as announced in our 2022 Financial Guidance,” said Georg Hotar, CEO of Photon Energy Group. “The power plants in Calafat mark another important step in our efforts to commission a total capacity of around 32 MWp in Romania by the end of 2022. These new assets alone will expand our IPP (independent power producer) portfolio to over 120 MWp by the end of the year.”

Upon the commissioning of these plants, the company will own and operate 93 solar power plants with a combined generation capacity of 108.3 MWp as part of its IPP portfolio. A combined 96 MWp will be selling subsidy-free clean electricity directly on the energy market. In Romania, currently, the group is developing PV projects with a total capacity of 235 MWp, with 120 MWp at an advanced stage of development or under construction.

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