April 13 (SeeNews) – Dutch-based solar energy and clean water solutions group Photon Energy said on Thursday that its subsidiary Photon Energy Engineering Romania has completed and connected to the grid three photovoltaic (PV) power plants with a total generation capacity of 6 MWp.
Located on 10.2 hectares near Calafat, Dolj county the three plants are expected to generate 1.4 million euro ($1.5 million) in revenues based on the current forward prices for electricity base load in Romania over the next twelve months, Photon Energy said in a press release.
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“The power plants in Calafat mark another important step in our efforts to commission our first batch of eight power plants with a total capacity of 31.5 MWp in Romania for which we recently closed the project financing,” Georg Hotar, CEO of Photon Energy Group, said.
Equipped with some 10,800 solar panels, the three plants in Calafat are owned and operated by a special-purpose company fully owned by Photon Energy Group. The three plants bring the company’s independent power producer (IPP) portfolio to 92 total solar power plants with a combined capacity of 103.6 MWp. Currently, a total capacity of over 87 MWp is selling clean energy directly on the energy market.
The company is developing PV projects with a combined capacity of over 235 MWp in Romania, of which a capacity of 19.5 MWp is set to be commissioned in the coming months. The remaining Romanian projects in the company’s project development pipeline are expected to be built and commissioned during 2023 and 2024.
In February, Photon Energy also delivered a 5.7 MWp utility-scale PV power plant in western Romania, its first in the country, the company said in a press release at the time. In March, the company secured a 21.9 million euro loan from Raiffeisen Bank International (RBI) to fund its ongoing solar energy projects in Romania.
Photon Energy N.V., the holding company for Photon Energy Group, is listed on the stock exchanges in Warsaw, Prague and Frankfurt. The company is headquartered in Amsterdam, with offices across Europe and in Australia.