January 10 (SeeNews) - Dutch-based solar energy and clean water solutions group Photon Energy said on Wednesday it has connected to the grid a new 3.9 MWp solar photovoltaic (PV) power plant in Romania, expanding its portfolio of operating assets in the country.
The company expects the new plant, located near Faget in the western Timis county, to generate some 550,000 euro ($602,150) in revenues in 2024, it said in a press release.
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The new plant will be capable of producing around 5.8 GWh of clean energy annually, which will be sold on the energy market on a merchant basis, without any governmental support or power purchase agreements (PPAs).
"This latest addition rounds up our portfolio expansion in Romania to a total of nine power plants with a total installed capacity of 35.4 MWp in 2023, with an additional four power plants with a combined installed capacity of 16.9 MWp constructed and expected to be commissioned in the following months. With our strong project pipeline and the dynamic growth in the market, we are looking forward to a busy 2024 in Romania," said Georg Hotar, CEO of Photon Energy Group.
Photon Energy N.V., the holding company for Photon Energy Group, is listed on the stock exchanges in Warsaw, Prague and Frankfurt. The company is headquartered in Amsterdam, with offices across Europe and in Australia. Photon Energy is currently developing utility-scale solar PV projects with a combined capacity of over 1.2 GWp in Australia and its key CEE markets, including approximately 220 MWp in Romania.
($=0.9133 euro)