Photon Energy secures financing for 11.5 MWp in Hungary

Green Energy

Global solar power solutions and services company, Photon Energy, announced that it has closed a long-term non-recourse project financing agreement for its 11.5 MWp proprietary PV power plant portfolio in Hungary, according to a press release sent to the Budapest Business Journal. 

The portfolio is comprised of 17 individual KÁT-licensed PV power plants in three different locations. Financing amounting to HUF 3.33 billion is being provided by K&H Bank, the Hungarian subsidiary of Belgian KBC Group N.V. and one of Hungary’s largest banking and financial services firms, as well as a leading local player in project finance, for a period of 15 years.

The 0.5 MWp project in Fertőd (189 km west of Budapest) was grid-connected in March 2018. Eight projects in Tiszakécske (121 km southeast of Budapest), with a combined capacity of 5.5 MWp, were connected in December 2018, and an additional eight projects in Almásfüzitő (82 km northwest of Budapest), with a total capacity of 5.5 MWp, are expected to be connected by the end of January 2019.

The group delivered the engineering, procurement and construction services for all power plants through its subsidiary Photon Energy Solutions HU Kft. The group’s subsidiary will provide long-term monitoring as well as operations and maintenance services to the power plants. Photon Energy covers the entire lifecycle of solar power systems.

Since its foundation in 2008, the company has built and commissioned more than 60 MWp of solar power plants across two continents and supplied the technology for many more projects. The company is headquartered in Amsterdam and has offices in Europe and Australia. 

ADVERTISEMENT

17% of homeowners plan renovations this year Analysis

17% of homeowners plan renovations this year

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.