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Hungary becomes Photon’s second largest O&M market

Photon Energy Operations HU Kft., the Hungarian Operations and Maintenance (O&M) subsidiary of Photon Energy N.V., today announced its signing of a 15-year O&M agreement with the owners of 28 photovoltaic (PV) power plants currently under construction, with a combined generation capacity of 15.3 MWp.

The 28 PV power plants are located in Monorierdő, near the town of Monor (about 35 km southeast of Budapest), according to a press release sent to the Budapest Business Journal. Photon Energy plans to construct eight PV power plants in the town for its proprietary portfolio by mid-2019, delivering substantial synergies in the provision of O&M services across all 36 PV power plants.

"We are thrilled to take on the responsibility for operations and maintenance for our client’s 28 PV power plants in Hungary," said Georg Hotar, Photon Energy CEO. "We are looking forward to deploying our Smart Operations approach to maximize energy production, and thus the revenues and profitability of these solar assets. This contract is strong proof that the Hungarian market provides us with substantial growth potential for our O&M business beyond our proprietary portfolio, and we are strongly motivated to replicate our market-leading position held in the Czech Republic."

Photon Energy says that it will provide comprehensive O&M services including plant monitoring, performance management, and preventive and corrective maintenance at all 28 facilities.

All 28 PV power plants in Monorierdő are expected to be operational by the end of the first quarter in 2019. Once completed and operational, the company will be providing O&M services to PV power plants of a total 26.8 MWp capacity in Hungary, turning the country into the group’s second largest O&M market.