Photon Energy has commenced construction on 10 photovoltaic power plants for its own PV portfolio with a total capacity of 14.1 MWp in Püspökladány (approximately 162 km east of Budapest), according to a press release sent to the Budapest Business Journal.
The new power plants will extend over 19.8 hectares and supply power to the grid of E.ON Tiszántúli Áramhálózati Zrt. The company expects the power plants to generate approximately 20 GWh of clean energy per year.
The group will deliver the engineering, procurement, and construction (EPC) services through its subsidiary Photon Energy Solutions HU Kft.
Once connected to the grid, Photon Energy Operations HU Kft. will provide long-term monitoring as well as operations and maintenance services, the press release says.
"Following the recent announcement of the start of construction of two PV power plants with a combined installed capacity of 14 MWp in Australia, we are very pleased to announce that we are breaking ground on a further 10 large utility-scale power plants in Hungary," notes Georg Hotar, CEO of Photon Energy. "Upon completion, which is scheduled for the fourth quarter of 2020, these new additions will expand our Hungarian and global PV portfolio of our own power plants to 49.1 MWp and 88.6 MWp, respectively."
Photon will operate the power plants through four wholly-owned project companies with a total of 10 METÁR licenses.
Five licenses entitle each power plant to a feed-in tariff of HUF 33,360 per MWh for 15 years and 5 months, with a maximum approved and supported production of 29,955 MWh per license.
The remaining five licenses entitle each power plant to the same feed-in tariff for 17 years and 11 months, with a maximum approved and supported production of 34,813 MWh per license.
The total annual revenues of all 10 power plants are expected to amount to EUR 1.936 million.