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Photon Energyʼs Hungarian portfolio reaches 35 MWp

Photon Energy Solutions HU Kft., Photon Energy N.V.ʼs subsidiary dedicated to engineering, procurement and construction (EPC) services, has completed and grid-connected five PV power plants with a total installed capacity of 3.5 MWp in Hungary, expanding the groupʼs installed base in Hungary to 35 MWp and its total proprietary portfolio to 60.6 MWp.

According to a press release sent to the Budapest Business Journal, the latest Hungarian PV plants are located in Mályi (145 km northeast of Budapest) and Kunszentmárton (120 km southeast of the capital).

The three power plants completed in Mályi extend over 3.9 hectares and are connected to the grid of ÉMÁSZ Hálózati Kft., while the two plants in Kunszentmárton cover 2.3 hectares and supply power to the grid of E.ON Tiszántúli Áramhálózati Zrt.

Together they are expected to generate around 4.2 GWh of electricity per year, Photon Energy says.

The group now owns and operates four power plants in the Kunszentmárton area, with a combined capacity of 2.4 MWp. The first two projects were commissioned in November 2019.

"We are very proud to have achieved this milestone. It confirms not only our amazing teamʼs capability to execute multiple projects in different locations to the highest industry standards, but also their dedication to getting work done, even in these unprecedented times of travel bans and global disruptions to critical supply chains due to the COVID-19 pandemic," said Georg Hotar, CEO of Photon Energy N.V.

The press release says that the group will operate the new power plants through five wholly-owned project companies, each of which possesses either a KÁT or a METÁR-KÁT license.

These licenses entitle each power plant to a feed-in tariff of HUF 33,360 per MWh (approx. EUR 95 per MWh).

The three plants in Mályi (KÁT) are entitled to a maximum approved and supported production of approximately 16,500 MWh per license over a period of 25 years, and the two plants in Kunszentmárton (METÁR-KÁT) are entitled to a maximum approved and supported production of 13,832 MWh per license over 17 years and four months.

Photon Energy expects total revenues of all five power plants to amount to EUR 405,000.