Photon Power secures EUR 22m for Romanian PV tasks

Amsterdam-based solar energy producer Photon Power NV (WSE:PEN) has secured EUR 21.9 million (USD 23.3m) for its portfolio of photovoltaic (PV) tasks in Romania which includes eight vegetation with a complete put in capability of 31.5 MWp.

The corporate has closed a non-recourse mission refinancing settlement with Austrian Raiffeisen Financial institution Worldwide (RBI) that has a five-year interval, a press launch stated on Monday.

Photon began the development of the eight energy vegetation in 2022. The websites are positioned in Siria, Aiud, Teius, Calafat, Sahateni and Faget and use bi-facial monocrystalline PV modules mounted on single-axis trackers with a DC/AC overbuild ratio of 1.28 to 1.34.

The power in Șiria was the first to be commissioned earlier this yr and the opposite property are set to go surfing by the tip of the second quarter of 2023.

The electrical energy produced by the Romanian websites will likely be bought by way of the nation’s electrical energy and fuel market operator OPCOM at market costs.

Along with the eight energy vegetation, Photon at present has utility-scale photo voltaic PV tasks with a mixed capability of over 210 MWp at completely different levels of growth in Romania.

The settlement with RBI marks Photon’s first mission financing of European PV property that function on a service provider foundation, promoting power to the market with out a energy buy settlement (PPA) or state assist, the press launch stated.

(EUR 1 = USD 1.063)

Choose your newsletter by Renewables Now. Join for free!


Leave a Reply