Photon Energy payments 8 brand-new PV Power Plants in Hungary

• Photon Energy informed that its subsidiary Photon Energy Solutions HU Kft. has actually finished as well as grid-connected 8 photovoltaic nuclear power plant with a complete set up capability of 5.4 MWp in the district of Tata, Hungary. This most current enhancement increases the Group's mounted base in Hungary to 31.5 MWp as well as its overall exclusive profile of PV nuclear power plant to 57.1 MWp.

The 8 nuclear power plant are attached to the grid of E.ON Eszak-dunantuli Aramhalozati Zrt. and also are anticipated to produce around 7.35 GWh of electrical power annually. 6 out of the 8 usage monitoring modern technology enabling solar components to adhere to the training course of the sunlight (single-axis radar); 2 harvest solar power at a dealt with angle (fixed-mount system).

For Photon Energy these are the initial PV nuclear power plant developed utilizing single-axis radar, which are anticipated to attain a 15-20% greater details efficiency.

"We are thrilled to attach an additional 5.4 MWp of PV nuclear power plant to the grid, presently adding 31.5 MWp of PV capability to the Hungarian power mix. With an additional 17.7 MWp of PV nuclear power plant at the sophisticated phase of building and construction (3.5 MWp) and also under growth (14.2 MWp), we stay well on the right track to provide our year-end 2021 objective of 75 MWp of Hungarian PV nuclear power plant in our exclusive profile," claimed Georg Hotar, CEO of Photon Energy N.V

The Group will certainly possess and also run the nuclear power plant via 5 wholly-owned project firms that possess 8 KAT licenses. The licenses qualify each nuclear power plant to a feed-in toll of 33,360 HUF per MWh (approx. EUR 99 per MWh) over a duration of 25 years with an optimum sustained and also accepted manufacturing of 25,650 MWh per permit (radar) as well as 16,475 MWh (fixed-mount system). Overall yearly profits of all 8 nuclear power plant are anticipated to total up to EUR 728,000.

Complying with the revaluation of the Group's exclusive profile according to IAS 16, around EUR 2.2 million will certainly be tape-recorded as the Group's Other Comprehensive Income in the Q1 2020 Consolidated Income Statement.