Photon Energy NV Connects Solar Park in Romania's Arad County
- Amsterdam-based Photon Energy NV connects its first utility-scale photovoltaic (PV) plant in Romania's Arad County, producing 8.7 GWh of electricity annually and expected to receive around EUR 1.4 million in revenues.
What happened?
Photon Energy NV, an Amsterdam-based solar power producer, has connected to the grid a 5.7-MWp solar park in Romania's Arad County, its first utility-scale photovoltaic (PV) plant in the Balkan country. The PV park, located in the municipality of Siria, covers more than 9.3 hectares of greenfield land areas and is equipped with 10,600 panels mounted on single-axis trackers. It is expected to produce around 8.7 GWh of electricity annually and the output will be fed into the grid managed by Enel E-Distributie Banat. The power will be sold on a merchant basis without any power purchase agreements (PPAs). According to Photon Energy, it expects to receive around EUR 1.4 million in revenues based on the current forward prices for electricity base load in Romania in the next 12 months.
Why does it matter?
The commissioning of Photon Energy's first utility-scale PV plant in Romania is highly significant as it provides an opportunity to expand the company's local IPP portfolio to over 120 MWp. The solar park will generate clean electricity, which is a major step towards reducing the country's carbon footprint. Additionally, the company will receive around EUR 1.4 million in revenues in the next 12 months, thereby boosting its profitability. Moreover, the PV park will create jobs in the region and also contribute to the local economy.
What's next?
In the next few months, Photon Energy plans to bring online 26 MWp of new capacity in Romania and expand its local IPP portfolio to over 120 MWp. Moreover, an additional 220 MWp of PV projects are in the pipeline, which will further contribute to the growth of the company. Additionally, the company is exploring further opportunities to expand its presence in Romania and other CEE markets.