Photon Energy grows IPP portfolio, gain from 'pivotal year' in Australia

• Photon Energy has reached more than 420MWp of PV projects under growth, as the Netherlands-based renewables company weathered the influences of COVID-19 on its financial efficiency last year.

Throughout 2021, the solid developed PV projects with a combined capability of 23MWp in Hungary, bringing its independent power producer (IPP) portfolio to 74.7 MWp, while its procedures and also upkeep device has actually currently reached greater than 300MWp of solar possessions under management internationally.

The business's largest three markets in terms of had solar projects are Hungary, the Czech Republic as well as Slovakia. It was Australia, nonetheless, where the company took pleasure in a "critical year", thanks partially to the completion of construction at its initial utility-scale power plants, which have actually a combined capacity of 14.6 MWp and also lie in New South Wales.

Last year likewise saw Photon Energy acquire a minority rate of interest in RayGen, a Melbourne-based start-up that has actually created an unique means of incorporating PV, focused solar power and also thermal energy storage space.

Photon shut 2020 with profits of EUR28.3 million (US$ 33 million), a 6.3% decline year-on-year, while EBITDA was up 6.3% to EUR8.4 million. Chief Executive Officer Georg Hotar stated the company's achievements in 2020 "stand as a testimony to our capacity to thrive in spite of unforeseeable scenarios, and I explore 2021 as well as past with utmost confidence in our considerable growth".

This year will see the firm develop as well as create new solar projects in markets such Hungary, Poland, Romania and also Australia. The firm additionally exposed it has actually been accepted by the Australian Energy Market Operator as a small generation collector, enabling it to accumulated tiny generators as much as 5MWp, and also in many cases approximately 30MWp, and sell energy directly into Australia's National Energy Market without the requirement to agreement with an energy seller. The company said this will certainly allow it to produce long-lasting reoccuring revenue streams.

Additionally in Australia, Photon has actually executed an exchange of project rights with its growth companion in the nation, Canadian Solar. Consequently, Photon will certainly continue developing the 160MWp Maryvale plant in New South Wales with a raised 65% risk in the project, while more development of Gunning Solar Farm as well as Suntop 2 Solar Farm will be managed by Canadian Solar.