Photon Energy eyes five-fold EBITDA development by 2024

• Amsterdam-based Photon Energy NV (WSE: PEN) will look for to expand its fleet of installed solar generation capability to at least 600 MWp and construct a 1-GWp portfolio of operations as well as upkeep (O&M) assets by 2024.

The renewable energy company introduced the objectives on Thursday as part of its growth strategy for the 2021-2024 period. Currently, the team has 74.7 MWp of solar parks in operation in the Czech Republic, Slovakia, Hungary and also Australia, along with 300 MWp of power plants it manages under O&M contracts.

Photon Energy's new strategy outlines the trajectory of producing "several revenue streams" via its energy service as well as grid support services as well as additionally creating its water services department. According to the suggested growth of the electricity generation property base, the business will seek a goal of having a 1.5-GWp pipe of solar projects, developed either inside or with collaborations, so as to sustain its company past 2024, it stated.

The firm will certainly also expand the design, procurement and construction (EPC) service as well as launch online sales of solar products, batteries and various other components.

Economically, Photon Energy will certainly target at a five-fold rise in earnings prior to passion, tax obligation, depreciation and also amortisation (EBITDA) in 2024, as contrasted to 2020 numbers.

The Dutch firm will certainly fund its passions by utilizing operating capital, selling project civil liberties, re-financing financial obligation and also bond issuances. It additionally plans to provide to 7 countless existing treasury shares, currently valued at around EUR 18 million (USD 21.9 m), elevating funds to purchase new projects and also in the construction of projects having gotten to the shovel-ready stage.