Photon Energy posts record income, eyes merchant solar possibilities

• Solar project developer and also possession owner Photon Energy Group saw its profits reach a brand-new high last year thanks to the sale of electrical power from its growing portfolio of PV plants.

Netherlands-headquartered Photon published 2021 revenue of EUR36.4 million (US$ 41.1 million), a 29% increase year-on-year, with its portfolio currently containing 90.5 MWp of solar plants throughout 4 markets: the Czech Republic, Slovakia, Hungary and Australia. EBITDA grew 14% to EUR9.6 million.

In December, the company attached a 1.4 MWp solar project in Hungary, the company's very first European power plant to market electrical power on a merchant basis.

Offered the growth in power rates across Europe, Photon stated selling power right into the market "is a core part of our method, and also our team believe that this is properly of structure and also running power plants moving forward".

In Q4, Photon secured a 1,200-hectare website in South Australia that it will make use of to develop a 300MW solar plant including 3.6 GWh of energy storage space based on technology from RayGen, a Melbourne-based start-up that Photon obtained a minority passion in back in 2020.

In terms of project development in Europe, Photon last year greater than doubled its pipe in Hungary, Poland as well as Romania to 490MWp.

The company claimed while its focus for development will certainly get on broadening PV ability in Australia, Hungary, Poland and also Romania, it is likewise investigating additional markets in Central Europe, Central and South America, the Middle East as well as Africa.

Together with solar growth and generation, the group has another significant business line, Photon Water, which gives clean water solutions.

Georg Hotar, CEO of Photon Energy Group, stated the firm is aiming to expand its behind-the-meter solar organization, providing commercial clients remedies used by Photon Water, adding: "This fits perfectly with our strategy to combine renewable energy and also clean water in solutions for individuals of both."