Photon Energy powers up 1.4-MWp merchant PV plant in Hungary

• Amsterdam-based solar programmer Photon Energy NV (WSE: PEN) claimed on Friday it has actually brought online a 1.4-MWp solar plant in Hungary, increasing its portfolio of proprietary solar farms in the nation to 51.8 MWp.

The most recent addition to the company's operational fleet is a EUR-1-million (USD 1.1 m) solar plant in the town of Tolna that covers greater than 2.8 ha (6.9 acres) of land. It is equipped with bi-facial photovoltaic or pv (PV) modules placed on single-axis trackers and is attached to the power grid of utility E.on Del-dunantuli Aramhalozati Zrt.

The plant's complete yearly outcome is approximated to be around 2.1 GWh, which may result in incomes of EUR 420,000 annually based on existing forward rates for electricity base tons in Hungary in the following one year. The power generation will be sold on the Hungarian electricity market on a merchant basis.

While no power purchase agreements (PPAs) will certainly be involved in the project's operations, Photon stated that such agreements may contribute in the plant's future profits management approach, along with various other hedging options.

With the latest plant going on the internet in Hungary, Photon has 63 solar parks in operation in the country. Internationally, the group has and also runs 88 solar farms with a combined capacity of 91.9 MWp.