Dutch-based solar developer Photon Energy is planning to add 32 MW in solar projects in Romania to its portfolio by the end of 2022.
The statement from the company said that its current development portfolio in Romania stands at 235 MW and that the construction of the company’s first solar project in Romania, a 5.7 MW power plant, has already started.
The solar power plant is located in Siria, Arad county, and it will consist of 10,600 solar panels stretching over 9.3 hectares of land. The power plant will be operate by Siria Solar, fully owned subsidiary of Photon Energy, and should enter commercial operation in the last quarter of 2023. Estimated annual electricity generation is 8.7 GWh, which will be sold on the free market.
CEO Georg Hotar noted that the 32 MW of solar capacity that will be added by the end of the year, will increase the company’s global portfolio to more than 120 MW. Currently, it owns and operates solar portfolio of 97.6 MW, with additional 791.2 MW of solar projects in the pipeline in Australia, Hungary, Poland and Romania.
Photon Energy’s business model relies on the development of photovoltaic project, majority of which will be sold to third parties upon completion.
