"We are pleased to have expanded our portfolio of operational photovoltaic assets by another 3.9 MWp in Romania. This latest addition completes the expansion of our portfolio in Romania to a total of nine power plants with a total installed capacity of 35.4 MWp in 2023, along with four more power plants with a combined installed capacity of 16.9 MWp under construction and expected to be put into operation in the coming months. Considering the solid portfolio of projects and the dynamic evolution of the market, we anticipate a year full of activity in Romania in 2024", said Georg Hotar, CEO of Photon Energy Group.

The total annual output of the new power plant is expected to be approximately 5.8 GWh. The bifacial modules mounted on a single-axis tracker structure will supply clean energy to the network managed by E-Distribuție Banat. The electricity produced will be sold on the power market on a commercial basis, without any government support and a power purchase agreement with a power distributor.

The company expects the plant to generate revenues of approximately €550,000 in 2024. The company's Independent Power Producer (IPP) portfolio now includes 97 solar plants with a combined generating capacity of 127.3 MWp.

The company is currently developing utility-scale solar PV projects with a combined capacity of over 1.2 GWp MWp in Australia and its core markets in Central and Eastern Europe, including approximately 220 MWp in Romania, of which a total capacity of 16.9 MWp is in an advanced construction stage.