EQS-News: Photon Energy Commissions Three Solar PV Power Plants in Hungary

Photon Energy Commissions Three Solar PV Power Plants in Hungary
 

• The new solar PV power plants, with a total capacity of 5.1 MWp, have commenced operations in Tolna, Hungary, set to operate under a merchant model
• Photon Energy’s proprietary portfolio of PV power plants in Hungary has now reached a total capacity of 57.5 MWp, increasing the Company’s global IPP portfolio to 134.7 MWp
• The total annual production of the power plants is expected to be approximately 6.3 GWh

Amsterdam/Budapest – 17 March 2025 – Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) (the “Group” or the “Company”) has announced that Photon Energy Solutions HU Kft. – the Group's Hungarian subsidiary dedicated to engineering, procurement and construction (EPC) services – has completed and grid-connected three photovoltaic (PV) power plants, adding a total of 5.1 MWp to the country’s renewable energy capacity.

“We are proud to have expanded our portfolio of operating solar PV assets by an additional 5.1 MWp in Hungary. This latest addition brings our portfolio in Hungary to 67 power plants with a combined installed capacity of 57.5 MWp, confirming the dynamic growth in the Hungarian market,” said Georg Hotar, CEO of Photon Energy Group.

Operating under a merchant commercial model, the newly commissioned utility-scale projects — Tolna 2, Tolna 3, and Tolna 5 — are expected to generate approximately 6.3 GWh annually. The clean electricity produced is already being fed into the grid managed by E.ON Dél-dunántúli Áramhálózati Zrt.

The commissioning of these projects was completed within the regulatory deadline set by MEKH on 31 March 2025.

In addition to being valuable additions to Photon Energy’s IPP portfolio, the configurations of these three PV power plants will allow them to provide valuable performance data in the context of the dynamic developments in electricity markets. Each of the three power plants has a grid capacity of 995 KW AC and have been built as follows:

• Tolna 2 has an installed DC generation capacity of 1.49 MWp of bi-facial monocrystalline modules on single-axis trackers and a projected annual electricity generation volume of 2.2 GWh
• Tolna 3 consists of 1.05 MWp of bi-facial monocrystalline modules on single-axis trackers and 0.56 MWp of bi-facial monocrystalline modules on east-west mounting structures with 15 degrees inclination for a total installed DC capacity of 1.61 MWp. The projected annual electricity generation volume is 2.1 GWh
• Tolna 5 has an installed DC generation capacity of 1.96 MWp of bi-facial monocrystalline modules on east-west mounting structures with 15 degrees inclination and a projected annual electricity generation volume of 2.0 GWh

As the three power plants are located very close to each other they will provide valuable data to compare investment and operating costs, the value of their respective production profiles in the electricity market and in terms of their levelised cost of energy (LCOE).

With these new high-quality solar projects, Photon Energy continues to strengthen its role in Hungary’s renewable energy transition, reinforcing the Company’s commitment to delivering reliable and sustainable solar solutions.

About Photon Energy Group – photonenergy.com

Photon Energy Group delivers solar energy and clean water solutions around the world. Its solar power services are provided by Photon Energy; since its foundation in 2008, Photon Energy has built and commissioned solar power plants with a combined capacity of over 180 MWp and owns power plants with a combined capacity of 130 MWp. It is currently developing projects with a combined capacity of 1 GWp in Australia, Hungary, Poland, Romania and South Africa and provides operations and maintenance services for over 1.1 GWp worldwide. The New Energy business has electricity trading licenses in Poland, Hungary, the Czech Republic, Slovakia, and Serbia. The Company is one of the largest providers of DSR services to the Polish TSO with a contracted capacity of approx. 320 MW for 2025, and through its Virtual Power Plant (VPP) aggregates energy generators and consumers with a total capacity of over 480 MW. The Group’s other major business line, Photon Water, provides clean water solutions including treatment and remediation services, as well as the development and management of wells and other water resources. Photon Remediation delivers comprehensive environmental remediation solutions, including patented in-situ technology that has been proven to effectively remove PFAS from groundwater and soil. Photon Energy N.V., the holding company for Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt Stock Exchanges, as well as XETRA, Germany’s leading online trading platform. Photon Energy Group is headquartered in Amsterdam, with offices in Australia and across Europe.

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