Photon Energy begins construction on 5.5 MWp Hungarian solar PV projects

Photon Energy has started construction as EPC contractor on eight photovoltaic power plants with a total capacity of 5.5 MWp in Almásfüzitő, Hungary.

The project involves the development of solar PV parks located in Hungary. The eight facilities of 498 kW each will be installed in the vicinity of the Hungarian village Almásfüzitő located some 75 km northwest of Budapest near the Slovak border. Covering an area of 6.96 hectares, the power plants will be composed of almost 20,000 Jinko modules that are designed to generate around 6.6 GWh of electricity per year. 

Photon Energy will deliver the engineering, procurement and construction services through its subsidiary Photon Energy Solutions HU Kft. Once connected to the grid, the group’s subsidiary Photon Energy Operations HU Kft will provide long-term monitoring as well as operations and maintenance services to the systems. All eight power plants will become part of the Group’s proprietary portfolio.

Photon Energy will own and operate the projects through the Group’s wholly owned company Rácio Master Kft. The subsidiary owns eight KÁT licenses that entitle the power plants to a feed-in tariff of 32 HUF per KWh (approx. US$0.11 kWh) over a period of 25 years with a maximum approved and supported production of 15,500 MWh per license. Total annual revenues of all power plants are expected to amount to around EUR 660,000. The total construction cost of the eight power plants is estimated at around EUR 6.1 million.