Storage component of 92 MW Solar project connected to the grid

The storage component of the Parau 1 project in Romania was connected to the electricity grid, with a capacity of 70 MW (141 MWh). The Project is wholly owned, indirectly, by Econergy International Limited (Econergy UK), a subsidiary of the Company.

The total construction cost of the storage capacity is EUR 21,343,000 (US$ 24,831 thousand) and the projected annual revenues of Econergy UK from asset management services (AM Revenues) are EUR 390,000 (US$453,746).

The photovoltaic (PV) component of the Parau 1 project (92 MW) was connected to the electricity grid in 2024 and has been in commercial operation since. With the addition of the storage component, Parau 1 becomes a co-located project. The storage component also has dedicated charging capacity from the electricity grid ("Import Capacity") - a feature not typically found in storage facilities co-located with generation assets. This allows the facility to charge directly from the grid and not only from the PV plant, increasing operational flexibility. For example, it can charge from the grid when electricity prices are low or negative and discharge when prices are higher, optimizing returns according to market conditions.