Photon Energy Solutions has completed and connected the first two of ten solar PV plants to the grid network operated by E.ON in Hungary.
The two solar PV systems have a combined capacity of 2.8MWp and are located in the town of Pàƒ¼spàƒ¶kladàƒ¡ny.
And the plants will sit alongside another eight PV farms that Photon is currently building which will have a combined capacity of 11.3MWp.
The grid connection of another six power plants is scheduled to take place at the end of October, with the remaining two expected to be commissioned at the end of November.
The completion of the two solar plants increases Photon Energy’s installed base in Hungary to 37.8MWp and its global proprietary portfolio of power plants to 63.4MWp.
The two new plants extend over 4.3 hectares and are expected to generate around 4.1GWh of electricity per year.
Photon will operate the new plants through two wholly-owned project companies, each of which possesses a license that entitle each plant to a de facto feed-in tariff (in the form of electricity sales on the energy spot market plus a contract-for-difference) of around €93 ($109) per MWh.
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Both power plants are entitled to a maximum approved and supported production of approximately 38,400MWh per license over a period of 17 years and 11 months. The combined annual revenues of the two power plants are expected to be $448,000.
Georg Hotar, CEO of Photon Energy, said: ‘We are very proud to commission the first two of ten power plants in the location of Pàƒ¼spàƒ¶kladàƒ¡ny, Hungary. Along with our first 14MWp merchant project in the Australian market, which is scheduled to be grid-connected before the end of this year, these two new and the additional eight yet-to-be-commissioned additions will expand our Hungarian and global PV portfolio of power plants to 49.1MWp and 88.6MWp, respectively, by the end of 2020.’