The power plant, located near Săhăteni in Romania's Buzău County, will cover an area of 10 hectares and will be equipped with around 12,700 solar modules.
High-efficiency bifacial solar modules mounted on single-axis trackers will feed approximately 11.7 GWh of renewable energy annually into the SDEE Electrica Muntenia Nord grid, which will be sold on the energy market on a merchant basis, i.e., without any support or power purchase agreement with an energy buyer. The new power plant is expected to be operational in the fourth quarter of 2022.
Subsidy-free clean power for the energy market
"We are very pleased to build another power plant in Romania, one of our key CEE markets, and to implement our growth strategy as announced in our 2022 financial forecast," said Georg Hotar, CEO of Photon Energy Group, headquartered in Amsterdam, the Netherlands. "The power plant in Săhăteni is another important step in our efforts to bring a total capacity of around 32 MW into operation in Romania by the end of 2022. These new plants alone will bring our IPP portfolio to over 120 MW by the end of the year."
Did you miss that? Sungrow supplies 154 MW PV plant in Romania
Once this plant is commissioned, the company will own and operate 95 solar power plants with a total capacity of 120 MW in its IPP portfolio. Of this total, 104 MW will directly sell subsidy-free clean power in the energy market. The power plant will be operated by a special purpose vehicle wholly owned by Photon Energy Group.
Project pipeline of 242 MW in Romania
Currently, the company is developing PV projects in Romania with a total capacity of 242.8 MW, of which 28.3 MW are under construction, including the plant in Săhăteni. In addition, 3.6 MW is currently in the construction-ready development phase.
Globally, the company is developing PV projects in its main CEE markets and Australia with a total capacity of over 892 MW including the above mentioned capacity in Romania. The remaining project development pipeline in Romania is expected to be built and commissioned in 2023 and 2024, so the Romanian market will contribute significantly to the company's goal of expanding its IPP portfolio to at least 600 MW globally by the end of 2024. (hcn)
Also interesting: R.Power enters Romanian PV market
