June 2020 at Photon Energy

15.7.2020

As a result of unfavourable weather conditions in June, the average performance of all power plants in Photon Energy‘s portfolio came in approximately 13.8% below expectations. However, on a year-to-date (YTD) basis, the overall performance of the proprietary portfolio still exceeded forecasts by 7.2%. This is due in part to the addition of new Hungarian plants, which have boosted eletricity generation from 21.4 GWh to 37.0 GWh since this time last year.

Construction has begun on ten power plants with a total capacity of 14.1 MWp in Püspökladány, Hungary. Once they are connected to the grid of E. ON, the Group will provide long-term O&M and monitoring services. The plants are expected to generate approximately 20 GWh per year and will expand our Hungarian portfolio to 49.1 MWp.

Photon Energy is developing PV projects in Australia (738 MWp), Hungary (42.6 MWp) and is evaluating further markets for opportunities. Eleven projects with a total planned installed capacity of 28.5 MWp have been added to the Hungarian project pipeline during the reporting period.

After the reporting period, the Company announced the successful placement of an additional EUR 5.4 million, increasing the total placement of its EUR bond to EUR 43 million. The net proceeds will be used to finance the construction of power plants in Hungary and Australia for the Company’s proprietary portfolio as well as to strengthen the Group’s financial standing.

A prospectus has been submitted to the Dutch financial market regulator (AFM). The Company intends to list its shares on the Quotation Board of the Frankfurt Stock Exchange, which will allow investors in the Eurozone to buy the Company's shares without bearing currency risk.

Download the monthly report here (pdf).

All our reports can be found on the Reports page in our Investor Relations section.

MEDIA CONTACT

Martin Kysly
Photon Energy
T +420 774 810 670

  

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