„The signing of the agreement represents the Group’s second project financing of European PV assets that operate on a merchant basis, selling energy to the market without a power purchase agreement or state support,” according to Photon Energy officials.
As part of the project EBRD will also support the Company in expansion of demand response services, capacity market bonds and the research and development CapEx of Lerta S.A.
„Our decision to commit to the construction of additional PV power plants with a total capacity of 29 MWp and sell electricity into the market represents very strong confidence in the Romanian energy sector, as does the project financing for our projects provided by EBRD,” commented Georg Hotar, CEO of Photon Energy Group.
The EBRD’s loan is enabled by a guarantee from the European Union (EU) under its InvestEU Programme.
Photon Energy is currently developing utility-scale solar PV projects with a combined capacity of over 1.2 GWp in Australia and its key CEE markets, including over 210 MWp in Romania.
(English version by Catalina Apostoiu)