Photon Energy Connects 7.5 MWp Solar PV Power Plant to Grid in Romania
Sydney / Amsterdam, 9 December 2013 –Amsterdam-based Photon Energy Investments (PEI), a division ofglobal solar power solutions and services company Photon EnergyN.V., is announcing the launch of an innovative standardisedfinancing model through its fully-owned subsidiary Photon EnergyGeneration Australia (PEGA). Photon Energy Investments has alreadybeen active in the Australian market since April 2013, when itacquired the largest rooftop PV power plant in the AustralianCapital Territory (ACT), the region around the capitalCanberra.
Solar energy has become a competitive energy source in mostparts of the world, with Australia leading the way. Financingmid-sized PV systems or utility-scale plants is nevertheless verydifficult and currently the main bottleneck for the industry. Thestandardisation of financing is the only possible way ahead. PhotonEnergy’s financing models enable the implementation of a largenumber of PV systems and secure their financing.
PEGA will offer commercial energy users two attractivealternatives to the outright acquisition of a PV system, either inthe form of a Commercial Hire Purchase (CHP) agreement or PowerPurchase Agreements (PPA) with the possibility to acquire the PVsystem later. Both options are based on the installation of a PVsystem on the site of the customer – thereby avoiding grid charges- and do not require any upfront investment. At the same time theyprovide an immediate reduction in cash energy costs. PEGA’s launchis aided by the system of Renewable Energy Certificates (RECs)generated by power plants using renewable energy sources. CHPs willbe signed for an average of 10 years, while PPAs will see PEGAdelivering energy to customers for up to 30 years.
“Photon Energy's financing model includes a top qualitysolar plant and full service over the life of the Hire Purchase orPower Purchase Agreement that ensures cost savings aremaximised", says Michael Gartner, ManagingDirector of Photon Energy Australia.
PEGA’s target customers are mainly companies with a large numberof rooftop properties, such as retail chains, hotels, industrialcompanies and similar enterprises. The company can rely on analready extensive pipeline of projects worth more than 60 MWp andgrowing.
“The launch of PEGA symbolises the achievement of ourmission, which is to provide accessible, clean and affordableenergy,” adds Georg Hotar, CEO of Photon EnergyN.V. “At the same time we are implementing thestrategy highly valued by PEI’s bond investors, focusing on thelong-term ownership of PV assets in markets where grid parity hasalready been achieved”.
“Customers can rely on Photon Energy’s track record ofconnecting over 50 MWp of PV plants to the grid across fourEuropean markets, while having already built the largest rooftop PVsystems in the ACT and Sydney. The crucial ingredient forstandardised financing, however, is Photon Energy’s world-classOperations & Maintenance capabilities, which fundamentallyde-risk PV plants”, concludes Georg Hotar.
MEDIA CONTACT
Jan Krcmar
T +420 773 032 182
E jan.krcmar@photonenergy.com
ABOUT PHOTON ENERGY
Photon Energy NV is aglobal solar power solutions and services company covering theentire lifecycle of solar power systems. The company serves theneeds of clients with extensive know-how in project development,investment management, project finance, insurance, technologysolutions, EPC and O&M. Photon Energy is headquartered inAmsterdam, Netherlands and has offices in Germany, Australia,Canada, Czech Republic, Slovakia and Italy.