Issuer / Publisher: Photon Energy NV / Keywords: Purchase
Photon Energy Group acquires solar and battery energy storage project in Australia
21.11.2022 / 07:37 CET/EST
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Photon Energy Group acquires solar and battery energy storage project in Australia
- Located in Boggabri, New South Wales, the plant will have a generating capacity of 9.8 MWp and is expected to generate around 16.4 GWh of renewable energy annually.
- The project, which includes a 10 MWh battery storage system, is the company’s first plus solar storage facility and will serve as a prototype for future solar and storage projects in Photon Energy Group’s European markets.
- Upon completion, the Boggabri plant will expand the group’s power plant portfolio to 96 plants with a combined generation capacity of nearly 130 MWp.
Amsterdam – 21 November 2022 – Photon Energy NV (WSE&PSE: PEN, FSX: A1T9KW) (“Photon Energy Group”, the “Company” or the “Group”) today announced that it has acquired the project rights and land for a 9 .8 MWp/10 MWh storage facility in New South Wales.
“This transaction represents a significant milestone as it is the first solar and battery storage project for Photon Energy Group. This project will make a significant contribution to the NSW Government’s goal of reducing emissions by 50% by 2030 compared to 2005 levels,” he said. Michael Gartner, CTO of Photon Energy Group and managing director of Photon Energy Australia.
The project is located near the town of Boggabri, New South Wales, nearly 500km northwest of Sydney. It will cover 22 hectares of open space and feature more than 16,500 high-efficiency bifacial solar panels mounted on single-axis trackers.
The plant will inject approximately 16.4 GWh of renewable energy annually into the grid operated by Essential Energy. The electricity will be sold on the energy market on a commercial basis. Photon Energy Group expects the project to be breakthrough towards the end of the second quarter of 2023.
The project is the company’s first solar plus storage system and will serve as a prototype for future solar and storage systems in Photon Energy Group’s European markets.
Worldwide, Photon Energy Group has a total of 92 MWp of solar power plants in operation and solar projects with a total capacity of 900 MWp in various stages of development. Among these are the 300 MW/3.6 GWh, which will be the world’s largest solar and storage plant (excluding hydroelectric plants) once commissioned.
About Photon Energy Group – photonenergy.com
Photon Energy Group provides solar and water treatment solutions worldwide. The group’s solar energy solutions are provided by Photon Energy: since its inception in 2008, Photon Energy has installed and commissioned photovoltaic systems with a combined capacity of over 120 MWp and now has a proprietary portfolio of 91.9 MWp. Projects with a combined capacity of 900 MWp are currently under development in Australia, Hungary, Poland and Romania and over 380 MWp are secured to operate and maintain worldwide. Photon Water, the group’s second major business, provides water treatment services, including water purification and reclamation, as well as the development and management of wells and other water resources. Photon Energy NV, the holding company of Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt stock exchanges. The company’s headquarters are in Amsterdam, with additional offices in Australia and Europe.
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