Photon Energy secures funds for 14.6-MWp Czech solar portfolio

Amsterdam-based solar and water solutions company Photon Energy NV (WSE:PEN) has secured EUR 28.1 million (USD 27.8m) in long-term refinancing for its photovoltaic (PV) power plants in the Czech Republic, guaranteeing liquidity for the facilities until end-2029.

The portfolio to be refinanced includes nine solar power plants that were connected to the grid in 2009 and 2010 and have a combined capacity of 14.6 MWp, a press release said.

The refinancing comes from UniCredit Bank Czech Republic and Slovakia a.s. (UCB).

“This step allows us to free up significant additional liquidity after the repayment of our EUR Bond 2017/2022 to finance the expansion of our portfolio,” Photon Energy’s CFO Clemens Wohlmuth noted in the statement.

Photon Energy has built and commissioned solar power plants with a combined capacity of over 120 MWp and has power plants with a combined capacity of 91.9 MWp in its portfolio.

The company is currently developing 892 MWp of projects in Australia, Hungary, Poland and Romania. Most recently, the Dutch-based firm launched the construction of a 7.1-MWp solar park in Romania as part of a wider plan to add 32 MWp of total generation capacity in the country by end-2022.

(EUR 1 = USD 0.991)

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