Photon Energy Solar Plant Expansion Strengthens Portfolio in Romania
Photon Energy, a leading energy group with over 1 GW of solar PV projects, has announced a new partnership with Hyperion Renewables to develop a 34 MW solar power plant in Romania. This project will be located near Târgu Jiu and will be the first in Romania to operate under a corporate power purchase agreement (PPA).
The solar power plant will supply energy directly to a nearby steel mill owned by Liberty Steel. The plant is expected to start construction in early 2025, and once operational, it will produce clean energy for the steel mill, which is part of a global industrial and metals group. This project marks a significant step for Photon Energy as it expands its portfolio in Romania. For more details on Romania’s solar developments, check out Romania Solar News Archives.
First Corporate PPA for Photon Energy Solar Plant in Romania
The Târgu Jiu project is particularly notable because it will be the first solar photovoltaic plant in Romania to operate under a corporate PPA. A PPA is a long-term agreement between an energy producer and a buyer, often a corporation, to purchase electricity at a predetermined price.
In this case, the solar plant will provide renewable energy to Liberty Steel’s mill, helping the company meet its sustainability goals while also securing a stable energy supply. The plant is expected to significantly reduce carbon emissions for the steel mill, which is a major energy consumer.
“We are excited about this partnership with Hyperion Renewables and the opportunity to develop Romania’s first solar PV plant operating under a corporate PPA,” said Georg Hotar, CEO of Photon Energy Group. “This project aligns with our mission to provide clean, affordable, and sustainable energy solutions.”
Photon Energy Solar Plant Projects Drive Growth in Romania
Photon Energy has been rapidly expanding its presence in Romania. The company currently has 121 MW of solar projects in various stages of development across the country. In addition to the Târgu Jiu project, Photon Energy recently acquired two solar projects from the Blue Energy Group, adding 42.8 MW to its Romanian portfolio.
These projects are located in Satu Mare County in northwestern Romania and are expected to start operation in 2025. The company is also constructing a 10 MW solar power plant in Fărcășești, which is scheduled to be completed by the end of 2024. Learn more about the financial backing for these projects in this news article.
The energy generated from these projects will be sold on the wholesale market, with the company’s energy trading license facilitating the sales. The Romanian government has been supportive of renewable energy projects, and Photon Energy is taking advantage of this favorable environment to expand its operations.
Photon Energy Solar Plant Commitment to Global Renewable Energy
Photon Energy was founded in 2008 and is headquartered in the Netherlands. The company is listed on the Warsaw, Prague, and Frankfurt stock exchanges. Since its inception, Photon Energy has been committed to developing and operating renewable energy projects around the world.
The company has built and commissioned over 100 solar power plants with a total capacity of more than 170 MW. It also operates its own portfolio of 119 power plants, generating 120 MW of electricity. In addition to its solar assets, Photon Energy has a growing portfolio of water treatment and remediation projects, including a 9 MWp solar power plant in Australia.
The partnership with Hyperion Renewables and the development of the Târgu Jiu solar power plant are key milestones for Photon Energy as it continues to expand its renewable energy portfolio. The project not only strengthens Photon Energy’s presence in Romania but also contributes to the global transition to clean energy.
