Photon Energy to Run FORVIA’s First On-Site PPA Solar Power Plant in Hungary

Photon Energy to Run FORVIA’s First On-Site PPA Solar Power Plant in Hungary 
 

• Under a power purchase agreement (PPA) with FORVIA’s Clarion Hungary Electronics Kft. ("Clarion Hungary”), Photon Energy has developed, built and will now operate a 658 kWp solar photovoltaic (PV) power plant on the client’s premises. The plant is projected to generate 14.1 GWh of electricity over the 20‑year contract period.
• A subsidiary of FORVIA, the seventh largest automotive technology supplier worldwide, Clarion Hungary is the corporate offtaker for 100% of the energy produced by the power plant.
• ENGIE Impact, which initiated a partnership with FORVIA in 2021, catalysed their on-site solar PV roll-out program, serving as the Project Management Office to standardise and accelerate project execution.

Amsterdam/Budapest – 30 September 2024 – Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) (“Photon Energy Group” or the “Company”) announces that its Hungarian subsidiary Photon New Energy Alfa Kft. has completed construction and begun operation of an on-site solar photovoltaic (PV) power plant with an approximate capacity of 658 kWp. The operation of the power plant is based on a 20-year on-site PPA with Clarion Hungary, a subsidiary of FORVIA, the seventh largest automotive technology supplier worldwide.

“We are delighted that the power plant for FORVIA is now energised and operated by Photon Energy, producing 100% renewable, zero-emissions electricity. This marks another important milestone for Photon Energy, further solidifying our presence in the Hungarian market and expanding our service offering to the industrial sector. By delivering this turnkey on-site PPA solution, we are proud to support FORVIA in its commitment to reducing its carbon footprint while achieving long-term energy cost savings,” said Georg Hotar, CEO of Photon Energy Group.

FORVIA partnered with ENGIE Impact over two years to identify which sites had the greatest potential to serve as part of their global on-site solar PV program. The program, which includes more than 100 sites across 14 countries, was designed by ENGIE Impact to avoid 30,000 tons of CO₂ emissions annually, made possible by standardising the process, managing complexity, and by building relationships with trusted local developers. It is implemented using both PPA and PV-as-a-service models.

Engaged as the local developer in Hungary, Photon Energy has designed an optimal solution for Clarion Hungary, which will be the corporate offtaker for 100% of the energy produced by the power plant upon its completion.

Under the PPA, Photon Energy developed, built and will operate the power plant. The installation is built on the grounds of the Clarion Hungary production facility in Nagykáta, some 80 km south-east of Budapest.

Photon Energy will be able to maximise the installed capacity within the limited area by using an east/west mounting structure to potentially cover over 20% of the site’s annual electricity consumption with 1,248 monofacial modules to be installed, generating approximately 14.1 GWh over the duration of the PPA, which will contribute to an estimated CO₂e emissions reduction of 3,620 metric tons.

As part of its proprietary portfolio of solar PV power plants, Photon Energy currently owns and operates a total generation capacity of 51.8 MWp in Hungary, and provides O&M (operation and maintenance) services to a combined capacity of over 278 MWp of Hungarian PV assets.            

About Photon Energy Group – photonenergy.com

Photon Energy Group delivers solar energy and clean water solutions around the world. Its solar power services are provided by Photon Energy; since its foundation in 2008, Photon Energy has built and commissioned solar power plants with a combined capacity of over 160 MWp and has power plants with a combined capacity of 131.1 MWp in its proprietary portfolio. It is currently developing projects with a combined capacity of 1 GWp in Australia, Hungary, Poland and Romania and provides operations and maintenance services for 880 MWp worldwide. Through its fully owned subsidiary Lerta, the Group has electricity trading licenses in Poland, the Czech Republic, Slovakia, Hungary, Romania and Serbia. Lerta is the third largest provider of DSR services to the Polish TSO with a contracted capacity of 389 MW for 2024, and through its Virtual Power Plant (VPP) aggregates energy generators and consumers with a total capacity of over 480 MW. The Group’s other major business line, Photon Water, provides clean water solutions including treatment and remediation services, as well as the development and management of wells and other water resources. Launching in fall 2024, Photon Remediation delivers comprehensive environmental remediation solutions, including patented in-situ technology that has been proven to effectively remove PFAS from groundwater and soil. Photon Energy N.V., the holding company for Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt Stock Exchanges, as well as XETRA, Germany’s leading online trading platform. Photon Energy Group is headquartered in Amsterdam, with offices in Australia and across Europe.

Media Contact
Martin Kysly
Head of Marketing and Corporate Communications
Tel. +420 774 810 670
E-mail: martin.kysly@photonenergy.com

Investor Relations Contact
Joanna Rzesiewska
Investor Relations Manager
Tel. +420777486464
E-mail: joanna.rzesiewska@photonenergy.com