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Finance

Photon Energy signs 20-year PPA to develop 630 kWp solar power plant in Hungary

Solar specialist company Photon Energy signed a 20-year on-site power purchase agreement with FORVIA Clarion Hungary, a subsidiary of the global automotive industry leader FORVIA, for the construction and operation of an on-site solar PV power plant with an approximate capacity of 630 kilowatt-peaks (kWp).

“We are very pleased to sign this PPA with a global leader in the automotive industry,” said Georg Hotar, CEO of Photon Energy Group. “The agreement represents another milestone for Photon Energy, further strengthening our position in the Hungarian market and expanding our offering to the industrial sector. […] This project is the starting shot for our ambition to become a leading provider of on-site PPA solutions to commercial and industrial energy users across the CEE region.”

FORVIA’s global on-site solar PV roll-out uses both PPA and PV-as-a-service models, with Engie-Impact acting as a global partner. Engaged as the local developer, Photon Energy has designed an optimal solution for FORVIA Clarion Hungary, which will be the corporate offtaker for 100 per cent of the energy produced by the power plant upon its completion.

Under the PPA, Photon Energy will develop, build and operate the power plant. The installation will be built on the grounds of the FORVIA Clarion Hungary production facility in Nagykáta, around 80 kilometres southeast 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 approximately 20 per cent of the site’s annual electricity consumption with 1,236 monofacial modules to be installed, generating approximately 13.5 gigawatt-hours (GWh) over the duration of the PPA, which will contribute to an estimated CO2 emissions reduction of 3,670 metric tons.

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