Hungary: Solar developer Photon Energy increased its five-year corporate bond, SEE Energy News
Photon Energy’s 2017/2022 five-year euro-denominated corporate bond increased to 43 million euros through a new placing.
The new offering of 5.4 million euros has allowed the company to boost the previous bond volume by 14 %. The securities were sold in a private placement among institutional investors throughout Europe and will start trading on the open market of the Frankfurt bourse shortly. The 2017/2022 bond bears an annual coupon of 7.75 %.
Photon Energy plans to use the proceeds to grow its portfolio of solar power plants with the construction of new plants in Hungary and Australia. Some of the funds will be allocated to enhance the company’s financial position.
Last month, Photon Energy started the construction of 10 solar power plants with a total capacity of 14.1 MW in Puspokladany. The new power plants will stretch over 19.8 hectares and supply electricity to E.ON’s network. The company expects the power plants to generate approximately 20 GWh of electricity per year. Photon Energy will operate the power plants through four wholly-owned project companies with a total of 10 METAR licenses. Five licenses entitle each power plant to a feed-in tariff 96.75 euros/MWh for 15 years and 5 months, with a maximum approved and supported production of 29,955 MWh per license. The remaining five licenses entitle each power plant to the same feed-in tariff for 17 years and 11 months, with a maximum approved and supported production of 34,813 MWh per license. The total annual revenues of all ten power plants are expected to amount to over 1.9 million euros.
- September 30, 2022 Serbia, Serbian Post has launched a tender for the supply of electricity for a period of next three years
- September 30, 2022 Serbia, 40.5 million euros allocated for RES investments in heating systems
- September 30, 2022 Romania, Nuclearelectrica and Nova Power & Gas formed joint venture for SMR development