According to the EBRD, the project consists of up to EUR 15m senior secured loan to Photon Energy NV to finance (i) a portfolio of up to 20-30MW of solar power plants in Romania, (ii) investments in Lerta R&D and capacity market collateral capex, including in the associated Virtual Power Plant (VPP) software and hardware platform. The EBRD loan is to be approved under the EBRD InvestEU Framework for Sustainable Transition (OpID 54197).
The Bank's proceeds will be used to finance the completion of the Company's solar projects in Romania and will allow the Company to proceed with projects currently in a less advanced development phase across Romania and Poland. EBRD financing will also enable Photon's subsidiary Lerta to participate in the incoming capacity market and energy system services auctions, thus expanding the product offer towards over 1GW of capacity currently supported by the Lerta's VPP software.
As stated by the EBRD, Photon Energy NV is a regional renewable energy producer with an operating portfolio of 123 MW in small-mid PV power plants across Romania, Czech Republic, Slovakia, Hungary and Australia. The Company is also one of the largest providers of services to the energy market in Poland including market access services, green energy contracts as well as demand side response and energy management services. The Company shares are listed on the Warsaw, Prague and Frankfurt stock exchange and, it has a market capitalisation of EUR 123m as of the end of October 2023.
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|PHOTON ENERGY NV
Client - Photon Energy NV:
Phone: +420 702 206 574
Address: Jiului No 8, Building A, floor 2, sector 1, 013219 Bucharest
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The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
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