The company will provide one-stop solutions for customers while generating recurring revenues and cash flows in line with the group's strategy.
Amsterdam / Sydmey (pta/09.12.2013/14:00) Photon Energy Investments is aiming for a lion's share of the Australian solar market with innovative standardised financing models for comercial solar power systems as simple as mortgages or car leasing. Photon Energy Investments will deliver energy to customers with cost savings from day one and without upfront investment. The company will provide one-stop solutions for customers while generating recurring revenues and cash flows in line with the group's strategy.
Amsterdam-based Photon Energy Investments (PEI), a division of global solar power solutions and services company Photon Energy N.V., is announcing the launch of an innovative standardised financing model through its fully-owned subsidiary Photon Energy Generation Australia (PEGA). Photon Energy Investments has already been active in the Australian market since April 2013, when it acquired the largest rooftop PV power plant in the Australian Capital Territory (ACT), the region around the capital Canberra.
Solar energy has become a competitive energy source in most parts of the world, with Australia leading the way. Financing mid-sized PV systems or utility-scale plants is nevertheless very difficult and currently the main bottleneck for the industry. The standardisation of financing is the only possible way ahead. PEGA's financing models enable the implementation of a large number of PV systems and secure their financing.
PEGA will offer commercial energy users two attractive alternatives to the outright acquisition of a PV system, either in the form of a Commercial Hire Purchase (CHP) agreement or Power Purchase Agreements (PPA) with the possibility to acquire the PV system later. Both options are based on the installation of a PV system on the site of the customer - thereby avoiding grid charges - and do not require any upfront investment. At the same time they provide an immediate reduction in cash energy costs. PEGA's launch is aided by the system of Renewable Energy Certificates (RECs) generated by power plants using renewable energy sources. CHPs will be signed for an average of 10 years, while PPAs will see PEGA delivering energy to customers for up to 30 years.
"Photon Energy's financing model includes a top quality solar plant and full service over the life of the Hire Purchase or Power Purchase Agreement that ensures cost savings are maximised", says Michael Gartner, Managing Director of Photon Energy Australia.
PEGA's target customers are mainly companies with a large number of rooftop properties, such as retail chains, hotels, industrial companies and similar enterprises. The company can rely on an already extensive pipeline of projects worth more than 60 MWp and growing.
"The launch of PEGA symbolises the achievement of our mission to provide accessible, clean and affordable energy," adds Georg Hotar, CEO of Photon Energy Investments. "At the same time we are implementing the strategy highly valued by PEI's bond investors, focusing on the long-term ownership of PV assets in markets where grid parity has already been achieved".
"Customers can rely on Photon Energy's track record of connecting over 50 MWp of PV plants to the grid across four European markets, while having already built the largest rooftop PV systems in the ACT and Sydney. The crucial ingredient for standardised financing, however, is Photon Energy's world-class Operations & Maintenance capabilities, which fundamentally de-risk PV plants", concludes Georg Hotar.
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ABOUT PHOTON ENERGY INVESTMENTS
Photon Energy Investments N.V. is an independent producer of electricity from its own portfolio of PV power plants and part of the Photon Energy group, a global solar power solutions and services company. Photon Energy Investments' core business is solar power asset creation and management, and providing sustainable and long-term cash flows for shareholders. The portfolio of Photon Energy Investments includes 26 solar power plants in Czech Republic, Slovakia, Italy and. For more information please visit www.photonenergyinvestments.com