All three PV plants will be ground-mounted and are projected to annually supply 820 MWh of clean electricity to the grid based on a feed-in-tariff with self-consumption option.
Sydney / Amsterdam (pta/12.12.2013/13:30) Only days after launching its Australian unit Photon Energy Generation Australia (PEGA), Photon Energy Investments NV announces its first three PV projects on the basis of Commercial Hire Purchase Agreements. All three PV plants will be ground-mounted and are projected to annually supply 820 MWh of clean electricity to the grid based on a feed-in-tariff with self-consumption option. The projected investment volume is AUD 1.6 million (EUR 1.06 million) and all three plants are planned to be completed and grid connected by the end of 2014 Q1. The news comes on the same day as the company pays investors the third quarterly coupon of its 8% corporate bond.
Photon Energy Investments has signed its first three PV projects on a Commercial Hire Purchase Agreement-basis (CHP). This comes only a few days after it presented its new standardised financing options in Sydney on 9 December. The revolutionary financing models, which can unlock the Australian commercial solar market, have been compared to leasing models and make solar energy accessible to Australian power consumers. All three projects have been signed by subsidiary Photon Energy Generation Australia (PEGA) and are located at Mugga Lane and Jerrabomberra in the Australian Capital Territory (ACT), the region surrounding the capital Canberra.
"Photon Energy Generation Australia is off to a flying start, putting our concept of bringing affordable, clean and safe energy to commercial users on the basis of standardised financing solutions into action", explains Michael Gartner, Managing Director of Photon Energy Australia. "The response to PEGA's launch exceeded our expectations and confirmed the substantial demand for high performance commercial solar solutions".
"Today's jump-start of PEGA validates our business model and solidifies our market leadership in the ACT, coming on top of a 290 KWp PV plant in Sydney - the largest in the city - currently under construction by our company. Step by step Photon Energy Investments is becoming market leader in the fast-growing commercial solar market in Australia", adds Georg Hotar, Chief Executive Officer of Photon Energy Investments NV. "We are very pleased about our progress in leveraging our international experience combined with standardised financing in the world's sunniest continent", Hotar concludes.
Photon Energy Investments placed an 8% corporate bond earlier this year, which can still be subscribed to over the issuer's website at www.photonenergyinvestments.com. Investors are being paid their third quarterly coupon today.