· The financing has been completed with K&H Bank for 29 individual KÁT-licensed power plants with a combined capacity of 20.1 MWp in six different locations
· The long-term, non-recourse project financing agreement of up to 5.93 billion HUF (17.9 million EUR) has been signed for a period of 15 years
Amsterdam – 10 December 2019 – Photon Energy (WSE: PEN, the ‘Group’) announced today that it has closed another long-term non-recourse project financing agreement for an additional 20.1 MWp of its proprietary PV power plant portfolio in Hungary.
The portfolio is comprised of 29 individual KÁT-licensed PV power plants in the locations of Monor, Fertőd, Kunszentmárton, Taszár, Mályi, and Tata.
The eight projects (5.6 MWp) in Monor were commissioned in October 2019, the five projects (3.5 MWp) in Fertőd and the two projects (1.4 MWp) in Kunszentmárton in November 2019, and the three projects (2.1 MWp) in Taszár in early December 2019.
An additional three projects in Mályi with a total capacity of 2.1 MWp and eight projects in Tata with a combined capacity of 5.4 MWp are expected to be commissioned in Q1 2020.
Financing amounting to 5.93 billion HUF (17.9 million EUR) is being provided by K&H Bank, the Hungarian subsidiary of Belgian KBC Group N.V. and one of Hungary’s largest banking and financial services firms as well as a leading local player in project finance, for a period of 15 years.
