L R AS Published on Saturday 15 October 2022 - n° 420 - Categories:company results, the prices
An example of a company that has benefited from high electricity prices
Solar project developer and asset owner Photon Energy saw its revenues soar in the last quarter thanks to high electricity prices in Europe. Its electricity sales revenue
more than doubled in the third quarter of 2022 to €15 million (US$14.57 million), compared with €6.5 million in the third quarter of 2021.
As most of the output from the company's portfolio (83%) is sold to the grid at market prices, Photon has so far generated 30.8 million in revenues in the first nine months of 2022, an increase of 50% on the full year 2021, when it generated €19.4 million in electricity revenues.
The company owns a total solar capacity of 92 MWp, with seven plants currently under construction in Romania with a capacity of 28.3 MWp. These projects should be connected to the grid by the end of the year.
Including the projects in Romania, Photon Energy has a development pipeline of 892 MW in its key markets of Central and Eastern Europe (Romania, Hungary and Poland) and Australia.
PV Tech of 11 October 2022
