Our proprietary portfolio of PV power plants produced 10.83 GWh of electricity.
On a year-to-date basis, 37.5 GWh of electricity has been produced, compared to 24.1 GWh during the same reporting period last year, an increase of 56.1%. This increase is a result of the expansion of our proprietary portfolio.
The clean electricity generated by our plants in the first three months of 2022 represents an avoidance of 15,818 t of CO2 emissions.
We have temporarily switched all the Hungarian PV power plants in our portfolio from utilising support schemes to selling electricity on the Hungarian day-ahead market to benefit from the current greatly increased electricity prices.
Our solar storage project in Yadnarie, South Australia has received Crown Sponsorship from the South Australian Government for development approval. Crown Sponsorship is a development process undertaken directly with, in this case, the Department of Energy and Mining, for the development of public infrastructure. Utilising RayGen’s unique technology, the plant is expected to have a generation capacity of 300 MWp and an energy storage capacity of 3.6 GWh. This will make it the largest renewable energy storage project in the world.
Our stock has been given a ‘buy’ recommendation by AlsterResearch, a Hamburg-based research house specialising in small and mid caps. The research report views Photon Energy Group as an early mover in the solar market with a clear focus, well positioned to benefit from current trends in the energy sector.
