May at Photon Energy Group

Our proprietary portfolio of PV power plants produced 10 GWh of electricity. On year-to-date basis 34.3 GWh of electricity was produced compared to 29.3 GWh during the same reporting period last year, an increase of 16.9%. This represents an avoidance of 13,582 tonnes of CO₂ emissions for the first five months in 2021. We are currently developing PV projects with total capacity of 541 MWp.

In May we received our first sustainability assessment, being awarded a rating of ‘very good’ with 75 out of 100 points by imug | rating.

We made a follow-on equity investment of AUD 3 million (EUR 1.9 million) in RayGen Resources maintaining a 9% stake in the company.

After the reporting period we have announced our growth strategy for 2021-2024.