Photon Energy Group Secures EUR 15 Million Financing from EBRD for Solar Projects

Photon Energy Group announced a new financing agreement with the European Bank for Reconstruction and Development (EBRD). The company secured a senior secured loan of up to EUR 15 million over a period of seven years.

This investment by EBRD will support the construction of six upcoming solar PV parks in Romania, boasting a total capacity of 29 MWp. In addition to constructing these solar parks, the funds will also cater to the expansion of demand response services and R&D for Lerta S.A.

The loan is backed by a guarantee from the European Union under its InvestEU Program. Photon Energy also highlighted its ongoing development of broader utility-scale solar PV projects across various regions, including over 1.2 GWp in Australia and Central and Eastern Europe, with more than 210 MWp in Romania alone.

Georg Hotar, CEO of Photon Energy Group, remarked on the strong confidence in the Romanian energy market and their integrated model for developing and operating PV installations and monetizing generated electricity.