Solar PV asset owner Photon Energy has signed an asset management contract for two Hungarian PV projects with a cumulative 101MWp of generation capacity.

Photon signed the contract with EDP Renováveis (EDPR), the Portuguese energy utility and project developer. The company said it will “provide a full scope of asset management services, including the technical, commercial and financial management of the PV power plants to ensure optimal performance on behalf of EDPR.”

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In the same announcement, Photon Energy said it will also take over another EDPR asset “in the future”, which is currently under construction.

Georg Hotar, CEO of Photon Energy Group said: “Our commitment is to ensure optimal performance and profitability for these assets while supporting EDPR in the transition of their additional projects under construction.”

Photon Energy’s operations are concentrated in Eastern and Southern Europe, with most of its portfolio in Romania, Hungary, the Czech Republic and Slovakia.

The broader Eastern European region has attracted increased interest from solar developers and investors over recent years.

Hungary has become one of the leading markets in the region; its large ground-mounted solar installations rose from 1.4GW in 2020 to 3.28GW in 2023.

However, SolarPower Europe predicts that the next few years will be more uncertain for Hungary’s PV market, driven by a lack of grid connection capacity and concerns over the government’s financing model for residential PV (premium access).

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