Photon Energy N.V.

Capital/Financing Update • Mar 21, 2018

Photon Energy NV announces the expansion of its Hungarian project pipeline by eight additional photovoltaic projects with a total installed capacity of 5.5 MWp in the municipality of Tiszakecske in Bács-Kiskun region through the acquisition of eight project companies. The acquired PV projects are at the ready-to-build stage and Photon Energy expects to build and connect the plants to the grid by the beginning of 2018Q4.

The announced transaction increases Photon Energy’s photovoltaic pipeline in Hungary to 38 projects with a total installed capacity of 26.1 MWp, of which the 8 projects in Tiszakecske represent 5.5 MWp, the 8 projects in Almásfüzitő represent 5.5 MWp, the 6 projects in Fertőd (I & II) represent 4.0 MWp, the 8 projects in Monor represent 5.6 MWp and the 8 projects in Tata represent 5.5 MWp.

“In our pursuit to add 50 MWp of operating PV plants to our Hungary portfolio by year-end 2019, this acquisition marks another significant step forward and is a testament to our strong focus on the Hungarian market bearing fruit," comments Photon Energy CEO Georg Hotar.