The solar PV developer is also preparing for an IPO on the main market of the Warsaw Stock Exchange, following a successful year for solar PV installations in the Czech Republic and Slovakia.
Photon Energy managed to secure the 2010 feed-in-tariffs for all photovoltaic (PV) plants built for its clients and its proprietary portfolio totalling 27.5MWp in the Czech Republic and 5MWp in Slovakia.
The company grew its realised project volume almost ninefold in 2010.
Photon Energy develops and builds greenfield and rooftop photovoltaic solar power plants and offers technology and specialised services for PV projects while also building its proprietary portfolio of PV power plants. The company plans to build 100 MWp of PV plants in Europe and beyond until the end of 2012.
Tax limitations in Czech Republic for solar PV
Due to the introduction of a 26pc tax on the revenues of PV plants during autumn 2010 in the Czech Republic and in light of the end of feed-in-tariffs for ground-mounted photovoltaic plants in Slovakia from 1 July 2011, Photon Energy is now going to focus its core market activity on Germany and Italy.
Slovakia, however, will remain a focus in the first half of 2011.
Capital market plans
Photon Energy is also preparing for an IPO on the main market of the Warsaw Stock Exchange. The company, which is currently undergoing a corporate restructuring in order to execute the IPO, has been listed on the New Connect segment of the Warsaw Stock Exchange since October 2008.
In December, the two controlling shareholders, Michal Gärtner and Georg Hotar, transferred their combined 71.75pc shareholding in Photon Energy a.s. to the newly established Photon Energy N.V., which now plans to make an exchange offer to minority shareholders, to seek a listing on the main market of the Warsaw Stock Exchange and to execute a capital increase in one transaction.
Georg Hotar, chief financial officer, Photon Energy, explains: “Photon Energy remains committed to playing an active role during the just-started Solar Decade, when photovoltaic becomes a globally commercially competitive source of energy, which is already the case in many parts of the world.
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