Amsterdam-based Photon Energy NV has announced the sale of two operating solar farms and a solar-plus-storage project in New South Wales, Australia, as part of its strategic realignment to focus on energy storage and grid stability.
The transaction will transfer ownership of a combined 14.5 MWp of photovoltaic (PV) capacity and an 8.2 MWp/10.9 MWh hybrid solar-battery project to CleanPeak Energy.
The deal, expected to close this month, is set to provide Photon Energy with a net cash contribution of over EUR 6 million (USD 6.6 million).
Photon Energy's CEO, Georg Hotar, highlighted the importance of the shift, stating, “By investing in energy storage, we aim to address one of the most critical challenges in the renewable energy sector – ensuring that clean energy is available whenever it is needed.”
The Leeton and Fivebough PV parks, operational since 2021, are equipped with bifacial modules and single-axis trackers, selling most of their output to the National Electricity Market (NEM).
A portion of the electricity is sold under a Power Purchase Agreement (PPA). The hybrid project, still in the development phase, is located in Boggarbi, northeastern New South Wales.
