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Issuer: Photon Energy NV
/ Key word(s): Expansion
Photon Energy Expands in South Africa with 250 MW Solar Hydro Project, Deploying Innovative RayGen Technology
Amsterdam/Cape Town – 14 January 2025 – Photon Energy N.V. (WSE: PEN, “Photon Energy Group”, the “Group” or the “Company”) announces that its South African subsidiary, Photon Renewable Energy Pty Ltd, has achieved a significant milestone in developing a 250 MW concentrated solar PV plant with 150 MW (1.8 GWh, 12 hours) of thermal hydro storage in Winterton, KwaZulu-Natal, South Africa. “This project represents a significant milestone for Photon Energy as we expand our footprint into South Africa. By deploying the advanced RayGen technology and fostering strong collaboration with Eskom and local stakeholders, we are committed to contributing to South Africa’s energy stability and delivering sustainable solutions that benefit both the environment and local communities,” said Georg Hotar, CEO Photon Energy Group. After successfully securing 1,200 hectares of land, the project has received favorable grid connection terms, ensuring it can fully integrate its capacity into the grid. When operational, this facility is set up to play a significant role in improving South Africa’s energy stability and mitigating the impacts of load shedding. In the next phase of development, Photon Energy will collaborate with Eskom, the local Distribution System Operator (DSO) and the largest electricity producer in Africa, to design and implement the necessary technical solutions for integrating the plant into both the regional and national grid. This partnership aims to ensure grid stability, optimize energy distribution, and provide essential services such as frequency regulation and peak load management. By working closely with the DSO, Photon Energy intends to secure deployment of this advanced technology, delivering significant value to both the energy sector and local communities. The project is making steady progress, with the Environmental Impact Assessment (EIA) to be concluded by Q4 this year and zoning processes advancing. Photon Energy is also preparing to initiate the NERSA (National Energy Regulator of South Africa) energy license application and the PPP (Public Participation Process), key steps toward securing all necessary approvals for construction. The project is expected to reach the ready-to-build status by Q2 2026. Additionally, Photon Energy is pursuing Strategic Integrated Project (SIP) status under South Africa’s Presidential Infrastructure Coordinating Commission. Achieving SIP designation would provide critical support, enabling expedited development timelines and fostering collaboration with key public and private stakeholders. RayGen’s Solar Hydro solution addresses the growing need for long-duration energy storage by combining concentrated solar electricity and heat generation with a water-based thermal storage solution that can provide dispatchable synchronous energy over periods exceeding 12 hours. Photon Energy entered a strategic partnership with and announced its initial investment in RayGen in April 2020. Along with developing RayGen projects, Photon Energy Group has since April 2020 made several equity investments in RayGen maintaining a 5.44% equity stake in the high-tech company.
About Photon Energy Group – photonenergy.com Photon Energy Group delivers solar energy and clean water solutions around the world. Its solar power services are provided by Photon Energy; since its foundation in 2008, Photon Energy has built and commissioned solar power plants with a combined capacity of over 180 MWp and owns power plants with a combined capacity of 130 MWp. It is currently developing projects with a combined capacity of 1 GWp in Australia, Hungary, Poland, Romania and South Africa and provides operations and maintenance services for 730 MWp worldwide. The New Energy business has electricity trading licenses in Poland, Hungary, the Czech Republic, Slovakia, and Serbia. The Company is one of the largest providers of DSR services to the Polish TSO with a contracted capacity of approx. 230 MW for 2025, and through its Virtual Power Plant (VPP) aggregates energy generators and consumers with a total capacity of over 480 MW. The Group’s other major business line, Photon Water, provides clean water solutions including treatment and remediation services, as well as the development and management of wells and other water resources. Photon Remediation delivers comprehensive environmental remediation solutions, including patented in-situ technology that has been proven to effectively remove PFAS from groundwater and soil. Photon Energy N.V., the holding company for Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt Stock Exchanges, as well as XETRA, Germany’s leading online trading platform. Photon Energy Group is headquartered in Amsterdam, with offices in Australia and across Europe.
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