Global solar developer Photon Energy plans to enter Polish market

Photon Energy said that Maciej Górski, a former board member of Enea power and CEO of PGE Energia Odnawialna, the renewable energy arm of the largest Polish energy utility, PGE, was appointed the company's Country Head responsible for the Polish market. Marcin Bielecki/PAP

Photon Energy, an Amsterdam-based global solar power solutions and services company, plans to enter the Polish photovoltaic market, the company said in a Monday press release.

"After almost a year of detailed market analysis and intensive on-the-ground preparations, Photon Energy is entering the fastest-growing and largest solar market in the CEE region with the intention of deploying its integrated business model – which covers the entire life cycle of PV plants – while also exploring market opportunities for its Photon Water business unit," the statement read.

The company said Poland is "the most promising solar market in Europe."

Photon Energy also said that Maciej Górski, a former board member of Enea power and CEO of PGE Energia Odnawialna, the renewable energy arm of the largest Polish energy utility, PGE, was appointed the company's Country Head responsible for the Polish market.

"The last few years of dynamic growth in the Polish photovoltaics market prove that there are various business opportunities for both local and international players," Górski said as cited in the press release.

"The business model of capturing the value chain from land acquisition and project development, construction and financing through to operations and maintenance services – which are also provided to third parties – provides a clear competitive advantage," he added.

The company will manage its activities on the Polish market through its fully-owned subsidiary Photon Energy Polska headquartered in Warsaw, and is currently in the process of launching its operations and maintenance services in Lodz, central Poland.

Photon Energy has been listed on NewConnect, operated by the Warsaw Stock Exchange (WSE) outside the regulated market as an alternative trading system, since 2013. In July, the company announced that it had submitted a prospectus (to the Dutch financial market regulator)to move to the WSE main market.

Photon Energy is headquartered in Amsterdam and has offices in Europe and Australia. The group was founded in 2008 and has since built and commissioned solar power plants on two continents with a total capacity of over 80 MWp, of which 60.6 MWp belongs to its own portfolio.