Photon Energy NV has mandated financial and strategic advisory firm Pottinger Co Pty Limited, to advise on a capital raising for a solar PV project pipeline with a total generation capacity of over 1 GW in Australia.
Photon Energy’s pipeline is being developed in NSW and includes the previously announced 316 MW solar project at Gunning in New South Wales, as well as several other large-scale projects totaling around 700 MW. The combination of increasing energy prices, Large Generation Certificate prices and strong solar irradiation have turned Australia into one of the most sought-after destinations for utility-scale PV power plant investments in the world. Photon Energy NV expects to close the financing round in Q4 2017.
Photon Energy NV is seeking to bring in financial and strategic investors to accelerate development of these important solar energy projects.
“The outstanding track record of Pottinger in energy infrastructure financing has convinced us that they are the right advisors for selecting the most suitable financing partners for our 1 GW PV project pipeline. We are looking forward to working with their team on creating the highest possible value from our ambitious project development effort on the world’s sunniest continent” commented Michael Gartner, Managing Director of Photon Energy Australia.
“Mandating Pottinger is an important step in strengthening our position as one of the leading PV project developers in Australia today. Given the attractive economics of PV power plants in Australia on the back of continuously falling investment costs, our Australian PV project pipeline is on track of becoming the most valuable asset in our Group” explained Georg Hotar, Chief Executive Officer of Photon Energy NV.
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