August at Photon Energy Group

Our proprietary portfolio of PV power plants produced 11.6 GWh of electricity. On a year-to-date basis, 71.2 GWh of electricity has been produced, compared to 55 GWh during the same reporting period last year, an increase of 29.5%. This increase is a result of the expansion of our proprietary portfolio.

The clean electricity generated by our plants in the first six months of 2021 represents an avoidance of 28,561 tonnes of CO₂ emissions.

In August we commissioned the first two utility-scale solar farms for our IPP portfolio in Australia. The plants, which have a combined capacity of 14.6 MWp, were developed, engineered and constructed in-house, and are expected to produce 27.8 GWh of clean electricity per year.

An extraordinary general meeting of shareholders was held on 5 August 2021 to resolve an amendment to the articles of association related to pre-emptive rights. The qualified majority to limit or exclude pre-emptive rights or to designate the management board competent to limit or exclude pre-emptive rights now requires at least 80% of the votes cast.

Shortly after the reporting period, we announced ourintention to issue a new corporate bond, initially to be offered by way of an exchange offer to holders of the existing 7.75% 2017/2022 bond (DE000A19MFH4), which will mature on 27 October 2022.