Photon Energy has signed an engineering, procurement and construction (EPC) agreement for a 1.23 MW Solyndra project and has begun installation on multiple rooftops in Prague, Czech Republic. Novacento obtained the permission to install solar systems on these roofs, which are primarily on school and nursery buildings.
The project involves the installation and development of 18 rooftop systems in Prague located on the roofs of municipal buildings owned by the administration of Prague 15. The installation of the panels has begun and is expected to be completed by the end of this year.
Photon Energy has agreed to provide Novacento with vendor financing for approximately 80% of the project. Novacento will work with the U.S. Export Import Bank to secure long-term project financing after the connection of the last system.