The first sentence says that photons "have" energy. This is how the energy of light quanta are referred to. This is because EMR is energy, so the second sentence is incorrect Light most definitely is energy E, equal to its frequency (multiplied by Planck's constant).
--encarta.msn.com/encyclopedia_761574512/Photon.html --wwwbhs.bham.wednet.edu/depts/science/yoos/AP/Quantum_Mechanics_Atomic_Theory_StudentNotes2007.ppt.
--physics.qc.edu/pages/genack/204%20Development%20of%20Quantum%20Ideas.doc.
Thought I'd clear that one up, at least.