Certified GKH Gardening Expert
Here is an article that you may find helpful: https://www.gardeningknowhow.com/ornamental/flowers/peony/why-your-peony-buds-but-never-flowers.htm
If you live in an area with a cool climate don't lose heart just yet! It is encouraging that your plant has good green growth, however it may take 'til the 3rd year after planting for your Peony to flower. Different varieties come into growth and flower at different times. Herbaceous Peonies die down in autumn and the tubers resprout in spring. While they will grow in a variety of soil types, they are frost hardy and require cold winters. If you live in a warmer climate you are very unlikely to have much success with the herbaceous type. The Tree Peony is less fussy.