ENERGY STORAGE

Greenvolt Power awarded 1.2GW of storage capacity in Polish auction

January 10, 2024

Greenvolt Group, through its subsidiary Greenvolt Power, a global developer and operator of utility-scale wind, solar, and energy storage projects, was awarded 1.2GW of capacity for six battery energy storage projects in Poland.

The contracts cover 17 years of capacity payment obligation, the maximum possible tenor in the Polish capacity market mechanism.

In the auction held by Polskie Sieci Elektroenergetyczne (PSE), Poland’s transmission grid operator, Greenvolt Power participated with six independent energy storage projects, totalling grid-secured capacity of 1.4 GW, achieving 1.2 GW of awarded long-term capacity payments.

Greenvolt said the projects represent the largest battery energy storage system (BESS) portfolio to ever clear an auction in Poland.

João Manso Neto, the CEO of Greenvolt Group, said: “Poland is an extremely important market for Greenvolt Group. This result reinforces its position in the group’s growth strategy, giving us the opportunity to develop and construct six BESS systems. With this successful outcome of the capacity auction and additional energy storage projects in its pipeline in other countries, Greenvolt Power became one of the top BESS players in Europe and a major BESS developer on the global scale, having, in particular, the biggest BESS portfolio in the world with a secured contract.”

Radek Nowak, CEO of Greenvolt Power, added: “Greenvolt Power proved once again the ability to deploy its own resources to fully develop large-scale projects and be able to secure long-term contracts for services delivered by battery storage systems, guaranteeing a bankable source of future revenues, and creating a solid base for financing and construction of high-quality assets.”