Pacific Green Technologies Enters Polish Market with Battery Energy Storage Acquisition
Pacific Green Technologies is making a strategic move into the Polish market by acquiring a majority stake in two 50MW battery energy storage schemes. This acquisition, from an international developer active in Poland, signifies Pacific Green’s ambitious plans to bolster its energy storage portfolio.
Key Highlights of the Deal
– Two 50MW Sites: Pacific Green will initially acquire a majority stake, with the balance of shares to be acquired upon achieving project milestones.
– 400MWh Storage Capacity: The combined storage capacity of the two sites is 400MWh, marking a significant addition to Poland’s energy storage infrastructure.
– Entry into Polish Market: This deal marks Pacific Green’s first venture into Poland, a country rapidly transitioning from thermal baseload power to renewable energy sources.
Strategic Importance
Earlier this year, Pacific Green outlined its ambitious plan to deliver over 12GWh of battery energy storage across four global markets, including Poland. The two projects, located in the Warsaw region and the south-west, are pivotal to this plan. Grid applications for these projects have already been submitted, and the sites are expected to achieve ready-to-build status by late 2024.
Insights from Leadership
Dane Wilkins, Managing Director of Pacific Green, emphasized the importance of this transition:
> “Poland’s traditional reliance on thermal baseload power is transitioning rapidly to non-dispatchable renewable assets, to meet obligations under the EU’s Fit for 55 and net zero commitments. This will necessitate grid-scale storage adoption across the country.”
He also highlighted the supportive regulatory environment and growing revenue opportunities in the Polish energy storage market.
Scott Poulter, CEO of Pacific Green, added:
> “Developing next-generation battery energy parks at scale and speed is our priority focus, and entry into Poland represents another important milestone for the business.”
The Road Ahead
Pacific Green’s entry into the Polish market is a testament to the country’s burgeoning potential for renewable energy storage. As Poland continues to strengthen its regulatory framework and expand revenue opportunities, Pacific Green is well-positioned to leverage its global development and construction expertise.
Join the Conversation
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Stay tuned for more updates on Pacific Green’s projects and the broader energy storage landscape. Together, we can drive the transition to a sustainable, energy-secure future.
Credit: [Image: Adobestock]