Pacific Green Technologies has announced plans to buy a majority stake in two large-scale in-development battery energy storage system (BESS) projects from an international developer in Poland. Furthermore, the balance of shares in each 50 MW project will be purchased, after project milestones are met.
Grid applications for both projects, located in Warsaw and the South-West, have been submitted, with anticipation to participate in the Polish Capacity Market Auction in the 4th quarter of this year. Both projects are anticipated to achieve ‘ready to build’ status by late 2024.
The acquisition of two 50 MW projects totalling 400 MWh of capacity marks the company’s entry into Poland. These new projects will bring the company closer to its 1 GWh storage target for Poland. Meanwhile, the company has set a target to deliver 12 GWh of battery energy storage across four global markets.
REGlobal’s Views: Poland, which depends on thermal power for its base load power, is rapidly ramping up its renewables capacity. The country will, thus, need high volumes of energy storage to make this energy transition to green energy possible.
