Pacific Green Technologies plans to acquire a majority stake in two Polish battery energy storage schemes from an international developer present in the Polish Market.
The balance of shares in each 50MW site will be acquired upon the realisation of project milestones.
The deal marks Pacific Green’s entry into the Polish market, with the two assets offering 400MWh of storage capacity.
Earlier this year, Pacific Green set out its plans to deliver more than 12GWh of battery energy storage across four global markets, including Poland.
Grid applications for the projects, one located in the Warsaw region, the other in the south-west, have been lodged, ahead of anticipated participation in the Polish Capacity Market Auction in fourth quarter this year.
Based on this, both developments are expected to reach ready to build status in late 2024.
Pacific Green’s managing director Dane Wilkins said: “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.
“The Polish energy storage market is expanding rapidly, the Polish government is setting in place a strong regulatory framework with widening revenue opportunities, and I’m delighted we are planning our first projects there and partnering with world class developers.
“The Pacific Green team will work closely with its partner on the ground, applying the development and construction expertise we’ve already built up in other geographies, as well as our global supply chain connections.”
The developer’s chief executive Scott Poulter 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.”