Greenvolt has won over 70% of capacity awarded to battery storage in a Polish capacity auction.
Through the auction, Greenvolt Group has secured future revenues of approximately €1.8bn for its 1.4GW portfolio of six battery storage projects.
The secured revenues are guaranteed through a 17-year long-term capacity payment contract.
In addition to fully hedged capacity market revenues, the projects will have flexibility to provide additional grid-related services and participate in market arbitrage opportunities.
Greenvolt Group, through Greenvolt Power, will build and operate the projects.
“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”, said Radek Nowak, CEO of Greenvolt Power.
Under these contracts, the Greenvolt Group will operate as reserve capacity for the Polish grid system in periods when the minimum system capacity is not guaranteed.