DTEK has acquired a 133MW storage project in Poland, via its EU-focused renewable energy subsidiary DRI.
DRI signed a final binding share purchase agreement with Poland’s Columbus Energy on 27 March which will give it the right to build the battery storage facility in southern Poland, subject to permitting approvals.
The agreement is DTEK’s first major infrastructure investment in Poland and a key building block in the company’s plan to create a pan-European energy system uniting Ukraine and the EU.
DTEK’s goal is to build a 5 GW portfolio of renewable energy projects in Europe by 2030, via DRI.
Maxim Timchenko (pictured), chief executive of DTEK Group, said: “Today’s signing marks an exciting moment in Europe’s aspirations to move beyond fossil fuels.
“This project will not only provide vital flexibility in Poland’s journey to a renewable future but will be an important test case for Central and Eastern Europe in demonstrating how battery storage can be deployed successfully.
“DTEK’s investment in the country is a crucial step towards the integration of Ukraine and Poland’s energy systems.”
Krzysztof Kochanowski, vice-president of the management board and general director of PIME, said: “It is great to see international energy players like DTEK investing into the Polish battery storage market through its EU subsidiary DRI.
“Poland is one of the leaders in the European Union in the production of batteries and battery cells, and in the next 5 years it will also be one of the leaders in the construction of energy storage facilities using battery technology.
“The construction of this new facility will certainly contribute to our country’s efforts.”
DRI expects to close the deal with Columbus in the coming months and break ground at the site in Q4 2024 in order to complete construction and commence operations in early 2026.
The project has an obligation to provide energy capacity to the Polish market for 17 years from 2027, having been successful in the 2022 Capacity Market auction organized by PSE, the Polish Transmission System Operator.