Portuguese renewables developer Greenvolt, and NEO Energy Group, has acquired KSME, a Polish developer of energy storage projects.
KSME has a development portfolio of 5.56GW, of which 1.4GW has already secured grid connection rights in high voltage to PSE, the Polish network operator.
The transaction was carried out through the Polish subsidiary of Greenvolt, the V-Ridium Power Group, which now holds 51% in KSME.
In addition to storage and grid connection, Greenvolt plans to use KSME’s capacity to connect large-scale projects to the Polish grid, namely solar, wind and hybrid projects.
The transaction amounted to €3m, representing a cost of €2100 per MW for connection to the already assured network.
“This acquisition is a very significant step for Greenvolt in the Polish market, making it an important player in the energy storage market.
“The diversification of technologies is one of the main objectives of the company, being an important element to provide reliable solutions and contribute to the stability of the Polish electricity network”, said Joao Manso Neto, CEO of Greenvolt.