Pacific Green enters Polish energy storage market to explore widening revenue opportunities

The double acquisition deal marks Pacific Green’s entry into the Polish market and is part of the developer’s plans to deploy 1 GWh of projects in the country.

The balance of shares in each 50 MW project will be acquired upon the realization of project milestones. Grid applications for the projects – one located in the Warsaw region, the other in the southwestern part of the country – have been lodged, ahead of anticipated participation in the Polish Capacity Market Auction in Q4 this year.

Both projects together offer a total of 400 MWh of storage capacity and are expected to reach ready-to-build status in late 2024.

“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,” Dane Wilkins, Pacific Green’s managing director, said. 

“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,” Wilkins said.

Earlier this year, Pacific Green set out its plans to deliver more than 12 GWh of battery energy storage across four global markets, including Poland.

The company expanded its pipeline to 6 GWh in 2023, establishing a strong foothold in the Italian and Australian energy storage markets.

Further hotspots in Europe

Going forward, Australia and Italy will remain hotspots for significant further pipeline expansion, Pacific Green said in February. The company also set out plans to recharge its origination portfolio in the maturing UK market, in addition to taking its first steps into the nascent Polish market.

“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,” Scott Poulter, Pacific Green’s chief executive, said.