Greenvolt Group, through Greenvolt Power, a subsidiary responsible for global development, construction, and operation of utility-scale wind, solar, and energy storage projects, was the top winner in the Polish capacity auction held in December 2023.
Following information from Jan 5th, 2024 of the President of Energy Regulatory office on announcement of capacity market auction final results, the company was awarded 1.2 GW of capacity for its wholly owned six BESS projects, which represent over 70% of the total capacity awarded to BESS technology. The contracts cover 17 years of capacity payment obligation – the maximum possible tenor in the Polish capacity market mechanism.
In the auction held by Polskie Sieci Elektroenergetyczne S.A. (PSE), Poland’s transmission grid operator, Greenvolt Power participated with six independent energy storage projects, totalling grid-secured capacity of 1.4 GW, achieving 1.2 GW of awarded long-term capacity payments. These projects represent the largest BESS portfolio to ever clear an auction in Poland.
“Poland is an extremely important market for Greenvolt Group. This result reinforces its position in the Group’s growth strategy, giving us the opportunity to develop and construct six BESS systems”, says João Manso Neto. “With this successful outcome of the capacity auction and additional energy storage projects in its pipeline in other countries, Greenvolt Power became one of the top BESS players in Europe and a major BESS developer on the global scale, having, in particular, the biggest BESS portfolio in the world with a secured contract.”, adds the CEO of Greenvolt Group.
“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”, adds Radek Nowak, the 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. This service will be remunerated at a fixed (CPI indexed) price of PLN 244.90/kW per year for the entire 17-year period of contract duration.
