Pacific Green Technologies, Inc. has announced the acquisition of two energy storage projects in Poland, marking an important strategic step in its European expansion. These projects, each with a capacity of 50MW, are located in the Warsaw region and in the south-west of the country, with a combined capacity of 400MWh. Poland is increasingly popular with major energy companies, such as Rolls Royce, which has placed a 470 MW SMR, and TotalEnergies, which is investing in renewable energies.
Expansion strategy in Poland
The acquisition of these two projects represents a significant step forward for Pacific Green Technologies, strengthening its presence in the Polish energy storage market. The projects are designed to meet the growing demand for storage solutions as Poland moves away from traditional energy sources.
The projects have already submitted applications to the Polish capacity market, and should reach “ready-to-build” status by the end of 2024. This participation in the Polish capacity market should secure stable and predictable revenues.
Polish market context
The Polish energy market is undergoing radical change, with a rapid transition to renewable energies. This change requires reliable energy storage solutions to stabilize the grid. Pacific Green Technologies’ investments are part of this context, providing crucial storage capacity to support this transition.
Dane Wilkins, Managing Director of Pacific Green, said, “We are seeing a rapid expansion of the energy storage market in Poland, supported by favorable regulations and growing revenue opportunities.”
Outlook and future developments
The acquisition of these projects is part of Pacific Green’s wider strategy to develop 1GWh of storage capacity in Poland. This initiative is part of a global plan to achieve over 12GWh of energy storage in various international markets.
Scott Poulter, CEO of Pacific Green, added: “Entering Poland is a key step in our growth strategy. We will apply our expertise and resources to develop these projects on a large scale.”
This expansion into Poland should not only strengthen Pacific Green Technologies’ position in the energy storage sector, but also help to stabilize the Polish power grid, which is in the throes of transition.
The acquisition of these two storage projects by Pacific Green Technologies underlines the growing importance of the Polish market in the energy storage sector. By providing 400MWh of capacity, these projects play a crucial role in stabilizing the grid and Poland’s energy transition. The company’s future development prospects and strategic expansion demonstrate its commitment to meeting the growing needs of the European energy market.
