Greenvolt Group secures 70% of capacity of battery storage in auction in Poland

Greenvolt Group has secured over 70% of capacity of battery storage in a Polish capacity auction.

The company was awarded revenues of around €1.8 billion for its 1.4GW portfolio of six battery storage projects. These projects were secured through the auction.

Greenvolt Group will build and operate the projects through Greenvolt Power.

According to the company, “the secured revenues are guaranteed through a 17-year long-term capacity payment contract.”

It further informed that the projects will enjoy fully hedged capacity market revenues. In addition, “the projects will have flexibility to provide additional grid-related services and participate in market arbitrage opportunities,” a local report mentioned.

"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", Radek Nowak, CEO of Greenvolt Power, was quoted in a statement.

The company shared that it will operate as reserve capacity for the Polish grid system.