Polish energy company Greenvolt has emerged successful in a recent capacity auction, securing more than 70% of the awarded capacity for battery storage projects.
Through the auction process, Greenvolt Group, the parent company, has secured future revenues of approximately €1.8 billion for its extensive portfolio comprising six battery storage projects with a total capacity of 1.4GW.
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These secured revenues are underpinned by a 17-year long-term capacity payment contract, ensuring a stable and guaranteed income stream. In addition to these fully hedged capacity market revenues, the battery storage projects will have the flexibility to provide additional grid-related services and participate in market arbitrage opportunities.
Greenvolt Group, operating through Greenvolt Power, will be responsible for the construction and operation of these projects. The CEO of Greenvolt Power, Radek Nowak, highlighted the company's capacity to deploy its resources effectively in developing large-scale projects and securing long-term contracts for the services delivered by battery storage systems.
Nowak emphasized that these contracts create a reliable source of future revenues, establishing a solid foundation for financing and constructing high-quality assets.
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Under the terms of the contracts, Greenvolt Group will serve as reserve capacity for the Polish grid system, stepping in during periods when the minimum system capacity is not guaranteed.
This success in the capacity auction reinforces Greenvolt's position in the energy storage sector and contributes to Poland's efforts to enhance grid reliability and flexibility with advanced battery storage solutions.
