Pacific Green buying into 100 MW of battery projects in Poland

Pacific Green Technologies Inc (OTCMKTS:PGTK) intends to buy a majority stake in a 100-MW/400-MWh portfolio of battery energy storage projects in Poland, making its entry into the local market.

The British energy storage and environmental technology company will acquire the interest from an unnamed international developer, it said on Tuesday without disclosing financial details. The acquisition of shares will become effective after certain project milestones are realised.

The target portfolio consists of two battery projects of 50 MW each, one in the Warsaw region and another one in the southwestern parts of the country. Grid applications for both schemes have been submitted, ahead of the planned participation in the forthcoming Polish Capacity Market Auction in the last quarter of the year. The two projects are expected to become shovel-ready in late 2024.

“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,” said Scott Poulter, Pacific Green’s CEO.

Pacific Green aims to deliver more than 12 GWh of battery energy storage across four global markets, including Poland. The company’s goal for the Polish market is 1 GWh.

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