Pacific Green Acquires Majority Stake in Polish Battery Energy Storage Projects
Pacific Green Technologies, Inc. (OTCQB: PGTK) has announced plans to acquire a majority stake in two significant Polish battery energy storage projects. These acquisitions mark Pacific Green’s entry into the Polish energy storage market and align with its ambitious global energy storage goals.
The two projects, each with a capacity of 50MW and a combined storage capacity of 400MWh, will help Pacific Green advance its target of achieving 1GWh of energy storage in Poland. This move is part of a broader strategy to deliver more than 12GWh of battery energy storage across four global markets, including Poland.
Strategic Grid Applications and Market Participation
Pacific Green has already lodged grid applications for the projects, one located in the Warsaw region and the other in the South-West. These projects are expected to participate in the Polish Capacity Market Auction in Q4 this year, with both anticipated to reach ready-to-build status by late 2024.
Dane Wilkins, Managing Director of Pacific Green, highlighted Poland’s transition from thermal baseload power to renewable energy. “Poland’s reliance on thermal baseload power is transitioning rapidly to non-dispatchable renewable assets, meeting EU’s Fit for 55 and Net-Zero commitments,” Wilkins stated. This shift necessitates the adoption of grid-scale energy storage solutions.
Positive Market Outlook
The Polish energy storage market is expanding rapidly, supported by strong regulatory frameworks and revenue opportunities. Wilkins expressed excitement about Pacific Green’s entry into this market and its partnership with world-class developers. “We are planning our first projects in Poland and partnering with top developers,” he said.
Expertise and Strategic Partnerships
Scott Poulter, CEO of Pacific Green, emphasized the importance of developing next-generation battery energy parks at scale and speed. “Entry into Poland represents another important milestone for our business,” Poulter said. Pacific Green’s team combines extensive technology, project development, and finance expertise, complemented by strategic global partnerships.
About Pacific Green Technologies, Inc.
Pacific Green is a global leader in energy storage and environmental technology, committed to advancing sustainable energy solutions. The company focuses on building a global portfolio of utility-scale battery energy storage systems (BESS), with 12GWh of energy storage capacity currently in development, construction, or operation. Pacific Green leverages its in-house expertise and strategic relationships to access top-tier technology, manufacturing capabilities, and financial resources.
Source：koreabizwire.com
