Grenergy, a Spanish clean energy producer, has secured capacity contracts for five independent storage projects in Poland, amounting to a total of 2.1 gigawatt-hours (GWh).
These contracts were awarded through an auction held by Polskie Sieci Elektroenergetyczne (PSE), the operator of Poland’s electricity system.
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Grenergy said that it has acquired more than 11% of the total storage capacity available in this auction.
The projects, named Fred, George, Lucius, Hagrid and Harry, will have combined power of 534MW and are set to provide reserve capacity to the Polish electricity grid during periods of low capacity.
These services are projected to commence in January 2030.
The contracts will be compensated at a fixed annual rate of 465.02 zlotys ($128.66) per kilowatt over a 17-year period, ensuring a minimum economic allocation exceeding €132m ($153.85m).
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By GlobalDataIn addition to these contracts, Grenergy has been granted 34m zlotys (€8m) by the Polish Government for four smaller stand-alone projects with a combined capacity of 136 megawatt-hours. These projects are set to be operational by 2028.
These grants are part of the EU’s Modernisation Fund, which aims to enhance energy storage development in Poland.
Grenergy is also advancing its Greenbox platform, a stand-alone storage initiative in Europe with a pipeline of 31GWh.
The Greenbox platform is focusing on key markets where Grenergy operates, including Germany, Italy, Poland, Romania, Spain and the UK.
Founded in 2007, Grenergy operates across Europe, North America and Latin America, with a global portfolio exceeding 75GWh of storage capacity and 12GW of solar power in various stages of development.
Last month, Grenergy finalised a senior non-recourse financing deal valued at €98.8m, which includes €13.6m in lines of credit (LC Loans), for the Ayora solar facility.
Situated in Valencia, Spain, the project has an installed capacity of 172MW.
The solar plant, which has already been built, is now in the commissioning stage. Ayora is also supported by a 15-year power purchase agreement.
In September 2024, Grenergy acquired a 1GW solar portfolio in Chile for $128m. This acquisition was intended to bolster the company’s Oasis de Atacama solar-plus-storage project.
The deal encompassed a 77MW photovoltaic plant, 923MW of projects currently under development and a 1GW interconnection facility that was already operational.
