EXECUTIVE SUMMARY
Grenergy Renovables has secured long-term capacity contracts for five stand-alone battery energy storage projects in Poland totaling 534 MW/2.1 GWh. Awarded in PSE’s latest auction, the projects will deliver CPI-indexed capacity revenues for 17 years from 2030, complemented by market-based income streams. The win strengthens Grenergy’s European Greenbox storage platform.
Company: Grenergy Renovables S.A.
Location: Poland
Project: Fred, George, Lucius, Hagrid & Harry BESS Projects
Capacity: 534 MW / 2.1 GWh
Market: PSE Capacity Market
Contract: 17 Years from January 2030
Spanish multinational clean energy producer, Grenergy renovables SA, has secured capacity contracts for five stand-alone battery energy storage projects in Poland through the latest auction organized by Polskie Sieci Elektroenergetyczne (PSE), the country’s electricity operator.
The awarded projects are named Fred, George, Lucius, Hagrid, and Harry and have a combined installed power of 534 MW and an energy storage capacity of 2.1 GWh. These assets are designed to provide reserve capacity for the Polish electricity system during periods when minimum capacity cannot be guaranteed. The company has secured over 11% of the total storage capacity in this auction.
Capacity services are scheduled to commence in January 2030. The contracts provide fixed annual remuneration indexed to the consumer price index (CPI) at a rate of PLN 465.02 per kW per year ($129.36/kW/yr) throughout the 17-year contract period. Overall, the company has obtained guaranteed revenue allocation exceeding €132 million. Capacity payments form part of the overall revenue structure for each project. Additional revenues will come from energy trading and participation in regulated markets, such as ancillary services, which may be structured through tolling agreements.
In addition to the awarded capacity contracts, Grenergy has obtained a capital grant of PLN 34 million, approximately €8 million, from the Polish government for four additional stand-alone storage projects with a combined capacity of 136 MWh. These projects are expected to enter operation before 2028. The grants are financed through the European Union’s Modernization Fund and aim to support the development of energy storage infrastructure in Poland.
Overall, Grenergy now has a stand-alone storage pipeline of 5 GWh in Poland. With this latest project win, the company has expanded its European platform, Greenbox, to 31 GWh, positioning it as one of the Europe’s leading storage developments. Greenbox focuses on markets where Grenergy already has a presence: 5 GWh in Poland, 7 GWh in Romania, 3 GWh in Germany, 5.8 GWh in Italy, 6 GWh in Spain, and 4 GWh in the United Kingdom.
In Spain, the Oviedo stand-alone battery plant, Greenbox’s flagship European project, will be the first step in its development within the Spanish and European developments. The project will have a capacity of 600 MWh, with operations expected to begin in early 2027.
According to the company, overall, Grenergy’s total storage pipeline, including both stand-alone and hybrid projects, now totals 75 GWh.