Northland Acquires Two Battery Storage Projects in Poland

Executive Summary

• Northland Power Inc. acquired 100% equity interests in two late‑stage, pre‑construction battery energy storage system (“BESS”) projects in western Poland totaling 300 MW / 1.2 GWh.
• The projects (Mieczyslawów – 200 MW/800 MWh; Kamionka – 100 MW/400 MWh) are secured by 17‑year capacity auction contracts indexed to inflation, with additional revenue expected from energy arbitrage and ancillary services.
• Estimated total project cost is €200 million, with financing and construction slated for 2026, representing a strategic expansion of Northland’s core Polish market presence.

Key Details

• Acquisition Target: Greenvolt Power Group sp. z o. o. (seller) – full equity ownership transferred to Northland.
• Project Capacities:
• Mieczyslawów – 200 MW, 800 MWh storage (4‑hour duration).
• Kamionka – 100 MW, 400 MWh storage (4‑hour duration).
• Revenue Structure:
• Portion of revenue locked in 17‑year capacity auction contracts indexed to inflation.
• Additional upside from energy price arbitrage and participation in ancillary service markets.
• Financial Estimate: Total development cost projected at €200 million; financing expected to commence in 2026.
• Strategic Rationale: Deepens Northland’s footprint in Poland, a market transitioning rapidly from coal to renewables (solar & wind capacity forecast to rise from ~31 GW today to 139 GW by 2050).
• Operational Timeline: Construction start anticipated in 2026; projects will be among the first large‑scale BESS facilities operating in Poland.
• Management Comment: Christine Healy, President and CEO, highlighted the acquisition as a “milestone” supporting Poland’s energy transformation and aligning with Northland’s growth ambitions.

Notable Quotes

“Battery storage is essential to enabling a reliable, lower‑carbon energy system, and these projects represent a strong strategic fit with our growth ambitions.” – Christine Healy, President & CEO, Northland Power.