Northland Power acquires two battery storage projects

Executive Summary

• Northland Power Inc. has acquired 100% equity interests in two late-stage pre-construction battery energy storage system (BESS) projects in Poland from Greenvolt Power Group spzoo.
• The acquisition adds 300 MW of capacity and 1.2 GWh of storage duration to Northland's portfolio, strengthening its presence in its core market of Poland.
• The transaction is valued at an estimated total cost of 200 million euros, with financing and construction start expected in 2026.

Key Details

• Target Assets: Two BESS projects located in western Poland:
  • Mieczyslawow: 200 MW / 800 MWh
  • Kamionka: 100 MW / 400 MWh
• Technical Specifications: Both projects have a four-hour duration.
• Transaction Structure: Acquisition of 100% equity interests.
• Seller: Greenvolt Power Group spzoo.
• Financials:
  • Estimated total cost: 200 million euros.
  • Revenue model: A portion secured under 17-year capacity auction contracts indexed to inflation; additional revenue from energy arbitrage and ancillary service markets.
• Timeline: Financing and start of construction expected in 2026.
• Strategic Context: Supports Northland's strategy to deepen presence in Poland as the country shifts from coal to renewables (solar PV and wind capacity projected to increase from ~31 GW to 139 GW by 2050).

Notable Quotes

• "This acquisition marks an important milestone in advancing Poland's energy transformation and expanding Northland's portfolio in a core market," said Christine Healy, president and chief executive officer of Northland. "Battery storage is essential to enabling a reliable, lower-carbon energy system and these projects represent a strong strategic fit with our growth ambitions."