Pacific Green Technologies ventures into Polish energy market with strategic acquisitions

Pacific Green Technologies, Inc. (OTCQB: PGTK), a global energy storage and environmental technology company, has announced plans to acquire a majority stake in two significant battery energy storage projects in Poland. This acquisition from an international developer marks Pacific Green’s ambitious entry into the Polish market, contributing significantly to its global strategy of expanding its energy storage capabilities.

The two projects, each with a 50MW capacity, will provide 400MWh of storage, aligning with Pacific Green’s target of achieving 1GWh in the Polish market. These projects are part of a broader plan outlined earlier this year by Pacific Green to develop over 12GWh of battery energy storage across four global markets, including Poland.

Located in the Warsaw region and the southwest of Poland, these projects are strategically positioned to take advantage of the country’s shifting energy paradigm. Poland, traditionally dependent on thermal baseload power, is increasingly embracing non-dispatchable renewable assets to meet the EU’s Fit for 55 and Net-Zero commitments. This transition underscores the critical need for grid-scale storage solutions to stabilize the energy supply.

Dane Wilkins, Pacific Green’s Managing Director, emphasized the rapid expansion of the Polish energy storage market and the supportive regulatory framework being established by the Polish government. “I’m delighted we are planning our first projects there and partnering with world-class developers,” Wilkins commented, highlighting the collaborative efforts with local partners to leverage Pacific Green’s extensive development and construction expertise.

Scott Poulter, Pacific Green’s Chief Executive, articulated the company’s focus on developing next-generation battery energy parks rapidly and at scale. “Entry into Poland represents another important milestone for the business,” stated Poulter, underscoring the strategic importance of these acquisitions in Pacific Green’s growth trajectory.

Pacific Green is not only focused on expanding its footprint in energy storage but is also committed to advancing sustainable energy solutions globally. The company boasts a pipeline of 12GWh of energy storage capacity, currently in various stages of development, construction, or operation.

The strategic acquisition of Pacific Green Technologies in Poland is a calculated move to capitalize on the evolving European energy market. By entering a market with a strong regulatory framework and a clear shift towards renewable energy, Pacific Green is positioning itself as a key player in the global transition to sustainable energy solutions.