DTEK acquires a major Polish battery storage project from Columbus Energy for €30 million, with potential for future collaborations.
DTEK Renewables International, a subsidiary of the Ukrainian energy giant DTEK, has acquired a significant battery storage project from the Polish firm Columbus Energy. The project, located in Chrzanów, Poland, boasts a capacity of 133 MW and 532 MWh. The transaction value is approximately €30 million.
“This is another highly significant transaction for Columbus in recent times. By selling our storage project, we will release some capital, which will be largely allocated to reducing our obligations to investor DC24 ASI and funding investments related to our ongoing operations. We also do not rule out collaboration with DRI and the DTEK Group on our remaining large-scale storage projects”.
says Dawid Zieliński, CEO of Columbus Energy S.A.
Transaction Details
Columbus announced that DTEK Renewables International purchased 100% of the shares in a special-purpose vehicle responsible for this large-scale energy storage project. The project secured a win in the 2022 capacity market auction, and Columbus anticipates substantial revenue from both capacity market payments and energy trading over a 17-year period.
Future Prospects
Columbus’ CEO, Dawid Zieliński, hinted at potential future collaboration with DTEK on other large-scale storage projects. The initial payment of €9.3 million has been made, with the remainder due once the project reaches “ready to build” status, expected by January 2025.