Columbus Energy S.A. has fulfilled the terms of the agreement signed with DRI, a company from the DTEK Group, and sold the large-scale energy storage project (BESS). The total value of the completed transaction amounts to €29.6 million (approximately PLN 130 million).
According to the transaction announced in July, the sale of the large-scale energy storage project (with a capacity of 133 MW and an energy storage capacity of 532 MWh) to DRI (DTEK Renewables International B.V.), Columbus Energy S.A. has completed the final milestone of the process. The energy storage project, which won a capacity auction and is one of the largest in Poland, has been brought to Ready to Build (RTB) status and officially handed over to the new buyer, DRI. In doing so, Columbus has fulfilled the terms of the agreement signed in July and received the second tranche of funds for the sale of the project, amounting to 70% of the transaction value.
“We kept our promise and, as planned, completed the challenging process of bringing the BESS project to RTB status on time. This was a significant operational challenge for us, especially as we were simultaneously implementing our Columbus Intelligence service and fulfilling contracts under the Clean Air program. We have proven ourselves to be a reliable and strong business partner, which may open the door for further cooperation with the DTEK Group on additional large-scale projects,” comments Dawid Zieliński, CEO of Columbus Energy S.A.
As per the agreement, Columbus received the second payment of €20.3 million from the transaction, along with the return of the capacity market deposit for the project. The company’s management plans to use the raised capital to repay obligations to DC24 ASI and for current operations.
It is worth noting that in recent days, Columbus has contracted energy storage projects with a connection capacity of 265 MW and a storage capacity of around 1 GWh. The expected revenue from these projects, solely from the capacity market (over 17 years), is estimated to be approximately PLN 885.88 million.
Source: Manager Plus
