Photon Energy has secured 389 MW in the Polish power market

by   CIJ News iDesk III
2023-03-21   11:42
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In supplementary auctions organized by the Polish Power Grid (PSE), Photon Energy Group has secured power market (DSR) contracts for a volume of 375 MW for 2024 over the previously contracted 14 MW for the same year, Photon Energy reported. The contracts will translate into PLN 116.8 million (€24.8 million) in revenue in 2024. The company plans to increase its volume in the Polish power market to 600 MW in 2026 and is targeting 1 GW by 2030.

Photon Energy's subsidiaries Lerta JRM Sp. z o.o. and Lerta S.A. (Photon Energy Group's New Energy Division) were successful in the supplementary auctions in the Polish power market, securing power contracts for a volume of 375 MW for 2024. Together with the previously contracted 14 MW, the company's total volume in the power market in 2024 will be 389 MW, which will translate into PLN 116.8 million (€24.8 million) in revenues, the company announced.

After contracting DSR units of 54 MW and 134 MW for 2022 and 2023, respectively, in the auctions held by PSE, the result achieved in the 2024 auctions at the level of 389 MW demonstrates the dynamic increase in the scale of the group's activity in the area of flexibility services in Poland. This represents a 190% increase in the volume of contracted power in 2024 relative to 2023 and a 224% increase in expected revenues. Photon Energy Group's updated strategic objective for the Polish power market is to achieve 1 GW of DSR capacity in 2030 by adding approximately 100 MW of capacity per year in the upcoming supplementary auctions and the main auctions for 2028, 2029 and 2030, the company announced.

Source: Photon Energy and ISBnews