PGE's $4.7 Billion Investment in Battery Storage for Poland
WARSAW (Reuters) - Polish utility PGE plans to invest about 18 billion zlotys ($4.7 billion) in battery storage projects, CEO Dariusz Marzec said on Monday.
With a growing share of intermittent renewable capacity in the system replacing stable electricity generation from coal, Poland urgently needs to develop battery storage to continue its energy transformation.
"The total value of investment in large-scale energy storage facilities is about 6 billion zlotys," Marzec told reports, adding that this was for six large projects, with plans to invest a further 12 billion zlotys in smaller facilities across the country.
The company said it plans to build a total of 85 energy storage projects that will increase its storage capacity to more than 17,000 megawatt hours, which it says will provide energy for about 2.5 million households.
($1 = 3.8557 zlotys)
(Reporting by Marek Strzelecki; Writing by Anna Wlodarczak-Semczuk; Editing by David Goodman)
