Equinor’s third solar plant in Poland, Lipno has started test production. This brings the company’s onshore renewables capacity in Poland to ~200 MW, and further strengthens its position in one of the fastest-growing renewable energy markets in Europe.
Lipno is located in the Wielkopolskie province in central Poland. The 53 MW solar plant was developed and will be operated by the Polish renewable power producer Wento, Equinor’s 100% subsidiary.
Material merchant portfolio
Equinor acquired Wento and its 1.6 GW pipeline of solar projects in 2021. Three years after the acquisition, Wento has grown from a small-scale solar developer into a multi-tech power producer operating three solar plants and one onshore wind farm in Poland with a total capacity of ~200 MW.
“Wento’s journey showcases how we leverage our investments in local development companies to build a material and profitable onshore renewables business in select markets,” said Anders Bade, senior vice president for onshore and markets within Renewables at Equinor.
Accumulated annual production from the portfolio operated by Wento is estimated at approximately 280 GWh/y, which is equivalent to the electricity consumption of around 140 000 Polish households.
Equinor’s energy trading house Danske Commodities has signed a balancing agreement with the Lipno solar plant and will be responsible for commercialising the produced power in the Polish power market. Lipno is expected to yield returns in line with prior guidance for renewables in Equinor.
Danske Commodities provides route-to-market for Wento’s assets in operation, building upon almost 15 years of power trading experience in Poland.
“We have developed a distinct business model that allows us to efficiently scale our onshore renewables portfolio and create value uplift from power trading,” finished Bade.
Building for profitable growth
Since the acquisition, Wento has built on its project pipeline, effectively doubling it to over 3 GW of opportunities in various stages of maturity. The pipeline has been diversified beyond power generation to also include battery storage, which adds flexibility and enhances value creation potential.
“Poland is actively developing renewable energy to increase domestic power capacity and enhance energy security. For Wento and Equinor, this represents an exciting opportunity to be a leading player in a growing renewable energy market,” commented Wojciech Cetnarski, CEO of Wento.
Earlier this year, Wento won the Polish Capacity Market Auction with four battery storage projects totalling about 400 MW/1,6 GWh.
The final investment decisions for the projects are expected in the next years. Battery storage systems will be key for Poland’s future grid stability as the country increases the share of renewable power.
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The Spring 2024 issue of Energy Global starts with a guest comment from Field on how battery storage sites can serve as a viable solution to curtailed energy, before moving on to a regional report from Théodore Reed-Martin, Editorial Assistant, Energy Global, looking at the state of renewables in Europe. This issue also hosts an array of technical articles on electrical infrastructure, turbine and blade monitoring, battery storage technology, coatings, and more.