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Columbus Energy SAColumbus completes agreement for sale of energy storage project to DTEK Group
Listed renewables firm Columbus Energy has fulfilled the terms of its agreement with DTEK Group company DRI and sold the large-scale energy storage project (BESS). The total value of the transaction is EUR 29.6 million, Columbus stated in a press release.
As reported, the storage project (with a power of 133 MW and a capacity of 532 MW), which has won a capacity auction and is one of the largest in Poland, has been brought to RTB (ready to build) status and handed over to the new buyer, DRI.
Columbus has thus fulfilled the terms of the agreement, signed in July, and received the second tranche of funds for the sale of the project, i.e. 70 percent of the transaction value.
In accordance with the terms of the agreement, Columbus received payment of the second tranche of the transaction funds, i.e. EUR 20.3 million, and the return of the capacity market deposit from the project.
The company's management plans to use the raised capital for repayment of liabilities to DC24 ASI and ongoing operations.
In recent days, Columbus has contracted energy storage projects with a connection capacity of 265 MW and a capacity of approximately 1 GWh. The expected value of revenue generated by these projects from the power market (over 17 years) is estimated at around PLN 885.88 million (EUR 207.83 mln).
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