Photon Energy bags 375 MW in Poland's DSR auction

Mar 21, 2023 12:19 PM ET
  • Amsterdam-based solar power firm Photon Energy NV (WSE: PEN) stated on Tuesday that it has actually been awarded 375 MW of capacity in Poland's demand-side response (DSR) auction for dispatch in 2024, safeguarding added revenues for its Polish virtual power plant (VPP) business Lerta.
Photon Energy bags 375 MW in Poland's DSR auction
Image: Photon Energy

Photon's wholly-owned unit Lerta previously secured 14 MW of DSR capacity in the earlier auction for distribution in 2024 held by Poland's transmission system operator (TSO) Polskie Sieci Elektroenergetyczne SA (PSE).

The company claimed it had managed to safeguard an average price of PLN 303,868 (USD 69,487/ EUR 64,701) per MW/year for the capacity acquired in both auctions-- 389 MW. This suggests total acquired revenues of PLN 116.8 million for 2024, Photon calculated.

Photon's success in Polish DSR auctions for distribution in 2022, 2023 and also now 2024, points to a total DSR capacity growth of 190% and revenues growth of 224% in between 2023 and also 2024. The business's target for the Polish DSR market is to get to 1,000 MW of capacity in 2030. It claimed that it prepares to achieve this by including around 100 MW of acquired capacity each year using involvement in upcoming annual extra auctions and the main auctions for 2028, 2029 as well as 2030.

According to Photon Energy: "The PSE auctions are for the readiness to offer DSR solutions on-demand in case of grid stress events, which to-date have actually occurred rarely".

Meanwhile, the company's DSR capacity portfolio will remain readily available for various other revenue producing purposes, such as optimizing its electricity-trading harmonizing circle, lowering the energy prices of its electricity clients and supplying supplementary solutions. Poland's secondary services market is set up to begin procedure on January 1, 2024.

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