Northland Power closes PLN 500 million project financing for two Polish battery storage projects

Type: Financing · Technology: Storage · Country: Poland · Capacity: 300 MW · Announced: 2026-09-30

Northland Power closed approximately PLN 500 million (C$185 million) of project financing for two battery storage projects totalling 300 MW / 1.2 GWh in Poland, covering the 200 MW / 800 MWh Mieczysławów and 100 MW / 400 MWh Kamionka projects. The financing supports projects that are under construction in Poland and have combined capital costs estimated at approximately PLN 1 billion (C$400 million). Kamionka is scheduled to begin commercial operations in early 2028 and Mieczysławów in mid-2028, and both projects were acquired by Northland in November 2025 at a late development stage. The projects have also received grants totalling approximately PLN 280 million (C$105 million) from Poland’s National Fund for Environmental Protection and Water Management and a portion of revenues are contracted under 17-year, inflation‑indexed auction agreements. Northland fulfilled its equity commitments using corporate cash and available funding and expects combined annual adjusted EBITDA of approximately C$40 million to C$50 million once the assets are operational.

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