Mapped: Actis Buys the Two Assets Behind Poland's Entire Battery Price Record

Actis has agreed to buy two Polish batteries from DTEK. Enerdatics holds a disclosed price for both of them, which in this market is remarkable. The remarkable part is that those two prices are the only ones the Polish battery market has.

Key takeaways

• General Atlantic's Actis has completed the purchase of the 112 MW and 518 MWh Kozienice battery project in Poland from DTEK Renewables International, and signed a separate agreement for the 132 MW and 623 MWh Trzebinia project, completing once Trzebinia operates. Terms were not disclosed.
• Trzebinia holds a 17-year Capacity Market agreement for 123.85 MW at PLN 406.35 per kW per year, or $103.86 per kW per year, for delivery year 2027, covering 93.8 percent of its 132 MW nameplate.
• Kozienice holds a 17-year Capacity Market agreement for 95 MW at PLN 244.90 per kW per year, or $62.59 per kW per year, for delivery year 2028, covering 84.8 percent of its 112 MW nameplate.
• Enerdatics records 23 Polish battery transactions since the start of 2024 and exactly two carry a disclosed value, both DTEK Renewables buying these same two assets: $32.08 million for Trzebinia in March 2024 and $29.73 million for Kozienice in September 2025, or $0.241 million and $0.265 million per MW.
• DTEK Renewables International raised roughly PLN 470 million, or $127.46 million, of non-recourse project financing for Trzebinia's construction in June 2026 from Erste Bank Polska, PKO Bank Polski and UniCredit, part of it guaranteed by KUKE on behalf of the Polish State Treasury.

What is Actis actually buying in these two batteries?

Two assets at different stages, both with contracted availability payments already attached. Kozienice is ready to build, meaning permits, grid connection and design are settled and only procurement and construction remain. Trzebinia entered construction in 2026 and expects commercial operations in early 2027, placing it among Poland's first utility-scale batteries in operation. Kozienice has completed; Trzebinia completes only when it starts operating.

Neither battery was developed by its seller. Trzebinia came from Columbus Energy in 2024, and Greenvolt Group sold the Kozienice project to DTEK's renewables arm in September 2025 after it reached ready-to-build. DTEK held each for one to two years, and over that period both gained energy without gaining power. Trzebinia went from 532 MWh to 623 MWh at the same roughly 132 MW, Kozienice from 448 MWh to 518 MWh at the same 112 MW. The storage grew by about 16 percent in both cases; the power ratings did not move.

Why does one capacity agreement cover 94 percent of nameplate and the other 85?

Because the two were won in different auctions for different delivery years, and because what a battery earns in a capacity auction depends on how long it can run.

Poland's capacity market pays an asset to be available to the power system during a named delivery year, per kilowatt of derated capacity rather than per unit generated. Derating discounts rated power according to how reliably a unit can sustain output, which for a battery means duration. Trzebinia stores 623 MWh behind 132 MW, about 4.7 hours at full output. Kozienice stores 518 MWh behind 112 MW, about 4.6 hours.

That is why the energy DTEK added is worth something. Shares of nameplate at 93.8 and 84.8 percent sit far above what shorter systems here achieve, and ENGIE's two-hour Trebaczew project holds a 17-year agreement covering 28.523 MW of 438 MW, or 6.5 percent. Duration is not the whole story. Those three agreements were won for delivery years 2027, 2028 and 2030 at clearing prices of PLN 406.35, PLN 244.90 and PLN 465.02 per kW per year, so auction conditions move the result as much as the asset does.

What the agreements leave uncovered still has to earn. Enerdatics understands the remaining power capacity may be used for merchant optimisation across Poland's wholesale, balancing and ancillary-services markets, an assessment rather than a disclosed arrangement. Trzebinia at least starts earning early, with a 2027 delivery year and operations due from early 2027, unlike a Polish project that will run for two years before its capacity contract begins.

Why is PLN 470 million not the price of the Trzebinia battery?

Because it is debt raised to build the asset, not consideration paid to own it.

Non-recourse project financing is debt secured on a project's own cash flows, with no claim on the sponsor beyond the project. DTEK raised roughly PLN 470 million, or $127.46 million, in June 2026 to build Trzebinia. Divided across 132 MW that is $0.966 million per MW, which looks like a transaction price and is not one.

The actual price was a quarter of it. DTEK paid $32.08 million for Trzebinia in March 2024, or $0.241 million per MW. The gap between those two figures is the gap between buying a permitted project and building a battery on it. In a market where the only large public numbers are debt facilities, that is the easiest mistake to make.

Enerdatics records 23 Polish battery transactions since the start of 2024, and exactly two carry a disclosed value. Both are DTEK Renewables buying the assets Actis has now agreed to take: 133 MW and 532 MWh at Trzebinia for $32.08 million in March 2024, or $0.241 million per MW, and 112 MW and 448 MWh at Kozienice for $29.73 million in September 2025, or $0.265 million per MW. The entire visible price record of a 23-transaction market describes two projects, and those two projects are changing hands again with no price attached. Poland's storage benchmark is about to become one transaction older rather than one transaction richer.

What does the deal signal for Polish storage?

It signals that the first generation of Polish battery owners is already selling, and that the buyers are growth investors rather than utilities. DTEK Renewables International bought two batteries in 2024 and 2025, carried them through permitting, auctions and in one case construction, and is exiting both in 2026 before either has run for a full year. The margin sits in the consents and the capacity agreements rather than in the electricity.

Actis is assembling the other side of that trade. These projects advance a 1.5 GW wind, solar and storage target across Central and Eastern Europe, following its July 2026 agreement for Klara Renewables, a 171 MW Polish onshore wind portfolio with around 275 MW of hybridisation potential. Roughly 18 GW of Polish coal capacity is expected to retire and about 50 GW of renewables to be added by 2040, and the capacity market is one of very few mechanisms offering a storage asset 17 years of contracted cash flow.

Frequently asked questions

How much did Actis pay for the Kozienice and Trzebinia batteries?Terms were not disclosed for either. Enerdatics records only two priced Polish battery transactions since the start of 2024, both DTEK Renewables buying these same assets, at $0.241 million per MW in March 2024 and $0.265 million per MW in September 2025.

What is a capacity market agreement in Poland?It is a contract to be available to the power system during a named delivery year, paid per kilowatt of derated capacity rather than per megawatt hour generated. Derating discounts rated power by how long a unit can sustain output, so a battery's contracted figure usually sits below its nameplate.

Why do the two agreements cover different shares of nameplate?Trzebinia's covers 123.85 MW of 132 MW and Kozienice's covers 95 MW of 112 MW. The agreements were won for delivery years 2027 and 2028 at clearing prices of PLN 406.35 and PLN 244.90 per kW per year.

Enerdatics tracks every Polish battery transaction with its capacity market position, duration and disclosed value. Browse more transaction analysis in the Enerdatics insights archive.