Axelor Group fund to build CZK 200 million battery storage in Olomouc

The WATT & BUILD investment fund, part of the Axelor Group, will build a 10 MW battery storage facility in Olomouc with an investment of CZK 200 million. The project is scheduled to begin construction this autumn and is expected to be operational in the first quarter of 2026, according to Axelor Energy Director Adam Šmákal.

The facility will help stabilize the electricity grid and generate revenues through electricity trading. Batteries will store electricity during periods of low prices, typically when renewable generation is high, and feed it back into the grid when prices rise. A smaller 2.5 MW storage facility is currently being completed by the fund in Mydlovary, South Bohemia.

Šmákal stressed that large-scale deployment of battery storage is essential for the future of European energy systems. He pointed to recent blackouts in Spain and the Czech Republic as examples of why grid stabilization and flexible capacity are increasingly important.

In addition to the Olomouc project, Axelor is preparing to expand its domestic energy portfolio. “In October, we plan to acquire a multi-source portfolio including photovoltaics, batteries, and gas cogeneration,” said Pavel Svoreň, Chairman of the Board of Directors of the Axelor Group. The group expects to spend around CZK 400 million this year on existing energy assets.

Axelor also has international ambitions. In Spain, the group is developing six photovoltaic plants with a total capacity of 40 MW and plans to launch a flexibility aggregator, with the option of integrating battery storage through its AlphaGrid platform.

Founded in 2024 through the consolidation of the assets of founder Pavel Svoreň and his team, Axelor Group operates in energy, real estate, digital automotive, and finance across the Czech Republic and Western Europe. The WATT & BUILD fund, launched in 2023, specializes in renewable and regulatory energy projects. In 2024, it achieved a 13% return, surpassing its 10% target, and plans to invest more than CZK 600 million in 2025, bringing total assets under management to over CZK 700 million by year-end.

Source: CTK