Greenvolt secures €58.9 million project finance with UniCredit Bank for BESS project

Located in the northeast of Hungary, the project construction is currently underway, with completion expected in 1Q26. Once completed, Buj will be the largest battery energy storage asset in Hungary, playing a key role in enhancing grid flexibility and supporting the integration of renewable energy into the national power system.

João Manso Neto, CEO of the Greenvolt Group, responded: “Battery storage is already an essential pillar of modern energy systems, providing the flexibility and resilience needed to support the growing share of renewables. This financing reinforces Greenvolt’s strategy to scale up storage assets across key European markets and strengthens our position in a segment that is increasingly central to the energy transition.”

Balázs Toldi, Head of Corporates Division at UniCredit Bank Hungary, added: “I strongly believe that Europe’s strength lies in sustainable and predictable energy sources, and I am proud that our group’s commitment enables us to play an active role in driving this progress.”

László Lakos, Director of Structured Finance at UniCredit Bank Hungary, noted: “The financing of Greenvolt's landmark Buj project demonstrates UniCredit Bank’s commitment to supporting Hungary’s energy transition and to driving innovation in sustainable financing. We are proud to support Greenvolt as one of Europe’s largest renewable energy developers and to deepen our excellent group partnership covering multiple geographies and assets, and we look forward to further co-operation.”

Adrian Góralski, Director of M&A and Project Finance at Greenvolt Power, concluded: “Our teams, together with the highly experienced professionals at UniCredit Bank Hungary, worked closely to structure a tailored project finance solution that meets the needs of both parties and supports the delivery of Project Buj.”

Greenvolt Group currently has a 14.1 GW probability-weighted pipeline across Europe, the US, and Asia, covering solar, wind, and BESS projects, of which around 1.7 GW is under construction. In battery storage, the company ranks among Europe’s leading developers, with a total pipeline of 4.7 GW. The group also operates in the sustainable biomass and distributed generation segments.

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