Greenvolt secures financing package from Unicredit for BESS projects in Poland

The agreement will support project costs associated with the Elk and Turosn battery energy storage system (BESS) projects in Poland, developed by Greenvolt Power.

Located in northeastern Poland, the two projects have a combined capacity of 400 MW/1.6 GWh (200 MW/800 MWh each), making them among the largest BESS projects in the country, supporting greater grid flexibility, renewable energy integration, and energy security. Turosn Koscielna was officially inaugurated in July 2026, while Elk is expected to reach commercial operation (COD) in 4Q26.

João Manso Neto, CEO of Greenvolt Group, responded: “This financing package reflects the confidence that leading financial institutions place in Greenvolt’s capabilities and in the quality of the projects we develop. As we continue to deliver one of Europe’s largest battery storage projects, access to strong financing partners is essential to transforming that pipeline into operational assets that create long-term value.”

Lazar Nikolic, Managing Director, Head of Infrastructure & Export Finance CEE at UniCredit, added: “Energy storage is no longer just an emerging technology – it is a foundational pillar of Europe’s decarbonisation and grid stability. Developing around 400 MW of BESS capacity in Poland is a landmark achievement, and UniCredit is delighted to support Greenvolt and KKR with a customised €218 million financing package, including both a bridge facility and a guarantee facility. This transaction, which highlights our partnership with Greenvolt across Europe, reinforces our strategic commitment to funding critical green infrastructure and accelerating the green transition, not only in Poland but across Central and Eastern Europe (CEE).”

Adrian Góralski, Director of M&A and Project Finance at Greenvolt Power, concluded: “UniCredit has been a valued financing partner across different Greenvolt projects and markets, and this agreement builds on that relationship. It also reflects the growing confidence that lenders place in battery storage as a mature and bankable infrastructure asset, supporting the financing of increasingly large and complex projects.”

The agreement further strengthens the relationship between Greenvolt and UniCredit, building on previous financing transactions supporting the development of utility scale renewable energy projects across CEE, including in Poland, Romania, and Hungary.

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