Greenvolt Group has secured a customised €218 million financing package from UniCredit to underwrite two utility-scale battery energy storage system (BESS) projects in Poland, in one of the largest BESS debt structures signed in Central and Eastern Europe this year.
How The €218M Facility Is Structured
The deal, announced on August 27, 2026, comprises €153 million in bridge facilities and a €65 million guarantee facility, covering project costs at Greenvolt Power's Elk and Turosn Koscielna BESS sites in northeastern Poland. UniCredit's Infrastructure & Export Finance CEE team led the structuring for KKR-backed Greenvolt, building on prior transactions the pair have closed in Poland, Romania and Hungary.
Lazar Nikolic, UniCredit's head of Infrastructure & Export Finance CEE, called battery storage "a foundational pillar of Europe's decarbonisation and grid stability," while Greenvolt CEO Joao Manso Neto said the package "reflects the confidence that leading financial institutions place in Greenvolt's capabilities and in the quality of the projects we develop."
400 MW / 1.6 GWh Of Grid-Firming Capacity
The Elk and Turosn Koscielna projects each rate 200 MW / 800 MWh, giving Greenvolt a combined 400 MW / 1.6 GWh portfolio that ranks among the biggest BESS builds in Poland. Turosn Koscielna was officially inaugurated in July 2026 and is already trading in the Polish balancing and capacity markets. Elk is expected to reach commercial operation in Q4 2026, adding a second northeastern anchor point.
The pair fold into Greenvolt's broader push to become one of Europe's largest independent battery developers, extending a pipeline that already includes the 600 MW / 2.4 GWh Siedlce BESS with BYD Haohan and the 99.8 MW Buj project in Hungary.
Bankable Battery Storage In CEE
The transaction lands as Central and Eastern European lenders race to finance grid-scale batteries needed to firm up an accelerating renewables build-out. In Romania, GEN-I Sonce just tapped WALDEVAR for a 220 MWh EPC contract, while flow-battery specialists like Invinity and Equans in Switzerland are winning multi-hour storage awards.
Adrian Goralski, director of M&A and project finance at Greenvolt Power, said the deal "reflects the growing confidence that lenders place in battery storage as a mature and bankable infrastructure asset," a signal that lenders now view utility-scale BESS on par with wind and solar in the region.
Reporting based on coverage from Energy Global and Greenvolt press materials.