Greenvolt secures financing for Hungary’s largest BESS

Renewable energy developer Greenvolt Power, the Polish arm of Portugal’s Greenvolt Group, has secured €58.9 million ($69 million) in project finance facilities for a 99 MW/288 MWh standalone battery energy storage system (BESS) in Hungary.

The financing comes from UniCredit Bank Hungary and will support the construction, operation and maintenance of the Buj BESS project, to be located in the northeast of the country.

It is set to be Hungary’s largest standalone battery to date once operational. Construction is currently underway, with completion expected in the first quarter of 2026.

A statement posted by Greenvolt says the facility will play a key role in enhancing grid flexibility and supporting the integration of renewables into Hungary’s national power system.

Greenvolt Power claims to have 4.7 GW of European battery storage projects in its pipeline. It has a sizeable portfolio in Poland, including two BESS projects in collaboration with China’s BYD Energy Storage and a further five to be optimized by Germany’s Entrix. In October, the company was among the winners in Italy’s storage auction, securing a 15-year contract indexed to the Consumer Price Index covering part of a forthcoming 75 MW/600 MWh project.

Hungary’s largest operational BESS is a 40 MW/80 MWh system that was inaugurated last June. It is owned by Swiss-based energy company MET Group and located at the company’s Dunamenti Power Station close to Budapest. Other notable utility-scale projects in Hungary include a 3.8 MW BESS brought online by Jinko ESS and SolarToday in July.

With the number of utility-scale storage projects growing steadily in Hungary, the government has placed emphasis on supporting households and businesses to install storage systems.

In November, a grant program aimed at businesses interested in deploying energy storage, with or without onsite renewables, opened with a total budget of HUF 50 billion (€130 million). A month later, a residential energy storage program with a budget of HUF 100 billion was announced.