Greenvolt secures €218 million UniCredit package for Polish BESS projects

Greenvolt Power has obtained a €218 million ($253 million) financing package from UniCredit, comprising €153 million in bridge facilities and a €65 million guarantee facility, to support its 400 MW/1.6 GWh Ełk and Turośń battery energy storage (BESS) projects in northeastern Poland.

The two projects, each rated at 200 MW/800 MWh, are among the largest battery storage systems in the country, according to the companies.

Turośń Kościelna was inaugurated in July, while Ełk – also known as Nowa Wieś Ełcka – is grid-connected and targeting commercial operation in the fourth quarter of 2026.

UniCredit said the transaction builds on its existing financing relationship with Greenvolt across Central and Eastern Europe, including in Poland, Romania, and Hungary, without disclosing specific prior deals.

KKR holds Greenvolt Power within its portfolio. The private equity firm took majority control of the developer in a takeover process launched in December 2023.

Greenvolt Power says it holds a total European development pipeline of 12.8 GW, including approximately 5 GW of battery storage capacity, and a planned 600 MW/2.4 GWh project at Siedlce that would become Poland’s largest BESS once completed.