Greenvolt has secured a financing package from UniCredit comprising EUR 153 million in bridge facilities and a EUR 65 million guarantee facility for its Elk and Turosn battery energy storage (BESS) projects in Poland.
The financing supports project costs associated with two of Poland’s largest BESS projects, representing a combined capacity of 400 MW / 1.6 GWh.
The agreement supports Greenvolt’s continued delivery of some of Europe’s largest battery energy storage projects while reinforcing UniCredit’s commitment to financing strategic energy infrastructure.
Greenvolt Group has secured a financing package from UniCredit comprising EUR 153 million in bridge facilities and a EUR 65 million guarantee facility. The agreement will support project costs associated with the Elk and Turosn battery energy storage (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 battery energy storage 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 the fourth quarter of the year.
'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' said João Manso NetoCEO of Greenvolt Group.
'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,' said Adrian Góralski, Director of M&A and Project Finance at Greenvolt Power.
'Energy storage is no longer just an emerging technology – it is a foundational pillar of Europe's decarbonisation and grid stability. Developing c. 400 MW of BESS capacity in Poland is a landmark achievement, and UniCredit is delighted to support Greenvolt and KKR with a customized €218m 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 CEE', said Lazar Nikolic, Managing Director, Head of Infrastructure & Export Finance CEE at UniCredit.
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 Central and Eastern Europe, including in Poland, Romania and Hungary.
Source: Greenvolt
