Greenvolt Group has secured a financing package from UniCredit worth €218 million for its Ełk and Turośń battery energy storage system projects in Poland. The package comprises €153 million in bridge facilities and a €65 million guarantee facility, supporting costs for projects developed by Greenvolt Power. Together, the two northeastern Polish installations represent 400 MW / 1.6 GWh of storage capacity, with each project rated at 200 MW / 800 MWh. Turośń Kościelna was inaugurated in July 2026, while Ełk is expected to reach commercial operation in the fourth quarter of the year.
Financing Two Large Storage Projects
The transaction gives Greenvolt financial backing for two facilities that rank among Poland’s largest battery storage projects. Their scale reflects the widening role of large batteries in power systems, where flexible capacity can help balance supply and demand while accommodating more renewable electricity generation.
Both projects are located in northeastern Poland and are being delivered through Greenvolt Power, the group’s utility-scale business. The financing also extends an existing relationship between Greenvolt and UniCredit, following previous renewable energy project financing activity across Central and Eastern Europe, including Poland, Romania and Hungary.
João Manso Neto, CEO of Greenvolt Group, said:
“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”
Grid Flexibility In Poland
With a combined four-hour duration, the Ełk and Turośń assets are designed to support greater grid flexibility, renewable energy integration and energy security. Battery systems can store electricity and return it to the network when required, giving system operators a useful source of responsive capacity as generation patterns change.
Turośń Kościelna’s July inauguration marks the first of the two projects to enter operation. Ełk’s expected fourth-quarter commercial operation will bring the combined portfolio to its full 400 MW / 1.6 GWh capacity.
The projects form part of Greenvolt Power’s wider activity in onshore wind, solar and storage. The company operates across 19 markets in Europe, North America and Asia, with a stated 12.8 GW pipeline, of which 5.1 GW is at least ready-to-build or sold. Its battery energy storage pipeline totals 5 GW.
Bank Support For Green Infrastructure
For UniCredit, the agreement places energy storage alongside renewable generation as an infrastructure investment priority in Central and Eastern Europe. The bank’s package combines bridge and guarantee facilities, a structure tailored to support delivery of the projects while reinforcing its relationship with Greenvolt and KKR.
Lazar Nikolic, Managing Director, Head of Infrastructure & Export Finance CEE at UniCredit, said:
“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.”
A Bankable Storage Asset Class
The deal also signals lender confidence in battery storage as a financeable large-scale infrastructure category. As projects increase in capacity and technical complexity, access to specialist financing arrangements is becoming an important element of project delivery alongside development and construction expertise.
Adrian Góralski, Director of M&A and Project Finance at Greenvolt Power, said:
“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,”
Building Operational Storage Capacity
The Ełk and Turośń financing brings a substantial storage portfolio closer to full operation in Poland. Greenvolt’s delivery of two 200 MW facilities illustrates the scale now being pursued in the country’s energy infrastructure, pairing capital investment with systems intended to support a more flexible electricity network.
With Turośń Kościelna already inaugurated and Ełk due to follow later in 2026, the projects provide a notable addition to Greenvolt Power’s utility-scale storage pipeline. The agreement also gives UniCredit a prominent role in financing assets intended to support renewable energy integration and electricity system resilience across the region.
