Greenvolt Power has agreed to sell Kira, a 57.47 MWp solar PV park in Királyegyháza, southern Hungary, to PPC Group for a total consideration of €64.2 million. The deal marks the latest disposal from Greenvolt’s expanding Central and Eastern European portfolio and comes with an option for PPC to acquire a co-located 49.1MW / 196.2 MWh battery storage asset once it reaches Ready-to-Build status. Operational since July 2024, Kira benefits from a 25-year feed-in-tariff under Hungary’s “KÁT” scheme and is underpinned by a €35.5 million project finance facility. Closing is expected by the end of 2026. The transaction follows closely on the heels of Greenvolt’s inauguration of the Buj battery storage system, reinforcing the company’s growing footprint in the Hungarian energy market.

A Fully Operational Asset Changes Hands

Located roughly 180 kilometres from Budapest, the Kira solar park reached Commercial Operation Date in July 2024 and has since generated revenue under a long-term feed-in-tariff arrangement secured through Hungary’s KÁT scheme. That 25-year tariff, combined with the €35.5 million project finance facility attached to the asset, gives the project a stable revenue profile that has evidently caught the attention of PPC Group, a company recognised as Greece’s largest power generator and the country’s sole electricity distributor and largest power supply provider. PPC has spent the past three years widening its footprint across the Balkans and Central and Southeastern Europe, and the Kira acquisition extends that regional push into Hungary.

Battery Storage Option Adds Further Upside

Beyond the solar park itself, the agreement gives PPC the option to acquire a co-located battery storage facility of 49.1MW / 196.2 MWh, contingent on the project achieving Ready-to-Build status. Pairing storage with generation capacity of this scale points to a broader ambition to firm up renewable output in a market where grid flexibility is becoming an increasingly valuable commodity.

Momentum In The Hungarian Market

The sale lands only weeks after Greenvolt inaugurated the Buj battery energy storage system, currently Hungary’s largest standalone facility of its kind in operation, with capacity of 99.8 MW / 288.6 MWh. Taken together, the two developments illustrate how active Greenvolt has become in the country over a short period, spanning both generation and storage segments of the energy transition.

João Manso Neto, CEO of Greenvolt Group, said:

“Hungary has become a particularly active market for us, and this sale illustrates the strength of our platform in the country and our commitment to accelerating the energy transition in Central and Eastern Europe. Furthermore, this sale shows Greenvolt’s ability to develop and deliver high-quality renewable energy assets across Europe.”

The scale of the transaction, and the profile of the buyer, are being read within the company as validation of the quality of assets coming through its development pipeline.

Spiros Martinis, CEO of Greenvolt International Power, said:

“This transaction reflects the growing confidence international investors place in the quality of our pipeline. Partnering with an investor of PPC’s scale and ambition reinforces Greenvolt’s positioning in Hungary, building on the momentum created by the recent inauguration of the Buj BESS.”

Part Of A Wider European Pipeline

Greenvolt Power operates across 19 markets in Europe, North America and Asia, with a total development pipeline of 12.8 GW, of which 5.1 GW has reached at least Ready-to-Build status or has been sold. The company also ranks among the leading global developers of battery energy storage systems, with a further 5 GW pipeline in that segment. Greenvolt was advised on the transaction by Kommunalkredit and Oppenheim as financial and legal advisers respectively. With closing targeted for the end of 2026, the Kira sale adds another completed disposal to a portfolio strategy that has increasingly paired mature solar assets with storage optionality, giving buyers such as PPC a foothold in markets where feed-in-tariff structures and grid conditions favour long-term renewable investment.