Renewable energy group Greenvolt has secured more than €58 million in project finance from UniCredit Bank Hungary for the development of the 99-megawatt/288-megawatt-hour Buj battery energy storage system (BESS), the company said.
Greenvolt said the financing will support the construction, operation and maintenance of the standalone storage project in Szabolcs-Szatmár-Bereg County in eastern Hungary.
The company added that construction of the BESS is under way, with completion expected in the first quarter of 2026.
“Battery storage is already an essential pillar of modern energy systems, providing the flexibility and resilience needed to support the growing share of renewables,” João Manso Neto, chief executive of the Greenvolt Group, said in a statement.
Neto said the deal underlines the group’s growth strategy. “This financing reinforces Greenvolt’s strategy to scale up storage assets across key European markets and strengthens our position in a segment that is increasingly central to the energy transition,” he added.
UniCredit Bank Hungary said the transaction supports national energy goals. “I strongly believe that Europe’s strength lies in sustainable and predictable energy sources, and I am proud that our Group’s commitment enables us to play an active role in driving this progress,” Balázs Toldi, head of the corporates division at UniCredit Bank Hungary, said.
“The financing of Greenvolt’s landmark Buj project demonstrates UniCredit Bank’s commitment to supporting Hungary’s energy transition and to driving innovation in sustainable financing,” László Lakos, director of structured finance at UniCredit Bank Hungary, said.
Greenvolt said its teams worked closely with the bank to structure the project finance package. “Our teams, together with the highly experienced professionals at UniCredit Bank Hungary, worked closely to structure a tailored project finance solution that meets the needs of both parties,” Adrian Góralski, director of mergers and acquisitions and project finance at Greenvolt Power, said.
