Greenvolt Power, part of the Greenvolt Group, has signed an agreement to sell Kira, a 57.47MWp solar PV park, located in Királyegyháza, southern Hungary, approximately 180km from Budapest, to PPC Group, for a total consideration of €64.2 million. PPC will also have an option to acquire a 49.1MW/196.2MWh co-located battery storage project, subject to the project reaching Ready-to-Build (RTB) status,
The solar PV project reached Commercial Operation Date (COD) in July 2024 and secured a feed-in-tariff (FiT) under Hungary’s ‘KÁT’ Scheme for a period of 25 years. It is also supported by a €35.5 million project finance facility with attractive margin conditions.
“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,” said João Manso Neto, CEO of Greenvolt Group.
“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 BESSm,” said Spiros Martinis, CEO of Greenvolt International Power.
The buyer is a company of PPC Group, Greece’s largest power generation company, the country’s sole electricity distributor and largest power supply provider, which has been pursuing the expansion of its business portfolio in the Balkans and Central and Southeastern Europe over the past three years.
The sale comes only weeks after Greenvolt inaugurated the Buj BESS, Hungary’s largest standalone battery energy storage system currently in operation, with 99.8 MW / 288.6 MWh of capacity. Together, the two milestones underline the pace and scale of Greenvolt Power’s activity in the Hungarian market and its role in supporting the country’s energy transition.
