Greenvolt Power, a developer of large-scale wind, solar, and battery energy storage projects and part of the Greenvolt Group, has signed an agreement to sell the 57.47 MWp Kira solar photovoltaic (PV) park in southern Hungary to PPC Group for a total consideration of €64.2 million.
Located in Királyegyháza, around 180 km from Budapest, the Kira solar project achieved its Commercial Operation Date (COD) in July 2024. The project benefits from a 25-year feed-in tariff (FiT) under Hungary’s KÁT Scheme and is backed by a €35.5 million project finance facility secured on favorable financing terms.
As part of the transaction, PPC Group will also have the option to acquire a 49.1 MW / 196.2 MWh co-located battery energy storage system (BESS), subject to the project reaching Ready-to-Build (RTB) status.
Commenting on the transaction, João Manso Neto, CEO of Greenvolt Group, said that Hungary has become a strategically important market for the company. He noted that the sale demonstrates Greenvolt’s ability to develop and deliver high-quality renewable energy assets while reinforcing its commitment to accelerating the energy transition across Central and Eastern Europe.
Spiros Martinis, CEO of Greenvolt International Power, said the deal reflects the confidence international investors have in the company’s renewable energy pipeline. He added that partnering with PPC Group strengthens Greenvolt’s position in the Hungarian market, building on the momentum created by the recent commissioning of the Buj battery energy storage project.
The buyer, PPC Group, is Greece’s largest power generation company, the country’s sole electricity distribution operator, and its largest electricity supplier. Over the past three years, the company has been expanding its renewable energy portfolio across the Balkans and Central and Southeastern Europe.
The transaction follows the recent inauguration of the Buj BESS, currently Hungary’s largest standalone battery energy storage system in operation, with a capacity of 99.8 MW / 288.6 MWh. Together, the two developments highlight Greenvolt Power’s expanding presence in Hungary and its contribution to the country’s clean energy transition.
Greenvolt was advised by Kommunalkredit as financial adviser and Oppenheim as legal adviser for the transaction.
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