Greenvolt Group, through its subsidiary Greenvolt Power, has secured €58.9 million in project finance facilities from UniCredit Bank Hungary to support the construction, operation, and maintenance of Project Buj, a 99 MW/288 MWh standalone battery energy storage system (BESS).
Located in northeastern Hungary, the project is currently under construction and is expected to be completed in the first quarter of 2026. Once operational, Buj will become the largest battery energy storage asset in the country, strengthening grid flexibility and supporting the integration of renewable energy into Hungary’s power system.
According to Greenvolt, the financing marks another step in the Group’s strategy to scale up energy storage assets across key European markets. “Battery storage is already an essential pillar of modern energy systems, providing the flexibility and resilience needed to support the growing share of renewables,” said João Manso Neto, CEO of the Greenvolt Group. He added that the transaction reinforces the company’s positioning in a segment that is increasingly central to the energy transition.
UniCredit Bank Hungary highlighted the role of the project in supporting sustainable energy development. “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,” said Balázs Toldi, Head of Corporates Division at UniCredit Bank Hungary.
László Lakos, Director of Structured Finance at UniCredit Bank Hungary, noted that the financing of Project Buj demonstrates the bank’s commitment to Hungary’s energy transition and to innovation in sustainable finance. He also emphasized the importance of the partnership with Greenvolt across multiple geographies and asset classes.
Greenvolt Power also underlined the collaborative nature of the financing process. Adrian Góralski, Director of M&A and Project Finance at Greenvolt Power, said that teams from both organizations worked closely to structure a tailored project finance solution supporting the successful delivery of the project.
Greenvolt Group currently holds a probability-weighted pipeline of 14.1 GW across Europe, the United States, and Asia, spanning solar, wind, and battery energy storage projects, with around 1.7 GW under construction. In the battery storage segment, the company ranks among Europe’s leading developers, with a total pipeline of 4.7 GW, and also operates in sustainable biomass and distributed generation.