Greenvolt Group, a clean energy project developer, through Greenvolt Power, has signed a €35 million (~$41 million) project finance agreement with Ringkjøbing Landbobank. The funding will be used to construct and operate a large-scale hybrid project in Høegholm, Denmark, combining solar and battery energy storage systems.
The project integrates 97.36 MW solar with a 55-60 MW/110-120 MWh battery energy storage system. Once operational, the solar project is estimated to produce 97 GWh of electricity annually.
The project is currently under construction and is expected to begin commercial operations in the first quarter of 2026.
“Hybrid projects like this one, which bring together solar and battery storage, not only make renewable energy generation more efficient but also help us enhance and differentiate our assets, strengthening the confidence and interest of institutional partners, namely financing entities,” said João Manso Neto, CEO of the Greenvolt Group.
“Financing sustainable and responsible projects is fully aligned with Ringkjøbing Landbobank’s strategy. We are pleased to support Greenvolt in this project in Høegholm, which has a tangible regional impact and contributes to Denmark’s national energy goals”, said Jørn Nielsen, Managing Director, Ringkjøbing Landbobank A/S.
In August 2025, the company announced a €150 million (~$173 million) share capital increase, fully subscribed by its shareholder KKR. This transaction is said to strengthen the company’s capacity to execute its business plan, especially in utility-scale battery energy storage systems.
The Greenvolt Group also reached an agreement with Nuveen Infrastructure in September 2024 to sell a 153 MW solar project portfolio across various regions of Italy for €18.7 million (~$20.69 million).
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.
