From: Mercom India
Greenvolt Power, a developer of wind, solar, and battery energy storage projects, and part of the Greenvolt Group, has signed an agreement to sell a 57.47 MW solar project in Hungary to PPC Group, a Greece-based electric power and natural gas company, for a total consideration of €64.2 million (~$73 million).
The Kira solar project is located in Királyegyháza in southern Hungary, approximately 180 km from Budapest. The project began commercial operations in July 2024. Greenvolt expects the transaction to close by the end of 2026.
The project has secured a 25-year feed-in tariff under Hungary’s KÁT program. It is also supported by a €35.5 million (~$40 million) project finance facility.
“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.
Under the agreement, PPC will have an option to acquire a battery storage project planned at the same location. The proposed facility will have a power capacity of 49.1 MW/196.2 MWh. PPC can exercise the option after the battery storage project reaches ready-to-build status.
The transaction follows Greenvolt’s commissioning of the Buj battery energy storage project in Hungary. The standalone facility has a power capacity of 99.8 MW/288.6 MWh.
In May 2026, Greenvolt Group completed an additional €70 million (~$81.4 million) issuance of its Green Bonds 2029, increasing the total size of the issue to €170 million (~$197.9 million) to support its growth strategy and the expansion of its international renewable energy business.
In 2025, the company signed a €35 million (~$41 million) project finance agreement with Ringkjøbing Landbobank to construct and operate a large-scale hybrid project in Høegholm, Denmark, combining solar and battery energy storage systems.
According to Mercom’s Q1 2026 Solar Funding and M&A report, approximately 18.4 GW of solar projects were acquired in the first quarter of 2026, compared to 13.6 GW in Q1 2025.
