The investment is made via the PPC Renewables subsidiary, which signed an agreement with Greenvolt Group, the leading international renewable energy platform backed by the global investment firm KKR, to acquire the PV park in Southern Hungary. The deal also includes the right to acquire an under-development Battery Energy Storage System (BESS) of 49 MW capacity in the same area.
“Our entry into the Hungarian market translates our strategy into action for the new expansion phase in Central and Southeastern Europe. Under our new strategic plan through 2030, we target new markets – such as Hungary, Poland, and Slovakia – aiming to develop 2.2 GW in RES and storage projects,” said PPC Group’s Deputy CEO of RES Konstantinos Mavros.
“With this new photovoltaic project, we integrate a highly efficient asset into our portfolio and expand our geographical footprint, building a unified and resilient regional clean energy platform in the wider region.”
The photovoltaic park entered commercial operation in July 2024 and benefits from a state-subsidized, fixed-price contract with a duration of 25 years, which limits the exposure of the investment to market volatility.
The completion of the transaction is subject to the satisfaction of customary conditions precedent for transactions of this nature, including, among others, receiving the required approvals from the competent regulatory authorities.
(English version by Loredana Fratila-Cristescu)