Public Power Corp. – PPC Group marked its entry into Hungary by acquiring a subsidized 57.5 MW photovoltaic park from Greenvolt. The deal includes an option for the Greek company to buy a project for a battery energy storage system (BESS) of 49 MW in operating power.
PPC Renewables agreed to take over an operational 57.5 MW photovoltaic park in southern Hungary. The facility is owned by KKR’s subsidiary Greenvolt Group. The deal includes the option to acquire a BESS project of 49 MW. PPC Renewables is part of Public Power Corp. – PPC Group, controlled by the government in Athens.
The solar power plant that PPC Renewables is taking over has secured revenues for 25 years, the update adds. Entering Hungary is the first practical application of the Greek state-controlled energy company’s strategic plan through 2030. It entails EUR 24 billion in investments.
It aims to establish a clean energy platform in Central and South-Eastern Europe. Geographical and technological diversification of generation mitigates operational risk and maximizes the portfolio’s value, the utility explained.
Poland, Slovakia in scope as well
The photovoltaic park is near the village of Királyegyháza in Baranya county. It entered commercial operation in July 2024 and has an estimated lifespan of over 30 years. The investment offers strong protection against market volatility, as it benefits from a state-subsidized, fixed-price contract with a duration of 25 years, the regional green energy giant said.
The option for the battery energy storage system amounts to almost 200 MWh
According to the Greek company, the transaction includes the right to acquire an adjacent battery energy storage system, under development. The project is for 49 MW in capability and a four-hour duration. It would translate to 196 MWh in storage capacity.
The deal is subject to customary and regulatory clearances. “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 Chief Executive Officer of Renewable Energy Sources Konstantinos Mavros.
PPC Group accelerating expansion in CSEE region
The extensive investment plan includes Italy, Bulgaria and Croatia, the company noted. PPC, also known for its Greek acronym DEI, is confident it would double its installed capacity to 24.3 GW in 2030.
By the end of the decade, 45% would be located outside of the home market. The projects are for solar, wind and hydropower and gas-fired power plants, as well as energy storage.
PPC Group is already the biggest renewable electricity producer in Romania, excluding hydropower. It is the second-largest player in power distribution and the fourth-largest retail supplier.
Green energy division PPC Renewables is planning a battery energy storage system (BESS) at the site of the Fântânele-Vest wind farm in Romania. The planned operating power is 45.7 MW, with 91.4 MWh in capacity. The 262.5 MW wind park is part of the Fântânele-Cogealac-Gradina complex, one of the biggest in Europe.
The BESS project is worth EUR 18.8 million, of which EUR 1.55 million would be covered via the European Union’s Modernisation Fund.
Similarly, the company is preparing to install a 60 MW / 120 MWh battery system at its Zephyr 1 wind farm of 120 MW in southeastern Romania.
The investment is valued at EUR 26.1 million, of which EUR 2.9 million was approved via the Modernisation Fund. Zephyr 1 consists of 52 wind turbines. Together with Zephyr 2 it has 180 MW.
PPC Renewables Romania is also planning a BESS of 40.1 MW / 80.2 MWh within its CEE Corugea wind farm in the southeast. The facility of 35 turbines and 70 MW is in the Casimcea area. The same EU fund is providing a EUR 1.91 million grant for the EUR 16.7 million project.
Earlier, the utility said it would build a battery energy storage system of 60.1 MWh within its Sălbatica 1 wind power plant, also in Tucea county.
