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 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 Group 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.
