Greenvolt Agrees €64.2 Million Sale of Kira Solar PV Project in Hungary to PPC Group

Greenvolt Power has signed an agreement to sell Kira – a 57.47 MWp solar PV park project located in Királyegyháza, southern Hungary, approximately 180 km from Budapest to PPC Group, for a total consideration of €64.2 million (US$73 million).

The project has been fully operational since July 2024 and benefits from a 25-year feed-in tariff under Hungary's KÁT renewable energy support scheme. It is also supported by a €35.5 million project financing facility, providing long-term revenue stability. The transaction is expected to be completed by the end of 2026, subject to customary closing conditions. As part of the agreement, PPC Group has secured an option to acquire a 49.1 MW / 196.2 MWh co-located battery energy storage system (BESS), contingent upon the project achieving Ready-to-Build (RTB) status.

The buyer is an affiliate of PPC Group, Greece's largest electricity producer, the country's sole electricity distribution operator, and its leading electricity supplier. Over the past three years, the group has actively expanded its renewable energy portfolio across the Balkans and the wider Central and Southeastern European region.

The divestment follows shortly after Greenvolt commissioned the Buj Battery Energy Storage System (BESS) in Hungary, which, with a capacity of 99.8 MW / 288.6 MWh, is currently the country's largest standalone battery energy storage facility in operation.