Greenvolt has agreed to sell two completed battery energy storage projects in Poland to A&R Investments, in one of the larger storage portfolio transactions seen in Central and Eastern Europe.

The assets

The two plants sit in north-eastern Poland, at Ełk and Turośń Kościelna. Each is sized at 200 MW/800 MWh — a four-hour duration configuration — giving a combined 400 MW/1.6 GWh. Construction on both was completed in Q3 2026.

The seller is Greenvolt, the Portugal-based renewable energy group. The deal was announced on 23 October 2026 by Greenvolt Power, the group's development arm, which built both plants. Closing is expected before the end of 2026. The buyer is A&R Investments, a Malta-based investment vehicle.

Contracted revenue behind the deal

What makes the transaction notable is the revenue architecture rather than the headline capacity. From 2028, each of the Ełk and Turośń Kościelna systems will be paid under a 17-year capacity market contract for keeping 85% of rated capacity at the grid's disposal, plus a 10-year tolling agreement allowing their flexibility to be traded in power markets.

A&R Investments Director Christian Buhagiar said the assets' scale and flexibility role make them valuable in a market where storage is increasingly important.

The combination is significant for EU storage economics. A long-dated capacity contract de-risks availability revenue, while a tolling agreement monetises dispatch flexibility without the owner taking full merchant exposure. That structure is exactly what institutional buyers have been waiting for in Polish storage, and it explains why a completed, contracted portfolio could change hands before the end of the year.

Poland as a storage market

Poland has moved quickly from policy ambition to delivery, driven by grid balancing needs as wind and solar penetration rises and by a capacity market that explicitly values dispatchable flexibility. Four-hour duration assets of 200 MW scale are large by European standards outside Germany and Italy.

The sale also signals a maturing development model: build, contract, then sell to long-term infrastructure capital. For Greenvolt, the disposal recycles capital into the pipeline; for A&R Investments, it acquires operating assets with visible cash flows.

What to watch

Closing before year-end will be the first test. Beyond that, the question for the Polish market is whether the capacity market and tolling model can be replicated at scale, and whether grid connection timelines keep pace with the pipeline now forming across the country.

Source: BESS News

This article was assisted by AI analysis. Please refer to the original source for official information.