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Greenvolt Power agreed to sell two built battery storage projects, 400 MW and 1.6 GWh, to Malta-based A&R Investments; closing is expected by the end of 2026.
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Battery storage containers at one of Greenvolt's Polish projects, from the company's release; the release image does not say which of the two sites is shown.
Image: Greenvolt
Source · Press image from the Greenvolt newsroom, used for news reporting.
Greenvolt Power has agreed to sell two battery storage projects in Poland, with a combined 400 MW of power and 1.6 GWh of storage, to A&R Investments for EUR 391.5 million, according to a Greenvolt market notice filed with Portugal's securities regulator CMVM and reported by Dinheiro Vivo on Oct. 22.
A&R Investments is a Malta-based investment vehicle. The price has two parts: a fixed EUR 311.5 million and up to EUR 80 million more, which depends on when the projects obtain approval to provide grid balancing services. Greenvolt said it expects the deal to close by the end of 2026, subject to customary conditions.
Greenvolt's filing ties up to EUR 80M of the price to the timing of grid balancing approval, according to Dinheiro Vivo.
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The two sites are Ełk and Turośń Kościelna in north-eastern Poland. Greenvolt described each as 200 MW with 800 MWh of storage, which works out to four hours of discharge at full power. The company said both are already built.
According to Greenvolt, the projects carry long-term contracted revenue from two sources: 17-year contracts in Poland's capacity market starting in 2028, and an agreement with Statkraft to manage the batteries and sell their flexibility in the electricity markets. The capacity market pays storage for being available at times of system stress, so the buyer inherits a revenue floor rather than a merchant position.
The deferred payment of up to EUR 80 million is the notable term. It ties part of the price to the grid balancing approval, which means the buyer is not paying in full for revenue that is not yet switched on.
Divided across the 1.6 GWh of storage, the maximum price is roughly EUR 245 per kWh of capacity. That is Voltgrid's arithmetic on the figures above, not a number Greenvolt gave, and it is a transaction value for operating-ready assets rather than a cell, pack or system price.
Both are four-hour assets that already hold Polish capacity market contracts from 2028. Voltgrid News also reported on Germany's battery storage additions and on BW ESS's 400 MW Hams Hall financing.
Greenvolt called the sale part of its asset rotation strategy: it sells most projects it develops outright, books the value created and reinvests the proceeds in new projects, while keeping the rest at 100% ownership. For storage developers, the deal shows buyers will pay for built, contracted four-hour capacity.
The figures in this report come from Greenvolt's market notice as reported by Dinheiro Vivo. Closing is pending, and the timing of the balancing services approval, which sets the final price, was not stated. The cell supplier and the operating start dates of the two plants were not part of the notice.
