Malta's A&R Investments to Acquire Two 400 MW Polish Battery Storage Projects from Greenvolt

A&R Investments, a Malta-based investment vehicle, has agreed to buy two stand-alone battery energy storage projects in north-eastern Poland from Greenvolt Group, which is divesting the assets through its utility-scale development arm, Greenvolt Power.

The projects, located in Ełk and Turośń Kościelna, are described by the company as among the largest battery energy storage projects in Poland. The transaction is expected to close by the end of 2026, subject to the usual conditions applicable to deals of this kind. Financial terms of the sale were not disclosed in the company's announcement.

Capacity and Status of the Polish Assets

Each project has a power capacity of 200 MW and an energy storage capacity of 800 MWh, allowing each battery to discharge at full power for roughly four hours. According to Greenvolt, both projects were completed in the third quarter of 2026 and have obtained the required permits for use. The company states that the assets enhance flexibility in the Polish electricity system and support the integration of renewable energy.

The two projects are stand-alone battery systems, meaning they are not paired with a generation asset in the transaction as described. Greenvolt Power, the selling entity, is described as a leading developer of utility-scale wind, solar and battery energy storage systems.

Revenue Contracts Attached to the Sale

The assets arrive with commercial arrangements already secured. Ełk and Turośń have each signed 17-year capacity market contracts in Poland that begin in 2028, under which each asset receives a fixed payment for making 85% of its rated capacity available to the system.

In addition, both projects are covered by a 10-year tolling agreement. Greenvolt says this agreement will optimise the batteries and trade their flexibility in the power markets. Together, the capacity market contracts and the tolling agreement define the commercial structure that the buyer acquires alongside the physical assets.

Buyer's Perspective

A&R Investments oversees, controls and manages a diversified portfolio of private and public investments, both directly and through external fund managers. Christian Buhagiar, Director at A&R Investments, said the projects represent an important addition to the firm's portfolio and an opportunity to invest in large-scale battery storage assets in Poland. He added that their scale and role in providing flexibility to the electricity system make them valuable assets in a market where storage is becoming increasingly important.

Greenvolt Executives on the Transaction

João Manso Neto, CEO of Greenvolt Group, said the company has one of the largest battery storage pipelines in Europe, has built strong expertise in developing these assets and will continue investing in the sector. He said the need for storage capacity and flexibility is growing rapidly, and that the transaction confirms that high-quality BESS projects meet a clear market need and attract investor interest.

Weronika Nowak, CEO of Greenvolt Power, said Ełk and Turośń demonstrate the company's ability to take complex, large-scale battery storage projects from development to completion. She described Poland as a strategic market and a key driver of Greenvolt's growth in Central Europe, where she said the company will continue to deliver projects that meet the evolving needs of the energy system.

Asset Rotation and Development Pipeline

Greenvolt Power holds a BESS pipeline of approximately 4.6 GW across its markets. The sale of Ełk and Turośń forms part of Greenvolt's asset rotation strategy, which foresees the sale of approximately 70 to 80 percent of internally developed projects. According to the company, this approach enables the Group to realise value from its development activities and recycle capital into new investment opportunities.