/WARSAW, POLAND, June 5, 2026, 10:00 CET, RENEWABLE MARKET WATCH™/
Erste Group Bank AG (Erste Group),in partnership with Siemens Financial Services, has structured and provided a project finance facility totalling approximately PLN 270 million (EUR 64 million) to support the development and construction of a 150MW/300 MWh battery energy storage system (BESS) in Jedwabno, Poland. Representing the largest project finance transaction to date for a utility-scale BESS in the Polish market, this landmark deal underpins the advancement of one of R.Power’s flagship assets and reinforces investor confidence in large-scale, grid-supporting energy storage as a critical component of Poland’s energy transition strategy.
A central driver of this successful financing is the project’s robust contractual framework: the battery energy storage system benefits from a 17-year capacity market agreement secured via Poland’s competitive auction system. This long-term revenue certainty enables the implementation of a bankable project finance structure, attracting institutional capital and setting a precedent for future large-scale energy storage investments in Central and Eastern Europe.
“Jedwabno is a crucial step – for R.Power and for the Polish energy storage market. Securing project finance at this scale, underpinned by long-term revenue contracts, shows that large-scale BESS is now fully bankable in CEE,” said Michał Swół, Chief Investment Officer at R.Power.
Construction of the Jedwabno battery energy storage system is progressing according to schedule, with project completion anticipated by the end of 2026. Upon commissioning, Jedwabno will rank among Poland’s largest operational utility-scale BESS assets, delivering essential grid stabilization services and supporting the country’s strategic shift toward renewable energy and reduced coal dependency. This milestone project exemplifies Poland’s commitment to modernising its energy infrastructure and enhancing long-term energy security.
“Jedwabno marks a turning point for energy storage in Central Europe. Our participation in financing this landmark transaction reflects Erste Group’s strong commitment to accelerating the energy transition at a time when energy security and independence are more important than ever. Delivering one of the first large-scale non-recourse financings for a standalone battery storage project in Poland demonstrates both our structuring expertise and our confidence in the country’s rapidly evolving energy landscape. It also underlines the strategic importance of Poland following our recent expansion to the country, as we continue to deploy capital into future-oriented infrastructure,” said Juan de Porras Aguirre, Executive Director Corporates at Erste Group.
About R.Power
R.Power is an Independent Power Producer (IPP) active across multiple renewable energy technologies and European markets. Its activities span the entire project value chain, from origination and development through to commercialisation and long-term operation. Founded in 2010 and headquartered in Warsaw, R.Power has evolved from one of the largest renewable energy producers in Central & Eastern Europe into a pan-European IPP, with 1.4GW of projects operational or under construction.
R.Power’s European growth strategy centres on a significant pipeline of advanced, grid-secure battery energy storage (BESS) projects, both standalone and hybrid with solar PV. With over 10GW of grid-secured, utility-scale BESS, hybrid and renewable generation projects spanning major markets including Poland, Romania, Germany, Italy, Portugal and Spain, R.Power has one of the largest, investor-ready pipelines in Europe. R.Power’s long-term equity investment partners include the European Bank for Reconstruction and Development and Three Seas Initiative Investment Fund (3SIIF) advised by Amber Infrastructure, while its debt finance partners have included institutions such as BNP Paribas and ING. Its diverse commercialisation strategies include CfDs and Capacity Auctions as well as long-term offtake contracts with blue-chip corporates.
About Siemens Financial Services
Siemens Financial Services (SFS) – the B2B financing arm of Siemens – provides financing that makes a difference. At SFS, we empower customers around the globe to access technology with purpose and increase their competitiveness. Based on our unique combination of financial expertise, risk management and industry know-how, we provide tailored financing solutions – including flexible leasing and working capital products, project-related and structured financing, corporate lending, equity investments, finance advisory, as well as trade and receivables financing. With highly experienced and passionate teams in 20+ countries, SFS paves the way for industrial productivity, smart infrastructure and sustainable mobility, facilitates the energy transition and enables high-quality healthcare. SFS is also one of the leading providers of financing for renewable energy and resource-efficient industries.
About Erste Group
Erste Group is the leading banking group in Central Europe. Since its founding as the first Austrian savings bank in 1819, Erste has stood for financial inclusion and the promotion of economic prosperity. Today, the banking group serves around 23 million customers in eight core markets: Austria, Croatia, the Czech Republic, Hungary, Poland, Romania, Serbia and Slovakia. Erste Group offers private, corporate, and institutional clients a broad range of banking and financial services – from retail and private banking to corporate and transaction banking, as well as asset management. In doing so, the Erste Group combines digital innovation with a strong branch network.
For more information and answers to your questions about the Polish battery energy storage system (BESS) market and related content, you may read here: Europe Battery Energy Storage System (BESS) Market Outlook 2025 – 2034
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