en.Wedoany.com Reported - Polish renewable energy company R.Power has secured approximately PLN 270 million (around €64 million) in project financing for its 150MW/300MWh Jedwabno battery energy storage system (BESS) in Poland.

R.Power stated that this financing represents the largest project finance transaction completed for a utility-scale BESS asset in the Polish market. The club loan agreement reached with Siemens Financial Services through Siemens Bank and Erste Group Bank AG is considered a significant milestone for the development of Poland's energy storage industry.

The financing is backed by a 17-year capacity market contract and a long-term optimization agreement with Axpo. The Jedwabno project has commenced construction and is targeted for completion by the end of 2026. Once operational, it is expected to become one of the largest operating utility-scale BESS assets in Poland, providing grid stabilization capabilities as the country accelerates its transition away from coal.

Michał Swół, Chief Investment Officer at R.Power, stated that Jedwabno represents a critical step for both R.Power and the Polish energy storage market. Securing project financing of this scale, supported by long-term revenue contracts, demonstrates that large-scale BESS projects are fully bankable in Central and Eastern Europe. He thanked the Siemens Financial Services team and long-term financing partner Erste Group for their confidence in the project.

Jenny Blackford, CEO of Siemens Bank, noted that as Poland accelerates its renewable energy transition, the Jedwabno BESS will make a meaningful contribution to grid resilience, and praised R.Power for developing one of the first and largest project financing solutions in the utility-scale BESS sector to date. Juan de Porras Aguirre, Executive Director at Erste Group, stated that the transaction reflects the group's firm commitment to accelerating the energy transition at a time when energy security is becoming increasingly important.

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