This is the largest project finance transaction to be completed for a utility-scale BESS asset in the Polish market and ensures the progression of one of R.Power’s flagship projects.
The facility has been structured as a club deal between Siemens Financial Services through Siemens Bank and Erste Group Bank AG and represents an important milestone for the development of the Polish energy storage sector. The transaction demonstrates that large-scale BESS projects in CEE can attract the same level of institutional lending support that has long characterised solar and wind financing.
Central to the project’s bankability are a 17-year contract secured through Poland’s capacity market auction and a long-term optimisation agreement with Axpo. Combined these contracts provide the long-term cashflow visibility required to support project finance structures of this scale.
Construction at the Jedwabno site is already well underway, with completion targeted for the end of 2026. Jedwabno will become one of Poland’s largest operational utility-scale BESS assets – providing critical grid stabilisation capacity as the country accelerates its transition away from coal.
“Jedwabno is a crucial step – for R.Power and for the Polish energy storage market” said Michał Swół, Chief Investment Officer at R.Power. “Securing project finance at this scale, underpinned by long term revenue contracts, shows that large-scale BESS is now fully bankable in CEE. We are grateful to the teams at Siemens Financial Services, with their experience in BESS financing, and Erste Group, a long-term financing partner for our PV portfolios, for the confidence they have shown in this project. It is testament to the trust our lending partners have placed not only in R.Power, but in the viability of large-scale energy storage as a bankable asset class in this market.”
Jedwabno is a key asset in R.Power’s fast-expanding BESS and multi-technology pipeline, which consists of over 10GW of grid-secured BESS, hybrid and renewable generation projects across Poland, Romania, Italy, Germany, Portugal and Spain. This transaction sets a meaningful precedent for how that pipeline can be financed.
For additional information:
