R.Power secures Poland’s largest BESS financing for 150 MW / 300MWh Jedwabno

03 czerwca 2026

Pan-European Independent Power Producer (IPP), R.Power has signed a project finance facility of approximately PLN 270 million (EUR 64 million) for the construction of its 150 MW / 300 MWh Jedwabno battery energy storage system (BESS) in Poland. 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. 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.

Michał Swół, R.Power Chief Investment Officer

Jedwabno BESS will make a meaningful contribution to Poland's grid resilience as the country accelerates its renewable energy transition and we commend R.Power for their desire to develop, one of the first and, to date, the largest project finance solution in the utility scale BESS sector. We are particularly proud to support R.Power in building this essential infrastructure backed by our deep expertise in energy storage financing and our existing presence in the Polish renewables sector.

Jenny Blackford, CEO Siemens Bank

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. BESS projects like Jedwabno are a crucial piece of this puzzle because they enable flexibility and resilience in the power system. 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 Erste’s recent expansion into the country, as we continue to deploy capital into Poland’s future-oriented infrastructure.

Juan de Porras Aguirre, Executive Director Corporates w 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 developers 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 Erste Group Bank AG

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.

In Poland Erste Group is present through Erste Bank Polska, one of the largest financial groups in the country. 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.

About Siemens Bank (part of 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 in financing of renewable energy and resource-efficient industries.