The PPC Group enters the Hungarian energy market, one of the fastest growing clean energy markets in Europe, through the agreement signed by PPC Renewables, a subsidiary wholly owned by the Group, with the Greenvolt Group, for the integration into the portfolio of an operational photovoltaic park of 57.5 MW, the company announces.
The deal with Greenvolt, a leading international renewable energy platform backed by global investment fund KKR, also includes the right to acquire a 49MW Battery Energy Storage System (BESS) under development in the same area.
The entry into Hungary represents the first materialization of PPC Group’s new strategic growth plan for the period 2026-2030, which foresees an investment program of 24 billion euros, with the aim of increasing the installed capacity of the Group almost twice. The strategic presence in Hungary strengthens PPC Group’s leading position in the region and lays the foundation for a unified regional clean energy platform, from Greece to the markets of Central and South-Eastern Europe. In this way, the geographical and technological diversification of production is achieved, the operational risk is reduced and the value of the Group’s portfolio is maximized.
The new photovoltaic park
The photovoltaic park is located near Királyegyháza in southern Hungary, entered commercial operation in July 2024 and has an estimated lifetime of over 30 years.
In addition, the investment is well protected against market volatility, as it benefits from a fixed price contract, through a state scheme, with a duration of 25 years.
At the same time, to increase the flexibility of the system and support a greater access of renewable energy sources in the energy mix, the transaction includes the right to acquire an adjacent battery energy storage system (BESS) with a capacity of 49 MW and a discharge duration of 4 hours, which is currently under development.
Completion of the transactions is subject to the fulfillment of customary conditions precedent for transactions of this nature, including, among other things, obtaining the necessary approvals from the relevant regulatory authorities.
Hungarian energy market and renewable energy targets
Hungary has a significant growth rate in the clean energy sector in Europe. The country is implementing an integrated energy transition program with the objective of reaching 12 GW of installed capacity in solar sources by 2030. This growth is supported by a stable and predictable regulatory framework, aligned with European guidelines, which creates a secure environment for large-scale long-term investments.
“Our entry into the Hungarian market turns our strategy into concrete action, for the new stage of expansion in Central and South-Eastern Europe. Through our new strategic plan until 2030, we target new markets, such as Hungary, Poland and Slovakia, with the aim of developing 2.2 GW in renewable energy and storage projects. With this new photovoltaic project, we integrate a highly efficient asset into our portfolio and expand our geographical presence, build a platform unitary and resilient regional clean energy system in the region,” said Konstantinos Mavros, PPC Group Deputy General Manager for Renewable Energy.
Accelerated expansion in Central and South-Eastern Europe
To capitalize on the significant opportunities in the region, PPC Group is accelerating its growth with the objective of doubling installed capacity from 12.4 GW in 2025 to 24.3 GW in 2030. This will be achieved through a faster annual pace of new project commissioning, rising from 1.4 GW to 2.4 GW, mainly in renewable energy, flexible generation and storage.
The expansion in Hungary represents the natural geographical continuation of the leading position that the Group already holds in Greece and Romania. At the same time, an extensive investment plan is being implemented in other countries where the Group operates, such as Italy, Bulgaria and Croatia, while the Group also aims to penetrate new markets, including Poland and Slovakia.
By 2030, 45% of the Group’s installed capacity will be located outside Greece, with a balanced energy mix that includes all modern forms of production (solar, wind, hydro, natural gas) and storage, which ensures geographic and technological diversification.
At a time when energy and technology have become essential factors for competitiveness, security and resilience, the PPC Group is developing as a pillar of stability for the European market by investing in critical energy and technology infrastructures that protect the region and generate long-term value.
