Four large-scale BESS projects totalling a combined 2.2GWh of capacity in major EU markets can now proceed with construction following successful financing by owners OX2, R.Power, BRUC and Aukera.
R.Power finances Jedwabno project in Poland
IPP R.Power Renewables has secured financing for its 150MW/300MWh battery energy storage system (BESS) project in Jedwabno, Poland.
The PLN 270 million (€64 million/US$74 million) financing package rom Siemens Financial Services and Erste Group will support the project’s progression through to completion by late 2026.
The company claimed it is largest project finance agreement signed for utility-scale BESS in Poland to-date.
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Like R.Power’s other projects in Poland, the project has a 17-year capacity market (CM) contract. Power firm Axpo will trade the battery under a long-term optimisation deal, and will do the same with another R.Power project in Poland, the 300MW/1,200MWh Dzięgielewo system, set for 2028 operation.
R.Power is also building a 254MWh BESS at a solar PV plant in Romaina. The company’s head of BESS Laurens Vanochten and CCO Rafal Hajduk discussed its energy storage activities and strategy, including procurement, in a video interview at the Energy Storage Summit 2026 in February this year (ESN Premium).
OX2 starts building solar, BESS in Poland
Developer and EPC firm OX2 has launched constrution on separate solar and BESS projects in Poland.
The company has taken final investment decision (FID) and is proceeding with construction on the 165 MWp Lion solar farm in the Lubuskie region and a 50MW/120MWh BESS in the Podkarpackie region.
The BESS is OX2’s first battery project in Poland and also secured a 17-year CM contract in the 2022 auction for 2027 delivery. ESN Premium spoke to Michiel van Asseldonk, technical lead energy storage for the company, about its entry into energy storage shortly after that win.
OX2 has secured a long-term project financing package with NORD/LB and CaixaBank for the projects.
It typically keeps engineering, procurement and construction (EPC) activities in-house on its projects, including those it sells to other firms.
The firm is also active in BESS in Finland and Australia, see all our coverage of the firm’s storage activities here.
Aukera financial close on Belgium BESS
IPP Aukera Energy has reached financial close on its 170MW/340MWh Project Volt BESS in La Louvière, Belgium, developed in a joint venture with Weerts Group.
A debt facility of €97.5 million has been signed and the project will go online in mid-2027.
The project has a 15-year contract in the Belgium’s CM, called the Capacity Remuneration Mechanism (CRM), secured in November 2025.
The project also includes flexible augmentation to support longer durations as the Belgian energy market and grid conditions continue to evolve. Other projects in Belgium tend to be 4-hour duration, including some recently progressed by Storm, Renner and Engie.
Senior debt is being provided by ABN AMRO Bank and Triodos Bank while junior debt is provided by Belgian investors I4B, Wallonie Entreprendre and Socofe.
The project is connected to transmission system operator (TSO) Elia’s high-voltage transmission network at the La Croyère substation.
Pascal Emsens, co-Founder of Aukera said: “Belgium has quietly become one of Europe’s most credible markets for battery storage, anchored by Elia’s Capacity Remuneration Mechanism and a domestic financial community that understands flexibility infrastructure.”
The company is also active in deploying large-scale BESS in the UK as well as Romania.
BRUC secures green loan for 659MW solar, 1.6GWh BESS deployments in Spain
IPP BRUC has closed a €370 million green loan financing deal with Banco Santander and Banco Sabadell for 659MW of solar PV and 1.6GWh of BESS across projects in the province of Teruel, Aragon region.
The projects will operate under power purchase agreements (PPAs) with unnamed offtakers, BRUC said, and will become operational through 2027.
It follows the company securing €474 million (US$554 million) in January to refinance already operational add 858MW of solar PV projects and enable the future financing of 650MW of BESS. Those projects are in Andalusia, Extremadura and Aragon, so these two announced financings may apply to some of the same capacity.
