- Financing agreement with Quanta Energy to develop three BESS at a leading European automotive group’s manufacturing facilities in Poland
- Investors benefit from fixed, contracted cash flows from behind-the-meter infrastructure backed by investment grade off-taker
- With combined storage capacity of 50 MWh, the BESS are expected to deliver 105,000 tCO₂e emission reductions
- Third transaction with Quanta, reflecting Solas Capital’s approach of building long-term partnerships to scale industrial decarbonisation
Solas Capital AG has signed its third transaction with Quanta Energy S.A., part of R.Power Group, a leading provider of behind-the-meter solar PV and BESS technologies for commercial and industrial customers across Europe.
Under the financing, Quanta has issued senior secured project notes — subscribed by the Solas Sustainable Energy Fund ICAV (SSEF) — to fund the development of three behind-the-meter BESS in Poland, with a combined capacity of 25 MW and able to store 50 MWh for on-site consumption. The notes are secured against fixed project cash flows contracted with one of Europe’s leading automotive groups, providing SSEF investors with predictable, fixed income during the fund term. The project benefits from coverage under the EU Credit Loss Guarantee, which supports a majority of SSEF investments.
The BESS projects, expected to be commissioned by the end of 2026, will provide peak shaving and flexibility energy services to two of the automotive group’s manufacturing facilities, complementing solar PVs financed in a previous transaction with Quanta. By storing renewable electricity produced behind the meter, the BESS reduce dependence on grid supply and exposure to energy price volatility, lowering the facilities’ energy costs and supporting European energy security. Expected to deliver approx. 105,000 tCO₂e emission reductions over the project tenor, the installations also contribute to the decarbonisation of Europe’s energy-intensive industries.
The partnership between Quanta and Solas Capital has already contributed to one of the largest self-consumption solar PV projects in Europe: an 18.3 MW installation in Poland for a separate global mobility and automotive manufacturing group. This third transaction under a financing framework agreement reflects Solas Capital’s approach of building long-term partnerships with best-in-class energy service companies (ESCOs), enabling efficient capital deployment at scale. Drawing on the expertise of Europe’s largest investment team dedicated to energy effiency and behind-the-meter financing, Solas Capital enables Quanta to offer its solutions to sizable C&I customers at zero upfront costs, removing the main barrier to industrial decarbonisation investments.
Through our expertise in unlocking and scaling financing for behind-the-meter projects, Solas Capital is accelerating the decarbonisation of European industry. This transaction adds to a portfolio of more than 4,600 financed projects across nine European countries, delivering more than 4,100 GWh in energy reductions and €430 million in energy cost savings to European businesses, households and municipalities.
Quotes from the project partners
Slawomir Huss, Partner & Head of Investment Team at Solas Capital AG:
“Financing battery energy storage systems requires a strong understanding of market dynamics and grid needs. At Solas Capital, we have built this expertise over time and see BESS becoming a key asset for Europe’s decarbonisation and energy resilience. Our partnership with Quanta reflects this development. Alongside their proven track record in solar PV, their expansion into storage addresses growing demand for flexibility and grid stability. We are pleased to support this next phase and contribute to strengthening Europe’s energy system.”
Piotr Grzybczak, CEO of Quanta Energy S.A.:
“This next stage of our partnership with Solas Capital shows how experienced capital, combined with the right project execution capabilities, can turn complex energy projects into practical solutions for industrial customers. It also confirms that energy storage is becoming an essential part of industrial decarbonisation in Europe, a transformation Quanta is actively helping to drive.”
Sebastian Carneiro, CEO at Solas Capital AG:
“For our investors, this transaction combines long-term contracted cash flows secured by one of Europe’s leading automotive groups while directly addressing Europe’s key energy challenges: industrial decarbonisation, energy security, and grid congestion. Battery storage addresses all three at once, which is why we see it becoming a growing allocation in institutional portfolios. Quanta Energy is an important player in the BESS-as-a-Service market across Central and Eastern Europe, and we look forward to deepening our relationship through this financing”.
Read the full press release below.