The Project is being implemented at the two sites Elk and Turosn and is owned via two respective special purpose companies (“SPV”) named Magazyn EE Elk Sp. z o.o. and Magazyn EE Turosn Sp. z o.o., incorporated in Poland. Both SPVs are directly wholly owned by Greenvolt Power Group Sp. z o.o..

Greenvolt Power (https://power.greenvolt.com) has operations across Europe, the US, Japan and South Korea, and it manages the utility-scale renewable energy business of Greenvolt. Other business verticals of Greenvolt are Distributed Generation and Sustainable Biomass.

Greenvolt was established in Portugal in June 2002 as an independent power producer and initially focused on production of energy from biomass; it later expanded into generation from other renewable resources. In November 2024, Greenvolt was acquired by KKR and de-listed from Euronext Lisbon. KKR is a global investment firm incorporated in the United States and listed on New York Stock Exchange (NYSE). KKR invests across private markets in every asset class all over the world. As of June 2025, KKR reported USD$ 686 billion in assets under management. 

Total project cost is estimated at approximately EUR 300 million, including a long-term debt financing package of up to EUR 180 million denominated in Polish Zloty (PLN). IFC is considering providing an A loan for IFC's own account of up to the PLN equivalent of EUR 75 million and mobilizing a Parallel Loan of up to the PLN equivalent of EUR 80 million from various commercial lenders. The remainder of the financing package is expected to be provided by another development financing institution. 

City of Elk, Elk County (Warmian Masurian Voivodeship) and village of Turosn Koscielna, Bialystok County (Podlaskie Voivodeship) in Northeast Poland.