Renewable energy company R.Power has secured an additional €25 million in equity financing from the European Bank for Reconstruction and Development (EBRD) and the Three Seas Initiative Investment Fund (3SIIF), the company said on Thursday.
The latest investment was made through the subscription of a single new share, maintaining the company’s existing ownership structure. It is the latest tranche under an ongoing investment agreement, bringing total equity raised to €225 million so far. R.Power said it expects further capital increases in the coming months.
“This new capital increase is a strong vote of confidence from our financial partners,” said Przemek Pięta, chief executive of R.Power. “It demonstrates that we are consistently delivering on our objectives and strengthening R.Power’s position in the European renewable energy market.”
R.Power plans to use the new funding to accelerate development of its renewable energy pipeline, with a particular focus on energy storage systems and hybrid solar-wind projects.
The company operates in six European markets — Poland, Romania, Italy, Portugal, Spain and Germany — and is developing a portfolio exceeding 30 gigawatts of renewable energy capacity.
Its business model includes long-term energy sales supported by power purchase agreements (PPAs) and contracts for difference (CfDs). Engineering, procurement and construction, as well as operations and maintenance services, are provided by its subsidiary, Nomad Electric.
Through another subsidiary, Quanta Energy, R.Power also delivers integrated renewable energy solutions for industrial and institutional clients.
