In a strategic move to bolster renewable energy capacity in Romania, Eiffel Investment Group has teamed up with R.Power SA, a prominent solar power producer, to establish a joint venture. The primary objective of this collaboration is to collectively develop over 1 GWp of solar photovoltaic projects in the country.
R.Power SA currently boasts a robust portfolio comprising more than 50 solar projects at various stages of development. As part of this partnership, R.Power's pivotal role will involve spearheading the development of these schemes until they reach the shovel-ready state. Meanwhile, the Eiffel Transition Infrastructure 1 fund will actively contribute to the financing of the ambitious solar portfolio.
The announcement, which was made on Tuesday, highlighted the partners' plans to invest up to EUR 26.5 million (USD 29.5 million) in this initiative. Notably, Eiffel Investment Group has been collaborating with R.Power since the previous year, laying the foundation for this significant undertaking.
Pierre-Antoine Machelon, the head of Infrastructure at Eiffel Investment Group, expressed optimism about the venture, stating that it would serve as the third transaction for the Eiffel Transition Infrastructure fund. He emphasized that this joint effort would accelerate the deployment of additional renewable energy capacity in Romania by providing crucial equity during the development phase and capitalizing on R.Power's extensive experience in PV project development. With this partnership in motion, both entities are poised to make substantial contributions to Romania's renewable energy landscape.
