RPower has finalized a €54 million (PLN 231 million) financing agreement with the Polish Development Bank for a 72MW pipeline of solar farms across Poland, the company announced on Wednesday.
The solar projects, supported by long-term Purchase Power Agreements (PPAs), are set to be commissioned in 2024 in various regions of Poland. Nomad Electric Services will manage the operations post-construction.
RPower, which is also developing photovoltaic projects in Spain, Portugal, Italy, Romania, and Germany, highlighted the strategic importance of the partnership with the Polish Development Bank in advancing its expansion plans.
“This agreement with a leading financial institution like the Polish Development Bank will accelerate our development of photovoltaic projects in Poland,” said Tomasz Sęk, co-founder and board member of RPower. “It underscores the effectiveness of our strategy and signals our commitment to becoming a key player in the Central and Eastern European region.”
Baker McKenzie acted as the legal advisor to RPower, while DLA Piper advised the Polish Development Bank on the financing agreement, marking RPower's third project finance deal signed this year.
