Renewable developer R.Power has secured PLN181 million (€43 million) in project financing from Bank Millennium for a portfolio of photovoltaic assets in Poland, the company said.
The nine-project portfolio comprises operating plants and additional sites scheduled for construction and commissioning by the end of 2026. Revenues are expected to be supported by a mix of contracts for difference (CfDs) and a 470GWh power purchase agreement.
R.Power said the latest deal brings its total project financing raised over the past year to around €150 million, as it continues to expand its presence in European debt markets.
The company highlighted a series of recent milestones, including its first international financing for 44MWp of solar in Portugal, its first Romanian project financing covering 23MWp, and its first German solar project financing for the 20MW Klotze plant.
Additional progress included a €49 million loan for the 127MWp Żary-Marciszów project funded under Poland’s National Recovery and Resilience Plan, as well as credit approval for its first battery energy storage system financing for the 127MW/254MWh Scornicesti project.
“R.Power has built a demonstrable track record in the debt markets, earning the backing of multiple respected banks and institutions across Europe,” said Michał Swół, chief investment officer at R.Power.
“With one of Europe’s largest investor-ready pipelines of utility-scale storage and renewables projects, we expect to be even more active in the project financing arena in 2026,” he added.
Separately, the company said it secured PLN499.1 million (€118 million) in grant agreements for priority battery storage projects and issued its first euro-denominated green bonds last year through a €30 million subscription from International Finance Corporation.
An additional subscription of up to €20 million is anticipated, which would lift combined euro and zloty bond issuance to more than €195 million, the company said.
R.Power reported that its grid-secured development pipeline exceeds 10GW across six markets, complementing a 1.4GW portfolio that is either operational or under construction and backed by debt financing and long-term offtake agreements.
