Poland-based renewable energy developer R.Power has clinched a substantial €75 million (US$79.5 million) investment from the European Bank for Reconstruction and Development (EBRD), marking the second collaboration between the two entities. This infusion of capital is earmarked to bolster R.Power's renewable energy initiatives, including the ambitious development of a 1 GW solar PV portfolio spanning multiple European countries in the coming years.
The EBRD's participation in this financing aligns with its commitment to supporting R.Power's strategic growth objectives. It builds on the earlier €150 million investment made by the Three Seas Initiative Investment Fund (3SIIF), a dedicated commercial fund focused on infrastructure investments in central and eastern Europe. This substantial capital injection demonstrates a strong vote of confidence in R.Power's mission and its capacity to emerge as a prominent European independent power producer.
Przemek Pięta, co-founder and CEO of R.Power, expressed his appreciation for the EBRD's significant equity investment, emphasizing its pivotal role in advancing the company's mission. Pięta stated, “This investment will bolster our financial strength and allow faster deployment of renewable energy in our region. With the new proceeds, we are well positioned to accelerate our efforts towards a brighter and greener future for all.”
R.Power's portfolio currently encompasses an impressive 1.3 GW of projects at various stages of development across multiple European nations, including Poland, Romania, Germany, Spain, Italy, and Portugal. In Romania, the company has formed a strategic joint venture with asset manager Eiffel Investment Group to co-develop a substantial 1 GW of solar PV capacity.
The partnership between R.Power, the EBRD, and the 3SIIF not only underscores the growing momentum in the renewable energy sector but also highlights the commitment to advancing green energy solutions across Europe. As R.Power continues to expand its footprint in the renewables market, this significant investment will undoubtedly catalyze the transition toward a more sustainable and environmentally conscious future.
