RGREEN INVEST and Renalfa Solarpro Group have agreed to establish a joint venture named Renalfa Power Clusters to finance renewable energy projects in Romania and Poland.
The partners will jointly commit €200m in equity to the company to support construction of an €800m pipeline of large hybrid renewable energy assets, RGREEN INVEST said.
It added that the venture builds on the partners’ earlier joint venture Renalfa IPP, which has developed utility-scale hybrid assets equipped with long-duration battery energy storage systems.
Renalfa Power Clusters will deploy technologies for renewable generation, storage and dispatch while delivering demand-side optimisation solutions for low-carbon industries and data centres.
The company will use long-duration battery energy storage systems as a core technology supporting electrification and the energy transition.
“Over the past five years, our partnership with the Renalfa team has demonstrated that Europe, and Eastern Europe in particular, can be a fertile ground for innovative business models and advanced financing and risk-management frameworks,” said Nicolas Rochon, founder and chief executive of RGREEN INVEST.
“With RPC, we are taking this ambition to the next level.”
“We are thankful to our partners from RGREEN INVEST for supporting unorthodox ways of investing in renewables,” said Ivo Prokopiev, chief executive of Renalfa.
“Most of the people don’t talk about it, but we are in the midst of the electrification revolution.”