The Three Seas Initiative Investment Fund will invest €150m of equity in R Power and take a minority stake in the company.
The founding shareholders of R Power will retain a majority stake and continue to lead the company, and the fund retains an option to increase its investment further to a total of €250m.
The fund’s investment will support the company’s long-term growth strategy, with a plan to achieve a 1GWp operating solar portfolio within the next two years across EU markets.
At present, the company is operating and constructing more than 500MWp of utility-scale solar PV plants in Poland and Portugal.
Przemek Pięta, Co-Founder and CEO of R Power, commented: “We are delighted to have 3SIIF and Amber Infrastructure join us in expanding our international business. This investment validates R Power’s track-record in renewables and will play a significant role in our strategy to become a leading European renewable energy IPP and contribute actively to the EU energy independence.
“The raised funds will help us accelerate growth of the company in Poland as well as other markets such as Romania, Germany, Italy, Spain and Portugal.”
Maciej Tarasiuk, Senior Investment Director at Amber Infrastructure, noted: “R Power has been a pioneer in supporting decarbonisation of the Polish energy system through development of solar energy. Over the last decade, a strong and dedicated team has continued to excel in development, construction and management of photovoltaic farms.
“As the exclusive investment adviser to 3SIIF, we are delighted to join the R Power team on the journey towards decarbonised energy production in the CEE region and wider Europe. 3SIIF fully supports R Power’s ambitious development plan that will strengthen its position as a leading international IPP across photovoltaic and ancillary technologies.”