RPower and the Polish Development Bank have signed a financing agreement worth €54m (PLN231m) for a 72MW pipeline of solar farms in the country.
RPower is also developing PV projects in Spain, Portugal, Italy, Romania, and Germany.
The commercialisation of this portfolio of solar farms is being carried out based on long-term Purchase Power Agreements (PPA).
The schemes are located in various regions of Poland and will be commissioned in 2024 and serviced by Nomad Electric Services after construction.
Baker McKenzie served as the legal advisor for R Power, while DLA Piper advised the Polish Development Bank. This marks the third project finance loan agreement signed by RPower this year.
“Partnership with a leading financial institution such as the Polish Development Bank will enable us to further rapidly develop our photovoltaic projects in Poland,” said co-founder and member of the RPower board Tomasz Sęk.
“The agreement is not only a confirmation of the effectiveness of our strategy, but also a signal that we are on the right track to achieve our ambitious goals of becoming one of the leaders in the Central and Eastern European region.”