Eiffel Investment Group and R.Power sign a EUR 30 million loan agreement

Eiffel Investment Group and R.Power Investment B.V., a wholly-owned subsidiary of R.Power SA – a vertically integrated international solar photovoltaic power plants developer and independent power producer based in Poland – have entered into a loan agreement up to the amount of EUR 30 million (with an option to increase the loan amount to EUR 40 million) for a period of up to 18 months. The loan was granted from bridge financing funds managed by the French investor Eiffel Investment Group.

    Share

    The loan will allow R. Power Group to finance further dynamic growth in foreign markets. The funds raised will be used to finance the construction of photovoltaic parks in EU countries such as Portugal, Italy and Poland. In addition, they will help build the company's position as a fully integrated regional player in the renewable energy market.
    “In a few years we would like to be at the top of independent energy producers in Europe. The financing agreement with Eiffel Investment Group is another big step in our international development. Importantly, this is the first financing of the R. Power Group in euros and, thanks to the natural hedging, allows us to reduce the exchange rate risk” says Przemek Pięta, CEO of R.Power Group.
    Pierre-Antoine Machelon, Head of Infrastructure at Eiffel Investment Group, commented, “We are very happy to support R.Power Group's acceleration and development by financing its renewable energy projects in Poland and other European geographies. Providing financing for renewable energy projects in these European markets is key to making the energy transition seamless across Europe.”