R.Power Group with a financing agreement worth PLN 864 million (EUR 189 million) for the construction of PV projects with a capacity of 299 MWp


Last year, the R.Power Group commissioned a portfolio of photovoltaic farms with a capacity of over 175 MWp. Over the next months, the total volume of power that R.Power plans to deliver will be over two times greater. Moreover, as part of the RES auctions conducted the last dozen or so months, R. Power secured the rights to sell energy from project portfolios with a total capacity of over 400 MWp. In total, in Poland the company is developing a project portfolio of over 6 GWp, which makes it the largest photovoltaic sector player in the country.

– This is already the fourth loan agreement we have concluded in the last 20 months. Under bank financing for the construction of photovoltaic projects, we have so far procured a record amount of PLN 1,636 million (EUR 357 million). In June last year, we also established the highest bond programme in the history of the Polish PV sector, worth PLN 1 billion. Apart from Poland, we develop our projects in other European countries as well, such as Portugal, Spain, Italy, Germany, or Romania. We believe that the energy transformation and the related growing demand for green energy will provide us with stable and fast growth. – claimed Przemek Pięta, president of the management board of R.Power Group.

The commercialisation of the financed projects has been partly secured through a PPA and through 15-year CFD contracts that ensure a guaranteed level of electricity sales prices. Santander Bank Polska SA acts as Agent, Security Agent and Account Bank. In addition, ING Bank Śląski SA acts as Hedging Transaction Coordinator. The projects covered by the agreement are located throughout Poland. Nomad Electric will be responsible for farm productivity, operations and maintenance (O&M).