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2023-11-06 00:00:00
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EBRD's Major Investment in Polish Renewable Powerhouse R.Power
The European Bank for Reconstruction and Development (EBRD) is championing green energy in Poland by backing R.Power S.A, a key player in renewable energy development and power production. With a €75 million investment, the EBRD reinforces its commitment to the company, following its participation in R.Power's green bond in 2022.
R.Power, a fast-expanding Polish renewable energy developer, has extended its footprint beyond Poland, marking its presence in several EU countries. This investment aligns with the EBRD's collaboration with the Three Seas Initiative Investment Fund (3SIIF), marking their inaugural joint venture.
This financial infusion from EBRD and 3SIIF will catalyze R.Power's ambitious growth plans, aiming for a 1 GWp solar photovoltaic (PV) portfolio in the EU within two years, significantly reducing greenhouse gas emissions. The EBRD's support will also guide R.Power in bolstering its environmental, social, and corporate governance, with a keen focus on managing supply-chain risks.
Awaiting regulatory approvals, this investment arrives at a crucial time, as raising capital becomes challenging amidst global energy security concerns. This move underlines the importance of distributed renewable energy, not only for achieving global net-zero targets but also for ensuring a stable and affordable energy supply.
Grzegorz Zielinski from the EBRD highlights R.Power's critical role in the energy transition in Poland and the region. Elisabetta Falcetti, EBRD Regional Director, emphasizes the investment's alignment with the EBRD's strategic goals in Poland, enhancing green transitions and bolstering private sector resilience.
Przemek Pięta, R.Power's co-founder and CEO, regards the EBRD's substantial equity investment as a testament to R.Power's mission and capabilities. Joe Philipsz from 3SIIF applauds the EBRD's investment and R.Power's success in developing and operating significant solar assets.
Amber Infrastructure Group, advising 3SIIF, manages substantial funds and specializes in infrastructure investments globally. R.Power, as Poland's leading independent solar power producer, is committed to the entire solar energy value chain, boasting a robust portfolio of over 1.3 GWp in limited-risk projects.
This strategic investment positions R.Power to accelerate renewable energy deployment and advance towards a brighter, greener future.
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