Polish solar developer R Power has secured investment for its green bonds focused on renewable energy.
The European Bank of Reconstruction and Development (EBRD) invested €17m in green bonds issued by the company. This transaction is expected to support a faster roll-out of solar PV projects in Poland.
It has been reported that this is EBRD’s first bond investment into a renewable developer at holding company level in Poland. So far, the EBRD has invested €3.44 billion into 476 projects across Poland.
Issuing a statement, the bank informed that the transaction will support an additional 96MW of solar PV to achieve financial close and start implementation in 2022.
“The EBRD support comes at a time when raising capital is increasingly difficult and the need to accelerate the development of renewable energy is greater than ever, due to the war on Ukraine and global energy security concerns,” the statement reads.
R Power aims to become a fully integrated regional pioneer in the renewables market.