R.Power acquires BNP Paribas debt for 32.7 MWp of Polish solar assets

Poland’s R.Power Renewables has secured debt financing from French BNP Paribas SA to bankroll the construction of a 32.7-MWp portfolio of solar projects in Poland.

The PLN-106-million (USD 26.4m/EUR 24.4m) credit facility will be extended under a loan agreement signed with BNP Paribas Bank Polska, the lender said on Monday.

The debt proceeds will go for the construction of several photovoltaic (PV) projects that R.Power will gradually put into operation this year. The plants will be installed across various regions of Poland and once online will be serviced by domestic operations and maintenance (O&M) services provider Nomad Electric.

All projects in the portfolio are among the winners in Poland’s 2021 renewable energy auctions. They will be run under a power purchase agreement (PPA) and will be also

R.Power, which is active in Poland, Romania, Iberia, Italy, Germany and the Netherlands, has 661 MWp of capacity in operation and under construction and a development portfolio of 9.6 GWp. Last month, it clinched a deal to sell 200 GWh of green electricity annually from its Polish solar farms to shopping platform Allegro.