R.Power Obtains Loan for 59 MWp Solar Projects in Poland

Polish solar developer R.Power SA Group has secured close to PLN 190 million (USD 47m/EUR 44m) in project finance to fund the construction of a portfolio of solar projects in Poland.

The company said on Wednesday it had signed a credit agreement with Polish lender PKO Bank Polski SA, obtaining long-term debt financing worth PLN 75.5 million and EUR 26.7 million. The terms also cover auxiliary financing, including for VAT tax financing and a guarantee line to secure obligations of the corporate power purchase agreement (CPPA).

The funding will support the construction of 59 MWp of solar farms across Poland.