R Power secures $218 million for 299 megawatts of solar in Poland

Polish solar developer R Power Group has secured a financing agreement worth €189m for the construction of photovoltaic projects totalling 299MW in Poland.

A consortium of banks composed of ING Bank Slaski, Santander Bank Polska, Erste Group Bank, PKO Bank Polski and Bank Pekao has signed the agreement.

R Power won the 299MW of solar capacity in renewable energy auctions in 2021.

R Power commissioned a portfolio of solar farms with a capacity of over 175MW in 2020.

The company has secured the rights to sell energy from project portfolios with a total capacity of over 400MW in auctions conducted over the last several months.

In total, in Poland the company is developing a project portfolio of over 6GW, which makes it the largest photovoltaic sector player in the country.

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