Polish Development Fund buys PLN 120m of R.Power green bonds

• Polish solar project programmer as well as power producer R.Power SA has issued PLN 120 million (USD 25.5 m/EUR 25.4 m) of green bonds to a fund handled by the Polish Development Fund (PFR), the company claimed on Thursday.

The take care of PFR Closed-end Investment Fund of Non-Public Assets (FIZAN), part of whose financial investment portfolio is taken care of by PFR, comes quickly after a PLN-80-million green bond problem to EBRD.

The combined profits will certainly be used to sustain the development of R.Power's portfolio in Poland. The solar designer has actually until now provided PLN 450 million under its green bond issuance programme of up to PLN 1 billion.

"The investment in R.Power's green bonds will allow to preserve the development momentum of one of the most swiftly expanding Polish companies in the area of renewable resource sources," stated PFR vice head of state Bartlomiej Pawlak.

R.Power claims it is currently creating a portfolio of over 7 GWp and also is likewise stepping up development in Spain, Portugal, Italy, Germany as well as Romania.