R.Power bags financing for Polish solar farms

• Polish designer pens financing deals for 183MWp of solar

03 November 2020: Poland's R.Power has safeguarded moneying to build a profile of solar farms in the nation with an overall ability of 183MWp, as the developer discloses its passion to expand abroad.

Santander and mBank have provided PLN 530 million (US$ 136 million) that will be used to finance the projects that R.Power won in recent solar auctions, with the business saying it will sign 15-year contracts to offer them with guaranteed tolls for the electricity created.

Increased by a multi-gigawatt tender towards the end of last year, Poland's solar field looks set to be on program for substantial growth, according to current study. Citing numbers from PSE, Poland's transmission system driver, R.Power said total mounted PV ability in the nation has gotten to 2.7 GWp.

R.Power previously this year safeguarded what it declared was Poland's "biggest solar" deal to day with the sale of a 122MWp fleet of ground-mounted PV to UK asset manager Aberdeen Standard Investments.

Przemek Pięta, founder and also CEO of R.Power, said the business is carrying projects in Italy as well as Portugal and also aims to increase its service to at least 10 international markets in the coming years.

While Poland is the only European Union member state that hasn't promised to become carbon neutral by 2050, the country's biggest utility, Polska Grupa Energetyczna, last month disclosed strategies to develop 3GW of solar in the next ten years as it aims to change to 100% renewables by mid-century.