R.Power concerns eco-friendly bond to finance European solar portfolio expansion

• Polish PV programmer R.Power has actually released a green bond issuance well worth as much as EUR225 million (US$ 274.3 million), the profits of which will be made use of to raise its solar energy capacity in Europe.

R.Power released its very first series of green bonds with a total nominal value of EUR34 million today (9 June), which the company stated would be utilized to finance the development and also construction of solar power projects in Poland and larger Europe in markets such as Italy, Spain and Portugal. mBank served as the intermediary for the bond offering.

R.Power's founder and chief executive Przemek Pięta stated in a statement that the funds will certainly be used to develop the business's property portfolio both via development of its own projects and also via M&A transactions, especially concentrating on projects that are at 'ready-to-build' standing.

"As one of one of the most seasoned solar farm designers in Poland, our company believe that we have the experience and resources needed to supply projects across Europe," claimed Pięta. The business claims to have actually protected EUR120 million for project financing over the past few month.

Previously this year the firm protected a project portfolio in Italy amounting to 160MWp with construction on the initial projects readied to start very early following year. The firm intends to develop greater than 200MWp of solar plants in the country over the next three years.