R.Power seeking equity capital raise to fund European solar PV development plans

• Polish programmer R.Power is seeking a key equity capital raise to fund its future growth plans in numerous European nations.

Announced today (6 July), R.Power said its management board had actually decided to seek added financing in order to "further accelerate the following phase of the Company's development strategy" across Poland, Italy, Romania, Portugal, Spain as well as Germany.

While the company did not divulge the quantity of resources sought or the targeted ability across those nations, it has currently stated its intent of developing 1GW of PV in Italy alone.

And also in February, it got EUR189 million (US$ 215 million) from a financial consortium to fund its 299MW portfolio of solar PV projects in its house country of Poland, where it additionally has actually increased its visibility using the purchase of Poland-based PV devices dealer Menlo Electric.

R.Power said it planned to "engage in conversations with a team of monetary investors", with the potential brand-new investor offered a possibility to end up being a minority shareholder in the company.

R.Power claimed it has a current advancement portfolio of approximately 7GW of solar PV assets and also has a de-risked solar PV portfolio of around 800MW.

Global investment financial institution Morgan Stanley & Co. been gotten as the economic adviser to the R.Power on the transaction.