July 29 (Renewables Now) - The European Bank for Reconstruction and Development (EBRD) said on Friday that it is investing PLN 80 million (USD 17.3m/EUR 16.9m) in green bonds issued by Polish solar projects developer and power producer R.Power SA.

The investment will enable R.Power to reach financial close on an additional 96 MW of solar PV projects and start implementing them in 2022, EBRD said.

For the multilateral investment bank, the transaction represents its first bond investment into a renewables developer at holding company level in Poland, and adds to its traditional project financing at the asset level, it said.

R.Power is a vertically integrated solar power developer and producer. According to R.Power’s figures, the company has 672 MWp of solar farms in operation and under construction, and 6.5 GWp of projects in development.

R.Power is active in Poland, Romania, Spain, Italy and Portugal.

(PLN 1.0 = USD 0.216/EUR 0.211)

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