Eiffel fund, R.Power to jointly develop 1 GWp of solar in Romania

A fund managed by Eiffel Investment Group has set up a joint venture with Polish solar power producer R.Power SA to co-develop over 1 GWp of solar photovoltaic (PV) projects in Romania.

Having more than 50 solar projects at various stages of development, R.Power’s role in the partnership will be to develop the schemes through to the shovel-ready state. The Eiffel Transition Infrastructure 1 fund, on the other hand, will contribute to the financing of the portfolio.

According to the announcement on Tuesday, the partners plan to invest up to EUR 26.5 million (USD 29.5m). The French asset manager has been working with R.Power since last year.

“This third transaction for Eiffel Transition Infrastructure fund will accelerate the deployment of additional renewable energy capacity in Romania by bringing much-needed equity in the development phase of the projects and leveraging R.Power’s strong experience of PV development,” commented Pierre-Antoine Machelon, head of Infrastructure at Eiffel Investment Group.

(EUR 1.0 = USD 1.112)

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