Poland's R.Power raises EUR 53m from green bond issue

Polish independent solar power producer R.Power said that it has raised PLN 250 million (USD 56.3m/EUR 53.1m) under the current green bond programme, securing funds for the development of projects in Poland and abroad.

The issuance attracted two new bondholders, lenders Bank Gospodarstwa Krajowego and mBank, which subscribed to bond series totalling PLN 75 million, R.Power said.

The notes are in line with the Green Bond Principles (GBP) guidelines, according to the issuer.

The company will use the proceeds to fund, develop, build and operate solar PV plants. Polish contractor Nomad Electric will be in charge of the plant productivity, operations and maintenance.

(PLN 1.0 = USD 0.225/EUR 0.212)

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