Poland's R.Power, Romanian partner to develop 100MWp PV projects

Polish solar projects developer R.Power signed a cooperation agreement with an unnamed Romanian peer company to develop photovoltaic projects with a total capacity of up to 100 MWp in the Southeast European country, it said on Wednesday.

"Romania is an emerging market with a great potential. We are negotiating with further developers in the photovoltaic sector, and are open to new business opportunities. We want to take advantage of the increasingly friendly legislative environment and support the authorities in achieving their sustainable development goals," R.Power CEO Przemek Pieta said, as quoted in a company press release.

In June, the company established a programme to issue green bonds with a total nominal value of up to 1 billion Polish zlotys ($261 million/222 million euro). Bonds with a total nominal value of 150 million zlotys were issued under the first series, and some of them will be used for projects development in Romania.

According to the provisions of the European Green Deal, Romania must achieve a target of 30.7% share of renewable energy in the energy mix by 2030. This means that over the next ten years the increase in capacity from renewable energy sources should be around 6 GW per year, R.Power noted.

R.Power is the largest company in the photovoltaic sector in Poland, where it is developing a portfolio of solar farms with a capacity of over 5 GWp. It has projects in various European countries including Poland, Italy, Spain and Portugal. The company operates in the entire value chain on the PV market – it develops and implements power plant projects, build the plants and provides professional management, service and maintenance services for solar farms and is a producer of energy from photovoltaic power plants.

Over the last two years, R.Power has obtained project financing worth a total 772 million zlotys.

(1 Polish zloty =0.22 euro)

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