R.Power, new partner to co-develop 80 MWp of solar in Germany

Source: R.Power

July 6 (Renewables Now) - Polish solar project developer R.Power sp. z o.o. is getting ready to acquire 80 MWp of photovoltaic (PV) projects in Germany which it will co-develop with a local partner.

The company announced on Tuesday that it has inked a cooperation deal with said partner, described as “one of the key developers of PV farms in Germany.” Together, they will develop projects in various regions of the country, making greenfield investments both according to auction requirements based on the Renewable Energy Sources Act (EEG) and based on long-term power purchase agreements (PPAs).

“Germany, as a key market in the region, is the next step for us. We want to commission projects of a capacity of at least 100 MWp here annually. In the nearest future, we plan to sign further agreements with German developers, as well as to independently search for land for future PV farms,” said Przemek Pieta, co-founder and CEO of R.Power.

Last month, the company issued PLN 150 million (USD 39.4m/EUR 33.3m) worth of green bonds under a new programme for up to PLN 1 billion in total issuances. It said today it intends to use a portion of the proceeds from the initial issue for its development in Germany.

(PLN 1.0 = USD 0.263/EUR 0.222)

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