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R.POWER to finance solar farms in Poland

Published by , Editorial Assistant
Energy Global,

R.POWER will build a portfolio of solar farms with a total capacity of 183 MWp under secured financing. The power plants will contribute to reduction in CO2 emissions by over 170 000 t, about as many as 90 000 passenger cars a year.

All power plants have won Renewable Energy Systems (RES) auctions and will sign 15-year differential contracts providing them with a guaranteed level of electricity sales prices. In the recent years, R.POWER has won solar auctions for the total installed capacity of almost 300 MWp. The banks financing the construction of the company’s solar farms are mBank (PLN 355 million, approximately €78 million) and Santander Bank (PLN 175 million, approximately €38 million).

According to data from Polskie Sieci Elektroenergetyczne (PSE) – a Polish transmission system operator - the total installed photovoltaic (PV) capacity in Poland was 2.7 GWp as of 1 October 2020. For five years, Poland has had a system of support for RES projects, through the auction system. Under the auctions carried out between 2016 - 2019, support was provided to more than 2000 projects. The total value of energy covered by the winning bids was over PLN 38 billion. As a result of the auctions, almost 154 TWh of energy was sold in total.

In Poland alone, R.POWER is developing a portfolio of PV power plants of over 2 GWp. Abroad, the company has been developing solar projects in Portugal, Italy and Spain. It operates in the entire value chain on the PV market, developing solar projects, as well as providing management, operation and maintenance services for solar farms.

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