mBank to finance R.POWER photovoltaic projects

This is a third agreement between the aforementioned parties for financing a portfolio of photovoltaic projects. The total value of all loans granted to the R.POWER Group by mBank has reached PLN 355 million.

The latest round of project financing for the R.POWER Group will be used to build 32 power plants with a total capacity of 29.4 MWp across Poland. The energy generated by the portfolio of those plants could cover an electricity demand of over 10 000 households.

Power plants do not cause environmental pollution - what is more, they contribute to the reduction of CO₂ emissions by about 30 000 t. That is about as many as 20 000 passenger cars a year.

All projects will use bifacial solar panels, which absorb light on both sides, making it possible to obtain more energy from a single solar system. The projects were secured by a guarantee of selling energy in an auction system. Construction of new power plants will start later this year, with completion planned for the 3Q2021.

As part of its strategy to support RES projects adopted a few years ago, mBank has consistently increased its share in financing these types of activities and currently, since March, the funding limit has already reached a record amount of PLN 2 billion.

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The Summer issue of Energy Global provides in-depth technical articles covering technological advancements and future outlooks in the renewables sector, from companies including Sulzer, Power Ledger, JinkoSolar, Trelleborg Applied Technologies, Clir Renewables, and many more. The issue covers a spectrum of clean energies, from wind to hydrogen to solar to biofuels.

Read the article online at: https://www.energyglobal.com/solar/22102020/mbank-to-finance-rpower-photovoltaic-projects/