Eiffel Transition Infrastructure, a fund managed by Eiffel Investment Group, a leading French asset manager, and R.Power, a prominent renewable energy company, have formed a strategic joint venture (JV) to accelerate the development of solar photovoltaic (PV) projects in the Romanian market. The aim of this collaboration is to develop a portfolio of more than 1 GWp of PV projects, significantly advancing the growth of clean energy generation in the region.
R.Power brings a portfolio of more than 50 solar PV projects at various stages of development and Eiffel Transition Infrastructure fund contributes to the financing of the development of the portfolio. The partners will invest up to €26.5 million. R.Power teams will develop the projects until they are ready-to-build. Once operational, these projects are expected to provide over 500 000 Romanian homes with renewable electricity, thereby contributing to avoiding the emission of the equivalent of up to 420 000 tpy of carbon dioxide.
This partnership builds upon the successful collaboration between Eiffel Investment Group and R.Power, who have been working together since 2022. The joint venture signifies their shared commitment to expanding their renewable energy initiatives in the Romanian market by combining the long experience and skills of both partners in this activity.
Pierre-Antoine Machelon, Head of Infrastructure at Eiffel Investment Group, stated: “We are very excited about this new partnership with R.Power. This third transaction for Eiffel Transition Infrastructure fund will accelerate the deployment of additional renewable energy capacity in Romania by bringing much-needed equity in the development phase of the projects and leveraging R.Power’s strong experience of PV development.”
Przemyslaw Pieta, CEO of R.Power, stated: “We are thrilled to partner with Eiffel Investment Group in this joint venture, as we embark on an ambitious journey to develop 1 GWp of PV projects in the Romanian market. This collaboration aligns with our mission to drive the global energy transition and underscores our commitment to delivering sustainable and cost-effective renewable energy solutions. Together with Eiffel, we are poised to make a significant impact on the Romanian market and contribute to a greener and more sustainable future.”
The JV between Eiffel Investment Group and R.Power represents a significant milestone in their collective efforts to advance the adoption of clean energy solutions. By combining their expertise and resources, both entities are well-positioned to contribute to the global fight against climate change and foster the growth of renewable energy in the Romanian market.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
The Summer 2023 issue of Energy Global hosts an array of technical articles focusing on alternative fuels, battery storage solutions, solar optimisation, and more. This issue also features a regional report on the recent developments in the European renewables market.
Read the article online at: https://www.energyglobal.com/solar/25072023/eiffel-investment-group-and-rpower-to-develop-pv-projects-in-romania/
You might also like
Fortum will invest over SEK 700 million during 2023 – 2030 to modernise Untra, one of Sweden's oldest hydropower plants.