R.Power enters Germany with co-development deal for 80MWp of solar

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
R.Power currently has a presence in Poland, Portugal, Spain and Italy. Image: R.Power.

Poland’s R.Power has entered the German solar market after signing co-development agreements with local developers to collaborate on PV projects in the country.

The partnerships will initially result in the development of 80MWp of PV plants across Germany that are expected to be supported by long-term power purchase agreements or the country’s solar auctions.

R.Power has already secured funds for the acquisition of the projects having established a programme last month to issue green bonds with a total nominal value of up to PLN1 billion (US$222 million).

Tomasz Sek, co-founder of R.Power, told PV Tech that the company selected Germany because it is a market that “is going to be fairly stable in terms of the overall environment and growth in the next two or three decades”.

He said Germany is fairly similar to Poland as they both have stable regulations in terms of environmental and permitting processes. In addition to the co-development agreements announced today, R.Power has ongoing discussions with other developers in the country that could become collaborations in the future.

The company currently has a presence in Poland, Portugal, Spain and Italy. Sek said it is aiming to be operational in European countries that install more than 1GW of PV capacity per year and is now considering its expansion into the Netherlands and Romania.

Having installed 4.8GW in 2020, Germany’s cumulative solar PV capacity at the end of last year reached around 54.6GW. By 2030, the country is aiming to have 98GW deployed.

Read Next

PV Tech Premium
July 9, 2021
Solar’s dominance in recent renewables auctions in Poland has further reinforced the promising outlook for the market, with developers and analysts welcoming support provided for the construction of smaller projects.
July 9, 2021
German renewables asset operator Blue Elephant Energy has shelved plans for an initial public offering (IPO) after it secured a €75 million (US$88.8 million) cash injection.
July 1, 2021
Heterojunction cell and module manufacturer Meyer Burger has raised approximately US$258 million through the placement of shares and green bonds as it looks to accelerate its push into international solar module markets.
June 28, 2021
Solar PV bidders picked up around 2.2GW of capacity in Poland’s latest renewables auctions, the country’s Energy Regulatory Office (URE) has announced.
June 23, 2021
Major system-wide benefits are obtainable for European power producers that quickly replace coal with renewable energy, from avoiding fuel and carbon costs to new power export opportunities.
June 9, 2021
Polish PV developer R.Power has launched a green bond issuance worth up to €225 million (US$274.3 million), the proceeds of which will be used to increase its solar power capacity in Europe.

Subscribe to Newsletter

Upcoming Events

Solar Media Events, Upcoming Webinars
July 29, 2021
Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021