Polish independent power producer (IPP) R.Power has raised US$50.7 million (€43 million) in finance to support the development of a 70.5MW solar PV portfolio in Poland.
The latest round of financing will be used to advance a portfolio of nine projects, some of which are already in operation, of which R.Power said “the balance [will be] constructed and commissioned by the end of 2026.” The finance was secured from Poland-based Bank Millenium and brings the total finance raised by R.Power in the last 12 months to €150 million.
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The last year has seen significant portfolio shuffling from R.Power, which divested from a number of solar PV projects in its home country in August and May. The company has since invested in new renewable energy projects across Europe—securing its first international financing for a 44MW project in Portugal—and across technologies—finalising a €45 million debt package for its first battery energy storage system (BESS) project.
“This work has fuelled our expansion across multiple European markets,” said R.Power CIO Michał Swół, highlighting the company’s diversified investment strategy in the last year. “With one of Europe’s largest investor-ready pipelines of utility-scale storage and renewables projects, we expect to be even more active in the project financing arena in 2026.”
Looking ahead, R.Power also announced that it has secured €118 million in grant agreements with the National Fund for Environmental Protection and Water Management—the body that operates Poland’s component of the EU’s Modernisation Fund, an initiative to improve the energy systems of EU member states whose GDP per capita is less than 60% of the EU average—to “implement priority BESS projects”. While the company did not provide further details on these projects, its continued investment in BESS demonstrates the attractiveness of storage as an investment in Poland.
This could also be motivated by proposed new regulations that would introduce non-refundable fees for developers who make applications to the national grid to determine the viability of securing a grid connection. Ewa Magiera, president of the Polish Association of Photovoltaics and Energy Storage (PSFiME), said these fees could increase capex by as much as €3.2 billion, a situation that could make new solar developments in the country all but prohibitively expensive.
