Polish independent power producer (IPP) R.Power has secured a €41.6 million (US$47.3 million) project finance facility for four solar projects in Romania with a combined capacity of approximately 75MWp.
The financing package comprises €34.1 million (US$38.8 million) and RON39.5million (US$8.5 million) and has been provided through a deal between ING Bank NV and UniCredit Bank SA, with each lender contributing an equal share.
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The portfolio includes four PV projects, among them a 55MWp high-voltage installation. The projects are scheduled to be connected to the grid in 2027.
“We have built a substantial pipeline of well-located, grid-secured assets across the region, and we are now seeing that pipeline translate into financed, operational capacity,” said Michał Swół, chief investment officer at R.Power.
The developments form part of R.Power’s Romanian pipeline, which the company said totals 2GW and includes two operational solar projects as well as projects awarded contracts for difference (CfDs) in Romania’s 2024 auction round.
The transaction increases the total amount of project finance secured by R.Power in 2026 to approximately €250 million (US$284.5 million), according to the company. The company plans to add battery energy storage systems (BESS) at the selected sites.
The Warsaw-based IPP, founded in 2010, is backed by equity investors including the European Bank for Reconstruction and Development (EBRD) and the Three Seas Initiative Investment Fund (3SIIF), advised by Amber Infrastructure. The company has 1.4GW of renewable energy capacity either operational or under construction.
R.Power’s development pipeline includes more than 10GW of utility-scale battery energy storage, hybrid and renewable generation projects across Poland, Romania, Germany, Italy, Portugal and Spain. In Central and Eastern Europe, its solar pipeline totals 10GW across Poland and Romania.
Recently, the company secured project financing for the 80MW Lasocice solar PV project in western Poland.
The financing was provided by ING Bank Śląski to one of R.Power’s affiliates and comprised loans of €39.8 million (US$46.6 million) and PLN18 million (US$5 million), according to a company announcement. The project is scheduled to be connected to Poland’s grid in the second quarter of 2027.
