Polish PV developer R.Power has sold a 49.9% stake in two of its special purpose vehicles (SPVs), which are developing a solar portfolio of 91.6MWp, to an undisclosed financial investor.
These SPVs are developing PV projects in Krzyżowa and Lasocice in southern and western Poland, respectively. According to the Polish developer, the projects are expected to begin commercial operations by 2027.
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The partnership was formalised through the signing of conditional investment agreements. The companies aim to include the construction of onshore wind energy project at the same grid connection point as the Lasocice project.
Additionally, the integration of battery energy storage systems (BESS) is under consideration for both sites at a later stage. The agreement also provides the option to expand the total capacity.
Katarzyna Suchcicka, vice president of the management board at R.Power, said: “This is another step in executing our project financing strategy – collaborating with trusted investors allows us to accelerate the energy transition and scale up our investments.”
In November 2024, the firm issued green bonds worth PLN530 million (US$142 million) to support solar and storage projects in the country. The European Bank for Reconstruction and Development (EBRD) invested up to PLN127.8 million, with R.Power committing an equivalent amount to BESS in EBRD-linked projects. Previous to securing the green bonds, R.Power signed a PLN231 million loan agreement with the Polish Development Bank in July 2024 to develop a 72MWp solar PV portfolio across various regions of Poland.
In March 2024, R.Power contracted a 134MWp solar PV portfolio in the region, consisting of 19 projects, for which it secured module supply from Chinese solar manufacturer LONGi and inverters from Huawei.
