R.Power has attracted additional capital of 75 million euro from the EBRD, following the investment made in March 2023 by the Three Seas Initiative Investment Fund (3SIIF), which brings the total equity capital employed in 2023 to 250 millions of euros.

R.Power is a vertically integrated renewable energy developer and independent power producer based in Poland. The capital increase provided by 3SIIF and EBRD will support R.Power’s long-term growth strategy, with a plan to reach a portfolio of 1 GW of operational PV capacity in the next two years across the European Union, achieving significant emissions savings greenhouse gases. The transaction remains subject to obtaining regulatory approvals.

R.Power is one of the fastest private developers of renewable energy in Poland. In recent years, the company has managed to significantly increase its portfolio of renewable energy sources in Poland, Romania, Germany, Italy, Spain and Portugal. This is the EBRD’s second investment in R.Power, after participating in its 2022 green bond issue.

R.Power represents 3SIIF’s fifth investment and complements its existing energy investments. Since March 2020, it has made several investments: Cargounit, the largest locomotive rental company in Poland, Enery, a renewable energy company with operations in Central and Eastern Europe; Greenergy, a data center platform and BMF Port Burgas, a major port operator in Bulgaria.

“We welcome the EBRD’s investment alongside 3SIIF. R.Power has demonstrated its ability to successfully develop and operate significant solar power generation assets with nearly 200 MWp having COD since the time of our investment. It continues to grow its development portfolio and is active in bringing battery storage opportunities to the portfolio,” said Joe Philipsz, Head of 3SIIF at Amber Infrastructure.

“We are delighted to partner with R.Power and support its growth path. Fast-growing renewable energy developers like R.Power are an essential part of the energy transition and the acceleration of renewable energy sources in Poland and the region. We look forward to supporting the company in becoming one of the most important regional players in renewable energy,” added Grzegorz Zielinski, Head of Energy for Europe, EBRD.