EBRD and R.Power join forces to invest 75 million euros in the growth of renewable energy in Poland. The European Bank for Reconstruction and Development(EBRD) supports the development of green energy generation. It has committed to invest in a capital increase aimed at expanding the company’s activities.
Second EBRD investment
This is EBRD’s second investment in R.Power, following its participation in the company’s 2022 green bond issue. R.Power is one of Poland’s fastest-growing privately-owned renewable energy developers.
Co-investment with 3SIIF
EBRD invests alongside the Three Seas Initiative Investment Fund (3SIIF). It is a commercial fund dedicated to infrastructure investments in Central and Eastern Europe (CEEC). This is EBRD’s first co-investment with 3SIIF.
Support for the Growth Strategy
The combined capital increase provided by EBRD and 3SIIF will support R.Power’s long-term growth strategy. One example is its plan to achieve a portfolio of 1 GWp of solar photovoltaic panels in operation in the EU over the next two years, thus making significant savings in greenhouse gas emissions.
Improving Environmental Practices
EBRD will work with R.Power to strengthen its environmental, social and corporate governance practices, with a particular focus on managing supply chain risks and related issues. The transaction is subject to regulatory approvals.
Importance of Renewable Energy
EBRD’s support comes at a time when fundraising is becoming increasingly difficult. At the same time, the need to accelerate the development of renewable energy is greater than ever. Not to mention increasing geopolitical uncertainty and global concerns about energy security.
Distributed renewable energy is recognized as the solution for achieving global carbon neutrality goals. What’s more, it guarantees a secure and affordable energy supply.
Manager’s comments
Grzegorz Zielinski, EBRD’s Head of Energy Europe, said: “We are delighted to partner with R.Power and support its growth journey. High-growth renewable energy developers like R.Power are essential to the energy transition and to accelerating the development of renewable energy in Poland and the region. We look forward to supporting the company in becoming one of the largest regional players in renewable energy.”
Przemek Pięta, co-founder and CEO of R.Power, said, “EBRD’s substantial capital investment in R.Power is a strong vote of confidence in our mission and in R.Power’s abilities to become a major independent power producer in Europe. This investment will reinforce our financial strength and enable faster deployment of renewable energy in our region.”
Joe Philipsz, Head of 3SIIF at Amber Infrastructure Group, said: “We welcome EBRD’s investment alongside 3SIIF. R.Power has a proven track record of successfully developing and operating substantial solar power generation facilities, with nearly 200 MWp having reached commercial operation since our investment. The company continues to grow its portfolio of development projects and is active in integrating battery storage opportunities into the portfolio.”
Infrastructure investment
The 3SIIF invests in energy, transport and digital infrastructure in 12 EU member states in Central and Eastern Europe bordering the Baltic, Adriatic and Black Seas (Three Seas region). Similarly, demand for long-term commercial investment in national infrastructure is one of the highest in the EU.
About Amber Infrastructure Group
Amber Infrastructure Group (Amber) is the exclusive investment advisor to 3SIIF. He is also responsible for origination, asset management and capital-raising services. With around €5 billion in assets under management, Amber invests in eight funds and several managed accounts. Amber’s core business focuses on the research, development, consulting, investment and management of infrastructure assets in the public infrastructure, transportation, energy, digital and demographic sectors, which support the lives of people, homes and businesses worldwide.
