R.Power boosts equity by EUR 25m after milestones

Polish solar power producer R.Power SA said today it has boosted its equity with EUR 25 million (USD 27m), as part of a EUR-100-million investment that was previously committed by the European Bank for Reconstruction and Development (EBRD) and the Three Seas Initiative Investment Fund (3SIIF).

The additional capital is the first tranche of the October 2023 investment and has been obtained following the achievement of agreed construction and development milestones. R.Power said the funding will bolster its financial position and support its international expansion plans.

The EUR-25-million equity increase has not significantly changed R.Power’s shareholding structure.

R.Power is expanding its activities in Romania, Italy, Portugal, Spain and Germany. The company says it is currently developing over 26 GWp of photovoltaic and battery energy storage projects.

(EUR 1 = USD 1.081)

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