With a $150 million equity investment in R Power, the Three Seas Initiative Investment Fund will acquire a minority interest in the business.
The R Power founders will continue to run the business and keep a majority ownership, and the fund has the option to extend its investment to a total of €250 million.
The investment from the fund will help the company reach its goal of building a 1GWp functioning solar portfolio across EU markets within the next two years.In Poland and Portugal, the firm is currently building and running utility-scale solar PV projects with a combined capacity of more than 500MWp.
Co-Founder and CEO of R Power, Przemek Pięta, said “We are delighted to have 3SIIF and Amber Infrastructure join us in expanding our international business. This investment validates R Power’s track-record in renewables and will play a significant role in our strategy to become a leading European renewable energy IPP and contribute actively to the EU energy independence.”
“The raised funds will help us accelerate growth of the company in Poland as well as other markets such as Romania, Germany, Italy, Spain and Portugal.”
Senior Investment Director at Amber Infrastructure, Maciej Tarasiuk, noted “R Power has been a pioneer in supporting decarbonisation of the Polish energy system through development of solar energy. Over the last decade, a strong and dedicated team has continued to excel in development, construction and management of photovoltaic farms.”
“As the exclusive investment adviser to 3SIIF, we are delighted to join the R Power team on the journey towards decarbonised energy production in the CEE region and wider Europe. 3SIIF fully supports R Power’s ambitious development plan that will strengthen its position as a leading international IPP across photovoltaic and ancillary technologies.”
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