R Power Enters German Solar Market
Polish solar developer R Power has entered the Germany solar market having signed a cooperation agreement with an undisclosed developer for 80MW of projects.
The photovoltaic projects are located in various regions of the country.
R Power has already secured funds for the acquisition of the projects.
At the beginning of June it established a programme to issue green bonds with a total nominal value of up to €225m, which have to meet the criteria for green bonds according to the Green Bond Principles (GBP) developed by the International Capital Market Association (ICMA).
Bonds with a total nominal value of €34m were issued under the first series and some of them will be used for the company’s development in Germany.
R Power CEO and co-founder Przemek Pieta said: “We plan to consistently strengthen our position in Europe.
“In order to become one of the largest photovoltaic companies on our continent, we need to expand into more countries.
“Germany, as a key market in the region, is the next step for us. We want to commission pro-jects of a capacity of at least 100 MWp here annually.
"In the near future, we plan to sign further agreements with German developers, as well as independently search for land for future PV farms.“
R Power is developing a portfolio of PV farms with a capacity of over 4GW in Germany.