The European Bank of Reconstruction and Development (EBRD) has invested €17m in green bonds issued by Polish solar developer R Power. It is the lender’s first bond investment into a renewable developer at holding company level in Poland, supplementing traditional project financing at the asset level. The transaction will support an additional 96MW of solar PV to achieve financial close and start implementation in 2022, EBRD said. It added in a statement: “The EBRD support comes at a time when raising capital is increasingly difficult and the need to accelerate the development of renewable energy is greater than ever, due to the war on Ukraine and global energy security concerns. “The transaction supports a faster roll-out of solar PV projects in Poland, as well as the company’s ambitions to become a fully integrated regional player in the renewables market and the development of local capital markets.” To date, the EBRD has invested €3.44bn into 476 projects across Poland.
Credits: renews.biz[Image: R.Power/EBRD]