Polish Development Fund invests in PLN 120m of R.Power green bonds

September 9 (Financial Eye) – Polish solar project developer and power producer R.Power SA has issued PLN 120 million (USD 25.5m/EUR 25.4m) of green bonds to a fund managed by the Polish Development Fund (PFR), the company said on Thursday.

The deal with PFR Closed-end Investment Fund of Non-Public Assets (FIZAN), part of whose investment portfolio is managed by PFR, comes shortly after a PLN-80-million green bond issue to EBRD.

The combined proceeds will be used to support the development of R.Power’s portfolio in Poland. The solar developer has so far issued PLN 450 million under its green bond issuance programme of up to PLN 1 billion.

“The investment in R.Power’s green bonds will allow to maintain the growth momentum of one of the most rapidly growing Polish companies in the area of renewable energy sources,” said PFR vice president Bartlomiej Pawlak.

R.Power says it is currently developing a portfolio of over 7 GWp and is also stepping up development in Spain, Portugal, Italy, Germany and Romania.

(PLN 1=USD 0.212/EUR 0.212)

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