R.Power Secures PLN 321 Million Financing for Polish PV Expansion
Deal News | Jan 29, 2025 | CEE Legal Matters
Norton Rose Fulbright, a prominent law firm, has successfully provided its advisory services to a consortium of Polish banks, including BNP Paribas Bank Polska and mBank, on a substantial financing deal amounting to PLN 321 million (approximately EUR 69 million) for R.Power, a major independent photovoltaic developer and operator. The financing aims to fund photovoltaic projects in Poland with a combined capacity of 139 megawatt-peak, signaling a significant step in advancing sustainable energy initiatives in the country. The arrangement, which Baker McKenzie reportedly advised from R.Power's side, also includes provisions for VAT coverage on investment costs and guarantees to secure the Power Purchase Agreement (PPA) obligations. The transaction underscores Poland's growing renewable energy infrastructure, supported by international legal expertise.
Sectors
- Renewable Energy
- Financial Services
- Legal Services
Geography
- Poland – The article focuses on photovoltaic projects in Poland, with Polish banks and legal teams being key players in the financing arrangement.
- Europe – R.Power operates in multiple European countries, indicating a broader geographical impact beyond Poland, including operations in Romania, Italy, Portugal, Spain, and Germany.
Industry
- Renewable Energy – The article primarily revolves around R.Power securing financing for photovoltaic installations, representing a significant segment of the renewable energy industry.
- Financial Services – The involvement of Polish banks such as BNP Paribas Bank Polska and mBank in providing the financing facility highlights the financial services sector's role in enabling renewable energy projects.
- Legal Services – The advisory role of law firms Norton Rose Fulbright and Baker McKenzie in structuring and facilitating the financing deal indicates the article's relevance to the legal services industry.
Financials
- PLN 321 million – Total financing facility provided to R.Power for developing photovoltaic projects in Poland.
- EUR 69 million – Approximate equivalent of the PLN 321 million financing facility in euros.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| R.Power | Target Company | Company | R.Power is an independent photovoltaic developer and operator involved in the financing arrangement for solar projects in Poland. |
| Norton Rose Fulbright | Legal Advisor | Company | Norton Rose Fulbright advised on the financing arrangement with Polish banks for R.Power's photovoltaic projects. |
| BNP Paribas Bank Polska | Financial Lender | Company | Part of the consortium of banks providing the financing facility to R.Power for their PV installations. |
| mBank | Financial Lender | Company | One of the Polish banks in the consortium providing financing for R.Power's solar projects. |
| Baker McKenzie | Legal Advisor | Company | Reportedly advised R.Power in the financing deal for photovoltaic projects. |