Eiffel Investment Group and R.Power Investment B.V., a whollyowned subsidiary of R.Power SA – a vertically integrated international solar photovoltaic power plants developer and independent power producer based in Poland – have entered into a loan agreement up to the amount of EUR 30 million (with an option to increase the loan amount to EUR 40 million) for a period of up to 18 months. The loan was granted from bridge financing funds managed by the French investor Eiffel Investment Group.
The loan will allow R. Power Group to finance further dynamic growth in foreign markets. The funds raised will be used to finance the construction of photovoltaic parks in EU countries such as Portugal, Italy and Poland. In addition, they will help build the company's position as a fully integrated regional player in the renewable energy market.
“In a few years we would like to be at the top of independent energy producers in Europe. The financing agreement with Eiffel Investment Group is another big step in our international development. Importantly, this is the first financing of the R. Power Group in euros and, thanks to the natural hedging, allows us to reduce the exchange rate risk.” says Przemek Pięta, CEO of R.Power Group.
Pierre-Antoine Machelon, Head of Infrastructure at Eiffel Investment Group, commented, "We are very happy to support R.Power Group's acceleration and development by financing its renewable energy projects in Poland and other European geographies. Providing financing for renewable energy projects in these European markets is key to making the energy transition seamless across Europe."
About R.Power Group
Power S.A. is a leading independent integrated solar power producer in Poland, with a growing presence in Italy, Romania, Portugal, Spain and Germany. The company's activities cover the entire solar energy value chain, including the development of photovoltaic plants, the construction of photovoltaic power plants (EPC Engineering Procurement & Construction), power plant servicing (Operations & Maintenance) and green power generation (Independent Power Producer). Currently, R.Power S.A. develops a portfolio of almost 8 GWp of photovoltaic plants and has a de-risked photovoltaic portfolio of about 0.8 GWp.
About Eiffel Investment Group
Eiffel Investment Group is an asset manager with more than EUR 4.5 billion of assets under management. Its clients are large institutional investors (insurance companies, mutuals, pension funds, banks, etc.). Backed by the Impala Group, founded by entrepreneur Jacques Veyrat, Eiffel Investment Group finances companies and their assets through four main strategies: private debt, private equity, infrastructure for energy transition, listed equities and credit. The group's mission is to invest for a sustainable world. Its investment strategies aim to generate not only strong financial performance, but also positive and measurable social and environmental impacts. The Eiffel Investment Group team has around 80 employees, mainly in France (Paris), but also in BeNeLux (Amsterdam), Warsaw (Poland) and the United States (New York).