€150 mln From Three Seas Investment Fund Strengthening R.Power

The renewable energy sector in Europe is fast-paced, filled with high-stakes ventures and potentially game-changing technologies. EUR 150 mln from the 3SIIF will ensure R.Power establishes itself as a leading player in the European renewable energy market.

Team of two engineers installing solar panels on roof.
Photo: iStock.com / ArtistGNDphotography

The Three Seas Initiative Investment Fund (3SIIF) is a dedicated commercial fund that channels investments into infrastructure projects within Central and Eastern Europe. The fund places a keen focus on sectors such as energy, transport, and digital infrastructure. With a significant contribution now being made to R.Power, the fund’s influence on the EU energy landscape is set to grow.

Making solar strides

Polish company R.Power has established a firm foothold in the European renewable energy sector. Having recently secured an investment of €150 million from the Three Seas Initiative Investment Fund (3SIIF), it is now poised to make significant strides in solar power production. The funding will support the company’s ambitious target of achieving a 1GWp operating solar portfolio across EU markets within two years, bolstering its long-term growth strategy.

As an already promising independent power producer (IPP) operating primarily in solar PV and battery storage, R.Power has positioned itself at the forefront of renewable energy in Europe. Its operations span several countries, including Poland, Romania, Germany, Italy, Spain, and Portugal. The recent investment is expected to fuel the company’s expansion, leveraging its proven track record in renewables to achieve an even stronger footprint in these European markets.

In the wake of the investment, R.Power’s founding shareholders will maintain a majority stake and continue to lead the company. Notably, 3SIIF retains an option to augment its investment to a total of EUR 250 million. This prospect not only cements R.Power’s growing stature in the European renewables sector but also demonstrates the investors’ faith in its potential.

A comprehensive and effective solution for green needs

The funds raised from 3SIIF will also bolster R.Power’s subsidiaries, Quanta Energy and Nomad Electric, focusing on commercial and industrial solar PV and EPC operations and maintenance, respectively. The company’s integrated approach encapsulates the entire value chain of renewable energy, ensuring a comprehensive and effective solution to the continent’s green energy needs.

CEO of R.Power, Przemek Pięta, expressed delight at welcoming 3SIIF and Amber Infrastructure as contributors to their international expansion. The investment, he stated, “validates R.Power’s track record in renewables and will play a significant role in our strategy to become a leading European renewable energy IPP and contribute actively to the EU energy independence.”

At the same time, Tomasz Sęk, the COO of R.Power, echoed these sentiments, emphasizing that the investment marked a significant milestone in their strategy to expand renewable energy across Europe. With an international pipeline already exceeding 2GWp in development and over 50 employees outside Poland, R.Power is poised for growth and excited about the partnership with 3SIIF to amplify its footprint and capabilities.

More than just funding, it’s a ringing endorsement

Maciej Tarasiuk, Senior Investment Director at Amber Infrastructure, highlighted R.Power’s pioneering role in decarbonizing the Polish energy system through solar energy development. As the exclusive investment adviser to 3SIIF, he expressed enthusiasm about joining R.Power in their quest towards decarbonized energy production in the Central and Eastern Europe region and beyond. For R.Power, this partnership is not just a financial windfall but also an endorsement of its contribution to the EU’s energy independence. As the company continues to excel in developing, constructing, and managing photovoltaic farms, the additional funding will allow it to further capitalize on these strengths.

The investment made by 3SIIF in R.Power signals a significant step toward Europe’s renewable energy future. The funding enables R.Power to accelerate its growth and further solidify its place as a key player in Europe’s energy sector. As the continent moves towards energy independence, it’s clear that R.Power will play a crucial role in this journey, and with the strong backing of 3SIIF, the company’s 1GWp goal is well within reach.

Jakub Warzecha

Creative copywriter, archaeologist. Interested in history, technology and military matters. Specializes in marketing communications and application architecture design.

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