In the last twelve months, R.Power has obtained funds for PV farm projects in the amount of PLN 530 million, the company announced. In total, R.Power will build a portfolio of solar farms with a total capacity of 183 MW under secured financing. The power plants will contribute to reduction in carbon dioxide (CO2) emissions by over 170,000 tonnes. That is about as many as 90 thousand passenger cars a year.
15-year differential contracts
All power plants have won RES auctions and will sign 15-year differential contracts providing them with a guaranteed level of electricity sales prices. In the recent years, R.Power has won solar auctions for the total installed capacity of almost 300 MW. The banks financing the construction of R.Power solar farms are mBank (PLN 355 million / app. EUR 78 million) and Santander Bank (PLN 175 million / app. EUR 38 million).
2.7 GW solar PV installed by 1 October
According to PSE’s (Polish Transmission System Operator) data, as of 1 October 2020 the total installed photovoltaic capacity in Poland was 2.7 GW. For 5 years, Poland has had a system of support for RES projects, the auction system. Under the auctions carried out between 2016 ‒ 2019, the support was provided to more than 2000 projects. The total value of energy covered by the winning bids was over PLN 38 billion. As a result of the auctions, in total almost 154 TWh of energy was sold.
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R.Power: Portfolio of PV power plants of more than 2 GW
“Large-scale photovoltaics is becoming an increasingly popular and cheaper source of energy in Europe. As R.Power, we want to a part of this. We are developing dynamically, implementing projects not only on the domestic market, but also in Italy and Portugal. We aspire to expand our business to at least 10 foreign markets in the next few years”, says Przemek Pięta, co-founder and CEO of R.Power.
In Poland alone, R.Power is developing a portfolio of PV power plants of over 2 GW. R.Power operates in the entire value chain on the PV market, developing solar projects, as well as providing management, operation and maintenance (O&M) services for solar farms. (hcn)
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