The funds will be allocated to the development of a portfolio of photovoltaic power plants in Portugal with a total capacity of 68 MWp. CaixaBank and Banco BPI acted as Mandated Lead Arrangers. CaixaBank was also Green Loan Coordinator and Banco BPI, Agent bank.
The financing agreement includes refinancing of already constructed assets and funding for the construction of eight large-scale photovoltaic power plants. The financing is secured by a long-term Power Purchase Agreement (PPA) with a leading European energy group. The PPA spans from 2025 to 2034, with an estimated 552 GWh of electricity to be delivered during this period.
"This is a significant milestone in the growth of R.Power. Our first international project finance agreement confirms our credibility in the European renewable energy market. We are pleased that CaixaBank and Banco BPI have entrusted us as partners in implementing photovoltaic projects in Portugal. The financing, backed by a long-term PPA, further demonstrates the robustness of our business," emphasized Przemek Pięta, co-founder and CEO of R.Power.
