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    July 29, 2022 - States News Service


      The following information was released by the European Bank for Reconstruction and Development (EBRD):

      By Vanora Bennett

      29 Jul 2022

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      EBRD invests PLN 80 million ( 17 million) in R.Power green bonds in Poland

      Transaction supports roll-out of solar PV projects in Poland

      Transaction will also support R.Powers growth, local capital markets development

      The EBRD is investing PLN 80 million ( 17 million equivalent) in green bonds issued by R.Power S.A., a vertically integrated solar PV developer and independent power producer incorporated in Poland.

      The EBRD support comes at a time when raising capital is increasingly difficult and the need to accelerate the development of renewable energy is greater than ever, due to the war on Ukraine and global energy security concerns. It will be the EBRDs first bond investment into a renewable developer at holding company level in Poland, supplementing traditional project financing at the asset level.

      The transaction supports a faster roll-out of solar PV projects in Poland, as well as the companys ambitions to become a fully integrated regional player in the renewables market and the development of local capital markets. This EBRD funding will ensure that an additional 96 MW of solar PV achieves financial close and starts implementation in 2022. This translates into 100 GWh of electricity annually, contributing to 72 thousand tonnes of carbon dioxide savings a year.

      The drive towards net zero carbon emissions by 2050 is a dominant theme in the European energy sector. Decarbonisation goals imply increasing electrification of economies and industry, which require massive investment in renewables in the coming decade.

      In the past year, energy prices have increased dramatically, driven both by short supply of hydrocarbons and increased electricity demand and, since February, by the war on Ukraine. The focus is turning to renewables not only to achieve the net zero target, but to provide an immediate solution to the growing energy security crisis. Solar will play a critical role in this transition.

      Promoting the low carbon economy is a central focus of the EBRDs work in Poland, along with enhancing the private sectors role in the economy and assisting in the development of a sustainable financial sector and capital markets. To date, the EBRD has invested 3.44 billion in 476 projects in Poland.


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