Norton Rose Fulbright advises banks on financing for R.Power's PV installations in Poland

Global law firm Norton Rose Fulbright advised the club of Polish banks comprising BNP Paribas Bank Polska S.A. and Santander Bank Polska S.A. in relation to the PLN 242 million (EUR 52.8 million) financing for R. Power. The funds will be used for the construction of seven PV installations with a total capacity of 91 MWp.

The complex transaction was based on the project finance formula relying on the Polish support scheme for PV energy installations.

The Warsaw team was led by senior associate Daniel Popek and included counsel Marta Kawecka, associate Oskar Sula and lawyer Karolina Lepakiewicz. The team worked under the supervision of partner Grzegorz Dyczkowski who heads the Warsaw office and the firm’s Warsaw banking and finance practice.

R.Power is the largest company in the photovoltaic sector in Poland, where it is developing a portfolio of solar farms with a capacity of over 4 GWp. In the last two years alone, the company commercialised and built or commenced construction of nearly 320 MWp of PV projects. The developer has projects in various European countries, including Italy, Spain and Portugal. R.Power operates in the entire value chain on the PV market – it develops plant projects, builds plants, provides professional management, service and maintenance (O&M) services for solar farms, and produces energy from photovoltaic power plants.