Polish Independent power producer (IPP) R.Power has formed a joint venture with French asset manager Eiffel Investment Group to develop more than 1GWp solar PV projects in Romania.
Both companies will invest up to €26.5 million (US$29.3 million) after forming the joint venture. R.Power will bring a portfolio of more than 50 solar PV projects at various stages of development, while Eiffel Investment Group will finance the development of the portfolio.
“This third transaction for the Eiffel Transition Infrastructure fund will accelerate the deployment of additional renewable energy capacity in Romania by bringing much-needed equity in the development phase of the projects and leveraging R.Power’s strong experience of PV development,” said Pierre-Antoine Machelon, head of infrastructure at Eiffel Investment Group.
Przemysław Pięta, CEO of R.Power added that both companies had embarked on a journey to develop 1GWp of PV projects in the Romanian market, while the collaboration aligns with a mission to drive the global energy transition.
Apart from this joint venture, Eiffel Investment Group partnered with Lithuanian renewables developer Green Genius to develop and finance a 500MW solar PV portfolio in Italy. Eiffel will make an initial investment of up to €15 million in the projects, which will be predominantly located in the south of the country, in Puglia and the island of Sardinia.
