Three Seas Initiative to invest EUR-150m equity in Poland's R.Power

Luxembourg-based infrastructure investor Three Seas Initiative Investment Fund SA SICAV-RAIF (3SIIF) will invest EUR 150 million (USD 160.4m) in equity and take a minority stake in Polish solar energy producer and developer R.Power.

The Polish group announced the news on Friday, saying that the fund’s investment would enable it to follow its long-term strategy to reach 1 GWp of operational solar capacity across the EU markets in the next two years. At present, R.Power has over 500 MWp of utility-scale solar in operation and under construction in Poland and Portugal, and an international pipeline of over 2 GWp, according to the group’s co-founder Tomasz Sek.

The size of the 3SIIF’s stake was not revealed. R.Power said that the fund has the option to increase its investment to EUR 250 million in total.

R.Power will remain in control of the business and continue investing in its majority-owned commercial and industrial solar unit Quanta Energy and the EPC operations under the Nomad Electric brand.

The transaction is subject to regulatory approval.

3SIIF invests in energy, transport and digital infrastructure in the Central European EU member states bordering the Baltic, Adriatic and the Black Sea. UK-based investment manager Amber Infrastructure Group is the fund’s exclusive investment adviser.

(EUR 1.0 = USD 1.07)

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