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

Global law firm Norton Rose Fulbright has advised a consortium of Polish banks comprising BNP Paribas Bank Polska S.A. and mBank S.A. in relation to a PLN 321 million (EUR 69 million) financing for R.Power. The funds will be used for the construction of PV installations with a total capacity of 139 MWp.

The financing covers auxiliary funding, including VAT on investment costs and a guarantee line to secure the obligations arising from the PPA agreements.

The Warsaw-based Norton Rose Fulbright team advising on the financing aspects of the transaction was led by counsel Marta Kawecka and included associate Karolina Majcher and lawyers Dominika Wojtkowska, Wiktoria Jadczak and Natalia Rybak.

The due diligence workstream was led by senior associate Cezary Zawiślak and included associates Paula Stępień and Martyna Orłowska, as well as lawyers Bartosz Odziemkowski, Nina Strzelczyk and Mikołaj Wołczyński.

The entire team worked under the supervision of partners Grzegorz Dyczkowski, head of the Warsaw office and the firm's banking and finance practice, and Tomasz Rogalski, head of the firm's energy and infrastructure.

Advice on Dutch law was provided by partner Joris Ravelii and associate Frances Hoogenberg.

R.Power is a leading independent developer and operator of photovoltaic projects in Poland, also active in Romania, Italy, Portugal, Spain, and Germany. The scope of R.Power's operations covers the entire value chain of the solar energy sector, including the development of photovoltaic power plants, construction (Engineering, Procurement & Construction), power plant maintenance (Operations & Maintenance), and renewable energy production (Independent Power Producer). Currently, the company is developing a portfolio of over 26 GWp of PV and BESS (Battery Energy Storage System) assets, offering energy sales through Power Purchase Agreements (PPA). In addition to photovoltaic farms, R.Power, through its subsidiary Quanta Energy, provides a wide range of renewable energy solutions for industrial clients, businesses, and institutions-from energy audits and technical and legal analysis to permitting, financing, and construction of the investment.