Amber Infrastructure’s Three Seas Initiative Investment Fund (3SIIF), an investment vehicle designed to finance key infrastructure projects in the Three Seas region, will take a minority stake in R Power through an equity investment of €150 million ($162 million).
R Power is operating and constructing more than 500 megawatts of utility-scale solar PV plants in Poland and Portugal.
3SIIF’s investment will support the company’s long-term growth strategy, with a plan to achieve a 1-gigawatt operating solar portfolio within two years across E.U. markets, according to renews.Biz. The fund retains an option to increase its investment to a total of €250 million ($270 million).
After the investment, the founding shareholders of R Power will retain a majority stake in the company.
“We are delighted to have 3SIIF and Amber Infrastructure join us in expanding our international business,” said Przemek Pięta, co-founder and CEO of R Power. “T