RPower BESS Bond (IFC-50706)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Poland
Geographic location where the impacts of the investment may be experienced.
Specific Location
Jedwabno, Tursko Wielkie, Gdansk
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 10, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
R.Power S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 34.31 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 30
Converted using 2025-06-10 exchange rate.
Loan Amount (USD)
$ 34.31 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 30
Converted using 2025-06-10 exchange rate.
Project Cost (USD)
$ 268.73 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 1000
Converted using 2025-06-10 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 2, 2025

Disclosed by Bank Jun 26, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the IFC, R.Power S.A. is currently seeks an issuance of EUR 50 million 5-year bonds tranche as part of its 1 billion PLN (EUR 235 million) green bond programme, to fund the construction of three standalone Battery Energy Storage Systems (BESS) projects in Poland, with a combined capacity of 650 MW.

The proposed investment is an IFC’s own account subscription of up to EUR 30 million into a new EUR denominated tranche of a 5-year green bonds to be issued by R Power S.A in Poland as part of the established 1 billion PLN (ca. EUR 235 million) Green Bond Programme (“Project”). An additional subscription of up to EUR 20 million from a third-party co-investor is anticipated.
The green bond’s proceeds are expected to be used to fund the construction of three Battery Energy Storage Systems (BESS) projects in Poland with a combined capacity of approximately 650 MW, making it one of the largest BESS portfolios in the country.

The project will allow the dispatch of valuable Renewable Energy (RE) accumulated during peak solar production hours to satisfy the demand at other times of the day. BESS 1 (Jedwabno) will have a capacity of 150 MWp, while BESS 2 (Tursko Wielkie) and BESS 3 (Gdansk II) will each have a capacity of 250 MWp.

The total land areas leased for each project range from approximately 1.9 to 4.5 hectares. The land requirement for BESS infrastructure varies from 1.5 to 3.6 hectares. The BESS will need to connect to the National Power System using high-voltage underground cables. The specific location and details of the connection will be determined during the network connection and building permit stages.

The routes are estimated to require connection lengths from approximately 9.4 to 11 km. The company will need to obtain land use rights for the transmission lines. At the time of IFC’s appraisal, construction on all three plots has not yet started, and construction of BESS 1 is expected to begin by the end of 2025. Construction activities are expected to be completed within 18-32 months from the start, achieving completion in H1 2027 (BESS 1), H2 2028 (BESS 2) and H1 2029 (BESS3).                                                  

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, R.Power S.A. is an Independent Power Producer (IPP) focused on utility scale renewable energy projects in Poland (80%+ of its portfolio), Romania and selected EU markets. As of mid-May 2025, it had almost 650 MWp of PV capacity in operations or ready to connect, and around 370 MWp of PV projects under construction. R.Power total grid secured portfolio amounts to 10 GW, including 7.4 GWp PV projects and 2.6 GW BESS projects. R.Power is headquartered in Warsaw, Poland, with 550+ employees and 12 offices across 7 countries in Europe.

Private shareholders own 70.7% of the Company. Minority institutional investor – 3S Ra Holdings S. à r.l. – owns 29.3% of the company shares. 3S Ra Holdings S. à r.l. is a company owned by the Three Seas Initiative Investment Fund S.A. SICAV-RAIF (70%) and European Bank for Reconstruction and Development (30%).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Three Seas Initiative Investment Fund S.A. SICAV-RAIF Investor Finance invests in R.Power S.A. Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

Client - R.Power S.A.:

Tomasz Sciesiek - Director for Equity and Debt Origination
Phone: +48 660 711 772
Email: tomasz.sciesiek@rpower.solar
Address: 02-566, Warsaw Poland
Website: https://rpower.solar/en/ 

Local Access for Project Documentation:

Pulawska 2, Plac Unii, Building C
02-566, Warsaw Poland

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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