International law firm Clifford Chance advised mBank on the issue of two series of green bonds with a total nominal value of PLN 75 million by R.Power. The bonds were taken up by Bank Gospodarstwa Krajowego and mBank. The funds raised will be used to develop a portfolio of projects in Poland and abroad.
The issued bonds meet the criteria for the issue of green bonds in accordance with the Green Bond Principles (GBP) developed by the International Capital Market Associacion (ICMA), primarily in terms of allocating the funds from the issue to finance investments that have a positive impact on the environment by taking into account environmental and ecological aspects in their implementation, and thus supporting sustainable development.
R.Power Group is the largest group in the photovoltaic sector in Poland. The company is also developing projects in other European countries, including Italy, Spain, Portugal, and Romania.
As part of the current green bond issuance programme, R.Power raised a total of PLN 250 million – Clifford Chance advised on all previous issues under the programme.
The team advising on the transaction included: Miłosz Gołąb (Partner), Aleksandra Rudzińska (Senior Associate), Zuzanna Bartczak (Associate), and Krzysztof Burda.