American tech conglomerate Cisco is tapping solar energy to lower costs and cut greenhouse gas emissions. The firm has locked down a 15-year financial arrangement with R. Power that bankrolls 470 gigawatt hours of fresh solar capacity without physically receiving the electricity. R.Power’s virtual power purchase agreement (VPPA) establishes fixed pricing while developers sell actual power into Poland’s grid. Cisco will receive payments when market rates surpass the contracted price, but will have to cover shortfalls when prices dip below market rates.
This mechanism will finance four new solar installations while providing insurance against unpredictable energy markets and provide the additional clean capacity that Poland desperately needs. Poland currently operates one of Europe’s most carbon-intensive electrical systems and is still substantially dependent on coal combustion for generation.
Expected to begin operations in 2027, the new installations will be located at Bieżyce, Nowy Zagór III, Wydartowo, and Ostrzeniewo III. Each megawatt of renewable power deployed there would deliver magnified benefits for reducing emissions in Poland and across the European continent.
Financial backing for its recent collaboration with Cisco will come from the European Bank for Reconstruction and Development alongside private equity investors and credit facilities from BNP Paribas and ING. SR Inc.’s Net Zero Consortium for Buyers facilitated the arrangement, linking business demand with development possibilities.
Central Europe has become the continent’s most rapidly expanding solar territory in recent years. Visegrad countries multiplied their solar generation six times from 2019 through 2024, surpassing growth rates nearly everywhere else across the EU. That acceleration keeps drawing significant corporate purchasers seeking renewable energy transactions in markets offering substantial expansion potential. R.Power brings serious scale to this collaboration.
The Warsaw-headquartered developer runs or constructs 1.4 gigawatts of renewable capacity with another 10 gigawatts of battery storage initiatives spanning six European territories. Renewable Energy and Utilities Manager Evan Scott Brown says the deal with R. Power advances Cisco’s effort toward building more durable energy infrastructure.
It directly supports their intended Krakow laboratory growth while financing renewable power rollout throughout the area. SR Inc. CEO Jim Boyle stresses how essential large enterprise buyers have become for driving regional renewable energy expansion.
The transaction shows how buyers can generate results through varied renewable energy financing, he notes. R.Power Chief Commercial Officer Rafał Hajduk says the company’s commitment strengthens their standing as Central Europe’s leading multi-technology renewable generator. Long-term business agreements directly finance fresh solar deployments and will help speed the region’s shift away from conventional generation, he explains.
As entities like Cisco help in accelerating the penetration of renewables like solar, other firms like Vision Marine Technologies Inc. (NASDAQ: VMAR) are also doing the same in other verticals like marine transport.
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