51 MW of Romanian Solar Power Secured by INVL Fund
- INVL Renewable Energy Fund I secures EUR 25 million loan from Kommunalkredit Austria AG to back 451 MW of solar parks in Romania and Poland. Construction set to be completed by end of 2025.
INVL Renewable Energy Fund I, managed by Lithuania’s INVL Asset Management, has secured a EUR 25 million loan from infrastructure lender Kommunalkredit Austria AG to back the construction of 51 MW of solar parks in Romania. The agreement will finance projects of the fund's Romanian portfolio, which includes eight schemes with a combined capacity of 451 MW. INVL is also preparing for the start of construction of its Polish portfolio, which comprises over 32 MW of solar PV projects, with overall investment estimated at over EUR 330 million. All solar parks are expected to become operational by the end of 2025. In September, the fund raised EUR 4.5 million from a public bond sale in Lithuania to finance the construction of its European solar projects.
What Loan is Financing INVL's Solar Projects in Europe?
- The loan from Kommunalkredit Austria AG secured by INVL Renewable Energy Fund I totals EUR 25 million.
- This loan will finance INVL’s solar projects in Romania, which have a combined capacity of 451 MW.
- INVL is also preparing for the start of construction of its Polish portfolio, which comprises over 32 MW of solar PV projects.
- The overall investment for INVL’s solar projects in Europe is estimated to be over EUR 330 million.
- All solar parks are expected to become operational by the end of 2025.
- In September, the fund raised EUR 4.5 million from a public bond sale in Lithuania to finance the construction of its European solar projects.