INVL Renewable Energy Fund I acquires Romanian solar projects

Sep 23, 2022 12:49 PM ET
  • The new acquisition brings the fund's Romanian solar portfolio to over 250MW
INVL Renewable Energy Fund I acquires Romanian solar projects

The INVL Renewable Energy Fund I has authorized 2 arrangements to acquire six Romanian solar projects with a complete capacity of 102.7 MW.

The new power plants will start business operations in 2024 whilst commissioning of the full portfolio is expected in the second fifty percent of 2025.

Additionally, the solar projects are at a sophisticated phase of advancement, with grid-connection conditions already approved and also construction authorizations for some of the projects given. Construction deal with the growth portfolio is set to start gradually from the first quarter of 2023.

Furthermore, all the solar projects within the fund's present portfolio have actually already protected approved grid connection terms.

This will bring the volume of the fund's portfolio of Romanian projects approximately 268.7 MW. The fund's overall investment right into Romania will certainly now surpass 200 million euros.

Managing Partner of the INVL Renewable Energy Fund I Liudas Liutkevicius commented: "The appeal of the Romanian market is proliferating. We continue to witness the sustained growth of passion from international capitalists for the country's renewable energy market.

" The fund's investments in lasting energy projects are currently at a considerable level and also we remain to proactively look for new procurement targets out there. The fund's solar projects in Romania are nearing the begin of construction which consequently opens up additionally chances for regional task in areas of construction and equipment supply.

" Growing the fund's project portfolio also presents a series of appealing chances for possible investors to sign up with the fund as well as release available resources for positive ecological influence investment activity and also to produce attractive returns."

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