INVL-run fund grows Romanian portfolio with 174-MW solar purchase

• A renewable energy fund run by Lithuania's INVL Asset Management has actually struck a deal to acquire a 174-MW solar project in Romania, expecting to go into construction towards the end of following year.

The asset manager stated on Monday that INVL Renewable Energy Fund I's purchase will boost the fund's total financial investments in the Romanian market to about EUR 350 million (USD 339.7 m).

The most recent acquisition worries a photovoltaic (PV) project at an undefined area, which is prepared for to get a grid-connection license in the very first quarter of 2023 and enter construction in the shutting quarter of the exact same year.

The purchase will broaden INVL Renewable Energy Fund I's capacity under development in Romania to 442.7 MW. The complete includes eight solar projects, of which 268 MW have grid connection problems and also 42.7 MW with building approvals. The fund expects structure works for the entire package to be completed by end-2025.

"We got in the Romanian market at the beginning of this year, as well as the offers we have actually signed shows our determination to become a vital gamer in this market," claimed Liudas Liutkevicius, handling partner of the INVL Renewable Energy Fund I.

Last month, the INVL-managed fund consented to acquire a 102.7-MW portfolio of six solar projects in Romania. The fund's worldwide portfolio presently stands at 475 MW.