INVL fund secures capital for 60-MW solar project in Romania

A fund run by Lithuania’s INVL Asset Management has secured EUR 24.4 million (USD 26.4m) for the construction of a 60-MW solar farm in Romania.

The financing, equally split between the European Bank for Reconstruction and Development (EBRD) and France-based Eiffel Investment Group, was provided to INVL Renewable Energy Fund I, a press statement said today.

The solar farm will be built in Romania's Dolj County.

The INVL fund is investing in eight solar power projects in Romania with a combined capacity of 451 MW. It noted that construction of solar plants in the country with a total capacity of 51 MW is expected to be completed by the end of September.

The investment vehicle is also active in Poland where it is developing solar capacity of more than 32 MW. All the solar parks within its portfolio in the two countries are scheduled to be completed by the end of the third quarter of 2026.

Prior to the agreement with EBRD and Eiffel, INVL Renewable Energy Fund I secured EUR 17.5 million from an unnamed international debt fund to advance the acquisition and construction of a 482-MWp portfolio of solar projects in Romania and Poland.

(EUR 1 = USD 1.084)

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