Kommunalkredit Austria Finances: INVL Renewable Energy Fund I Invests in Romanian Solar Projects

Frankfurt, Germany - INVL Asset Management (INVL) from Lithuania is investing in renewable energies via the INVL Renewable Energy Fund I.

Kommunalkredit Austria AG (Kommunalkredit), based in Vienna, is providing a EUR 25 million loan to finance the construction of solar projects with a capacity of 51 MW in Romania. Capcora acted as exclusive financial advisor to INVL in this transaction.

"We see Romania as a very rapidly emerging European Union (EU) market that is heavily focused on renewable energy projects," says Liudas Liutkevi?ius, Managing Partner of INVL Renewable Energy Fund I.

Overall, the fund invests in eight photovoltaic projects in Romania with a total capacity of 451 MW.

The total capacity of the INVL Renewable Energy Fund I portfolio is 483 MW. In addition to Romania, the fund is developing solar parks in Poland with a capacity of more than 32 MW. Investments in the projects in Romania and Poland are expected to exceed EUR 330 million. The construction of all solar parks in these countries is scheduled to be completed by the end of 2025.

Source: IWR Online, 23 Nov 2023