The INVL Renewable Energy Fund I, managed by INVL Asset Management is to acquires six solar projects in Romania with a total capacity of 102.7 megawatts (MW).
Following the completion of these transactions, the INVL Renewable Energy Fund I portfolio of projects under management in Romania will increase to 268.7 MW. In addition, all the solar projects within the Fund’s current portfolio have already secured approved grid connection terms.
Subsequently, the fund’s overall investment into Romania will now exceed EUR200 million, factoring in existing solar power plant projects that have been in development there since June 2022. It is also expected that the new power plants will commence commercial operations in 2024 whilst commissioning of the full portfolio is expected in the second half of 2025.
The total Fund’s portfolio, including projects in Romania and Poland has now reached a total capacity of nearly 309 MW. The Fund is also considering attractive investment opportunities in the Baltic countries and expects to increase its portfolio of projects under development to 400 MW or more by the end of the year. The Fund will also look to complete all construction works for these projects by the end of 2025.
