Image: INVL Renewable Energy Fund I
INVL Renewable Energy Fund I, run by INVL Asset Management in Lithuania, acquired €24.4 million ($26.7 million) for the development of a 60 MW photo voltaic farm in Romania, which might be positioned in Dolj County within the south of the nation.
The funding comes from The European Bank for Reconstruction and Development and Paris-based Eiffel Investment Group, every of which has been awarded €12.2 million.
“The funding won’t solely enable us to speed up the development of solar energy vegetation which are already growing in Romania, but additionally to make a big contribution to the enlargement of renewable vitality technology capability in Romania,” mentioned Liudas Liutkevičius, managing associate , INVL Renewable Energy Fund I.
Last 12 months, the INVL Renewable Energy Fund secured €25 million for brand spanking new photo voltaic vegetation in Romania with a cumulative capability of 51 MW. The development of those services is anticipated by the top of September this 12 months.
The fund, established in 2021, at the moment invests in eight photo voltaic tasks in Romania with a complete capability of 451 MW. It additionally has a presence in Poland, with tasks totaling 32 MW at the moment beneath growth, bringing its complete portfolio to 483 MW.
Romania hit 2.6 GW of photo voltaic capability on the finish of final 12 months. Earlier this 12 months, Helsinki-based investor Korkia and Romanian renewable developer Econo Green Energy introduced plans to develop 600 MW of photo voltaic within the nation, with development scheduled for subsequent 12 months.
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