INVL secures €25 million loan for Romanian solar power plants

By Marisa Wong

Los Angeles, Nov. 21 – INVL Renewable Energy Fund I signed an agreement with Kommunalkredit Austria AG on a €25 million loan, according to a press release.

Loan proceeds will be used to finance the construction of solar power plants with 51 megawatts capacity in Romania. Overall, the fund is investing in eight projects for solar power plants in Romania with a combined capacity of 451 MW.

In securing financing from the Austrian bank, the INVL Renewable Energy Fund I was advised by the German financial advisory firm Capcora and the Romanian law firm Glodeanu & Partners.

The fund was established in July 2021 by Lithuania-based INVL Asset Management to invest in early- and mid-stage renewable energy projects (solar and wind), including the construction of new power plants, the development or acquisition of the infrastructure necessary for the operation of power plants and effective management of existing power plants in the European Union and member states of the European Economic Area.

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