INVL Renewable Energy Fund I has secured a EUR 29.3 million loan for the installation of solar power plants with a capacity of 71 MW in Romania. The fund, managed by INVL Asset Management, invests in renewable energy projects and signed the new loan agreement with Kommunalkredit Austria AG.

Second Loan Agreement with Kommunalkredit Austria

This marks the second loan agreement between INVL Renewable Energy Fund I and Kommunalkredit Austria AG. In November 2023, the bank previously approved EUR 25 million for the construction of solar power plants in Romania. According to Liudas Liutkevičius, Managing Partner at INVL Renewable Energy Fund I, Kommunalkredit's long-term support plays an important role in accelerating the transition to green energy in the region.

Project Details and Timeline

Construction of the facilities with an overall capacity of 71 MW is located in Dolj County and is scheduled for completion by the end of September next year. This represents the fund's third large-scale solar energy project in Romania. The solar power plants will add to the fund's growing renewable energy portfolio in the region.

Broader Portfolio and Market Focus

INVL Renewable Energy Fund I is focusing on the Polish and Romanian markets, maintaining a combined portfolio of projects in development totaling 389 MW. In Romania specifically, the fund is planning eight photovoltaic units with a total capacity of 356 MW. The fund's future solar parks in Poland would have 32 MW overall capacity. All projects are scheduled to be completed by the end of 2027.

Investments in Romania and Poland are expected to exceed EUR 250 million altogether. Konstantin Ponomarenko, a Senior Structurer at Kommunalkredit Austria, stated that the development of solar energy infrastructure in Romania reflects both the fund's strategic vision and the bank's commitment to enabling the energy transition in high-growth markets. The transaction underlines Kommunalkredit's dedication to delivering bespoke financing solutions that empower sustainable development across Europe.

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