Lithuanian fund INVL invests EUR 120 mln into two PV parks in Romania

INVL Renewable Energy Fund I announced on June 6 that it was starting operations in Romania and intended to invest approximately EUR 120 mln to develop the photovoltaic parks projects it bought.

INVL Renewable Energy Fund I is managed by INVL Asset Management, the largest asset management company in Lithuania.

The Romanian solar energy projects that INVL just added to its portfolio hold the necessary permits to connect to the power grid - the key element for a plot of land to qualify as PV park projects and be sold as such.

The two PV parks are expected to become operational in 2024.

INVL Renewable Energy Fund I, dedicated to informed investors, was established by INVL Asset Management on July 20, 2021.

It invests in renewable energy projects (solar and wind) in the early and middle stages of development, including the construction of new power plants, development and/or acquisition of the necessary infrastructure for the operation of power plants and the efficient management of existing power plants in the European Union and the member states of the European Economic Area.

Following the acquisition in Romania, the fund's portfolio includes development projects for more than 200 MW of solar parks. All projects already have the necessary permits to connect to the power grid. The construction of solar parks will take place between 2023-2025.

(Photo courtesy of the company)