Austrian investment fund Core Value Capital envisages investing EUR 800 mln in Romanian photovoltaic projects with a total capacity of 1GW over the next seven years. However, in the meantime, it purchased two hectares in southern Bucharest, where it will develop a 550-apartment project, according to Profit.ro.

The investment fund already owns a 50 MW photovoltaic park in Giurgiu, developed in 2012-2014 following an investment of almost EUR 90 mln.

It is analyzing a portfolio of projects of up to 500 MW and is in an advanced stage of signing the land acquisition contracts for these projects, according to Gerhard Lipkovich, managing partner of LSG Group, a company that builds and operates Core parks Value in Romania.

In the real estate sector, a company of the Austrian group recently purchased about 2 hectares of land from the businessman Horia Culcescu and the entrepreneurs Pușa and Andrew Hack for around EUR 6 mln. The investment in this project amounts to about EUR 50 mln.

andrei@romania-insider.com

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