INVL Renewable fund gets EUR 25 mln loan for solar power plants in Romania
INVL Renewable Energy Fund I, managed by INVL Asset Management and investing in renewable energy projects, signed an agreement with Kommunalkredit Austria AG (Kommunalkredit) on a loan of EUR 25 million to finance the construction of solar power plants with 51MW capacity in Romania.
“We see Romania as a very rapidly emerging European Union (EU) market that is heavily focused on renewable energy projects. We believe the fund’s investments in more renewable electricity production capacity will contribute greatly to reducing emissions and increasing energy security in Romania,” says Liudas Liutkevičius, Managing Partner of the INVL Renewable Energy Fund I.
Overall, the fund is investing in 8 projects for solar power plants in Romania with a combined capacity of 451 MW.
(Photo source: the company)