INVL Renewable Energy fetches another PV project in Romania
Active on the Romanian market since the beginning of this year, the INVL Renewable Energy Fund I, managed by INVL Asset Management, has concluded another agreement on the acquisition of another PV project with a capacity of 174 MWp.
The grid-connection capacity for the project is envisaged in the first quarter of 2023, with plans to reach the construction phase in the fourth quarter of next year.
This acquisition brings the total capacity of the eight solar farm projects under development in the country to 442.7 MWp. Of those, the projects for nearly 268 MWp of power already have grid connection conditions, with 42.7 MWp having building permits.
The latest acquisition will increase total investments in the fund’s projects in Romania, which may reach approximately EUR 350 mln.
Power plants are expected to reach commercial operations gradually starting in 2024, while the commissioning of a full portfolio is expected in the second half of 2025.
Besides Romania, the fund is also developing solar farm projects with 32 MW capacity in Poland.
(Photo source: Moruzx/Dreamstime.com)