INVL Renewable Energy Fund I Expands Solar Projects with New Financing

INVL Renewable Energy Fund I Secures New Financing

INVL Renewable Energy Fund I, managed by INVL Asset Management, is making strides in renewable energy by signing a significant loan agreement with Kommunalkredit Austria AG. This loan amounts to EUR 29.3 million and aims to fund the construction of solar power plants with a notable capacity of 71 megawatts (MW) in Romania.

Liudas Liutkevi?ius, Managing Partner of the INVL Renewable Energy Fund I, expressed gratitude for Kommunalkredit's consistent support for their projects in Romania. He emphasized that this long-term partnership is crucial for driving the transition toward green energy in the region.

Building on a Strong Partnership

This recent financing marks the second loan from Kommunalkredit to the fund, following a previous agreement in November that provided EUR 25 million for solar development projects in Romania. This continuity showcases the mutual commitment both organizations have toward enhancing solar infrastructure.

Konstantin Ponomarenko from Kommunalkredit reflected on their ongoing collaboration, noting that the growth of solar energy infrastructure in Romania aligns with both the fund’s strategic goals and their own mission to support energy transition in burgeoning markets. This relationship underlines Kommunalkredit's commitment to offering tailored financing solutions that fuel sustainable development across Europe.

Project Overview and Expectations

The solar project, set in Dolj County, represents the third large-scale solar venture for the fund in Romania. The facilities are projected to be completed by the end of September of the following year, significantly contributing to the renewable energy landscape in the area.

Focus on Regional Growth

INVL Renewable Energy Fund I has identified Polish and Romanian markets as focal points for expansion, recognizing significant growth opportunities. Currently, the fund’s portfolio includes projects under development with a total capacity of 389 MW across these regions.

In Romania, the fund is strategically investing in a cluster of eight solar plants, collectively expected to generate a capacity of 356 MW. Meanwhile, projects in Poland involve solar parks with an additional capacity exceeding 32 MW. Altogether, investments in both Romania and Poland are projected to surpass EUR 250 million, with over EUR 90 million already allocated toward the acquisition and construction of these initiatives as of June mid-year.

Future Financing Plans

Looking ahead, INVL Renewable Energy Fund I plans to raise up to EUR 15 million through the issuance of bonds. This public offering will target both private and institutional investors across the Baltic region, running from late July to mid-August. Such financial strategies underscore the fund's robust approach to capitalizing on market opportunities.

Advisory Support

Advisory support for the latest financing arrangement was provided by Capcora, a leading German financial advisory firm, alongside Romanian legal experts from Glodeanu & Partners. Their contributions were pivotal in securing this partnership with Kommunalkredit, reinforcing the success of the INVL Renewable Energy Fund I in attracting necessary funding.

About INVL Renewable Energy Fund I

Established in July 2021, the INVL Renewable Energy Fund I operates under INVL Asset Management, a prominent alternative asset manager in the Baltic States. The fund is dedicated to investing in early and mid-stage renewable energy projects, such as solar, by facilitating the construction of new power plants and managing existing infrastructure within the European Union and the members of the European Economic Area.

INVL Asset Management is part of Invalda INVL, which stands as the leading asset management group in the Baltic region, illustrating their commitment to developing sustainable energy solutions.

For further inquiries, please contact
Liudas Liutkevi?ius
Managing Partner of the INVL Renewable Energy Fund I
liudas.liutkevicius@invl.com

Frequently Asked Questions

What is INVL Renewable Energy Fund I?

INVL Renewable Energy Fund I is a subsidiary fund by INVL Asset Management focused on investing in renewable energy projects across Europe.

What recent financing did the fund secure?

The fund secured a EUR 29.3 million loan from Kommunalkredit Austria AG for the construction of solar plants in Romania.

What is the capacity of the projects being financed?

The current financing supports solar energy projects with a total capacity of 71 megawatts.

Which markets is the INVL Renewable Energy Fund I targeting?

The fund is primarily focused on the Polish and Romanian markets due to their high growth potential in renewable energy.

How much is the fund looking to raise through bonds?

The INVL Renewable Energy Fund I aims to raise up to EUR 15 million through an upcoming bond offering.

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