Tuesday, November 29, 2022
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New acquisition in Romania: the attractiveness of the solar market is growing fast

The INVL Renewable Energy Fund I managed by INVL Asset Management, signed two agreements for the acquisition of six solar projects with a total capacity of 102.7 megawatts (MW) in Romania.

After the transactions, the INVL Renewable Energy Fund I portfolio of projects under development in Romania has increased to 268.7 MW. All solar projects already have approved grid connection terms. The fund’s overall investment potential in Romania will exceed 200 million euros and it is expected that power plants will reach commercial operations gradually starting in 2024 while the commissioning of the full portfolio is expected in the second half of 2025.

“The attractiveness of the Romanian market is growing fast,” said Liudas Liutkevičius, Managing Partner of the INVL Renewable Energy Fund I. “We are observing constant growth of interest from foreign investors in the country’s renewable energy sector. Our fund’s investments in sustainable energy projects are already quite significant and we continue to actively seek new acquisition targets on the market. The fund’s solar projects in Romania are nearing the start of construction which opens more opportunities for local cooperation in areas of construction and equipment supply. Growing fund’s project portfolio also presents an attractive opportunity for potential investors to join the fund and use available funds for positive environmental impact investment and generate attractive returns.”

The INVL Renewable Energy Fund I recently announced an additional fund-raising round which will end at the beginning of November. It is targeting renewable energy projects with a focus on Central Eastern European countries, where it sees big growth potential.

The total fund’s portfolio including projects in Romania and Poland has reached a total capacity of nearly 309 MW. The fund is considering investment opportunities in the Baltic countries as well and expects by the end of this year to increase the portfolio of projects under development to 400 MW or more and to complete construction works of all projects by the end of 2025.

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