The INVL Renewable Energy Fund I managed by INVL Asset Management has concluded an agreement on the acquisition of a solar farm project in
The fund is acquiring the 174 MW project before it has secured grid-connection capacity, though that is envisaged in the first quarter of 2023, with plans to reach the construction phase in the fourth quarter next year. This acquisition brings the total capacity of the eight solar farm projects under development in
“We entered Romanian market at the start of this year, and the deals we have signed shows our determination to become an important player in this market. We appreciate support of our Romanian partners in building our portfolio. We look forward to the start of construction and possibility to work with the local communities and authorties in bringing investments into their neighbourhood. Considering the portfolio of solar farm projects under development, the fund's investments in
He says the first solar power plant projects will reach the construction phase already at the end of this year. It is planned that the first solar farm construction works will commence in the first quarter of 2023. Construction of all the solar farms should be completed by the end of the third quarter of 2025.
Besides
The fund’s portfolio of projects in development now has total capacity of 475 MW.
The INVL Renewable Energy Fund I is currently conducting an additional fund-raising round which will end in the middle of November. Investing in this fund is an opportunity for investors to diversify their assets geographically, contribute significantly to the development of renewable energy, and earn a competitive investment return in impact investments.
Under its agreed investment strategy, the fund targets renewable energy projects (onshore wind and utility-scale solar farms) within EU and
About the INVL Renewable Energy Fund I
The INVL Renewable Energy Fund I was established on
INVL Asset Management is part of INVL, the leading Baltic investment management and life insurance group.
The person authorised to provide additional information:
Liudas Liutkevičius
Managing Partner of the INVL Renewable Energy Fund I
liudas.liutkevicius@invl.com
© OMX, source