Lithuania's INVL Asset Management has secured EUR 24.4 million (USD 26.4 million) to fund the construction of a 60-MW solar farm in Dolj County, Romania. The financing, equally split between the European Bank for Reconstruction and Development (EBRD) and the France-based Eiffel Investment Group, was provided to INVL Renewable Energy Fund I, according to a press statement released today.
The fund is investing in eight solar power projects in Romania with a combined capacity of 451 MW. The construction of solar plants totaling 51 MW is expected to be completed by the end of September.
In addition to its activities in Romania, the INVL fund is also developing over 32 MW of solar capacity in Poland. All solar parks in its portfolio in Romania and Poland are scheduled for completion by the end of the third quarter of 2026.
Prior to the agreement with EBRD and Eiffel, INVL Renewable Energy Fund I secured EUR 17.5 million from an unnamed international debt fund to advance the acquisition and construction of a 482-MWp portfolio of solar projects in Romania and Poland.
