Lithuania's INVL Asset Management, through its Renewable Energy Fund I, has finalized a EUR 17.5 million (USD 18.7 million) loan agreement to advance the acquisition and construction of a 482-megawatt peak (MWp) portfolio of solar projects across Romania and Poland.
This financing arrangement was facilitated in collaboration with an international debt fund, as reported by German financial advisory firm Capcora and CMS Poland, who acted as advisors in the transaction.
The portfolio includes 450 MWp of solar capacity in Romania and 32 MWp in Poland, with a total investment estimated at approximately EUR 250 million.
The secured loan will contribute towards financing a portion of this investment, alongside senior debt, equity contributions, and potential proceeds from asset sales. The solar facilities are slated to commence operations by the conclusion of 2025.
Launched in July 2021, the INVL Renewable Energy Fund I specializes in early- and mid-stage investments in solar and wind energy projects, focusing primarily on opportunities in Central Eastern Europe.
