INVL Renewable Energy Fund I, managed by INVL Asset Management, is developing a new 71 MW solar photovoltaic project in Romania in a bid to expand its renewable energy portfolio in the country. The project forms part of the fund’s broader strategy to increase clean energy investments across Central and Eastern Europe. The project also supports Romania’s efforts to increase solar generation capacity and align with EU decarbonization targets. Development on the country’s second phase for the Parau solar PV project is also gearing on after Shanghai Electric recently joined as EPC contractor.
INVL Renewable Energy Fund Secures €29.3M Loan for New 71 MW Solar Project in Romania
Reported July 28, 2025 – The INVL Renewable Energy Fund I, managed by INVL Asset Management, has signed a €29.3 million loan agreement with Kommunalkredit Austria AG to finance the construction of a 71 megawatt (MW) solar power plant portfolio in Dolj County, Romania. This project is INVL’s third large-scale solar venture in the country and is set for completion by September 2026.
Project Factsheet
Location: Dolj County, Romania
Developer: INVL Asset Management
Technology: Utility-scale solar PV
Capacity: 71 MW
Project completion date: September 2026
INVL Renewable Fund I for Romania
Funding partner: Kommunalkredit Austria AG
Fund portfolio: 389 MW (356 MW Romania, more than 32 MW Poland)
Total investment: More than €250 million
Investor bond offer: Up to €15 million (Only for Baltic markets, July-Aug 2025)
Finance advisors: Capcora (Germany) and Glodeanu & Partners (Romania)
Strong Financial Backing for Green Growth
This is not the first time Vienna-based Kommunalkredit has backed the fund. With “Infrastructure knows no borders” as their mission statement, the company also extended a €25 million loan to support earlier solar projects in Romania in November 2023. This underscores a deepening partnership and long-term commitment to accelerating the region’s green energy transition.
“Long-term support plays an important role in accelerating green energy in the region,” said Liudas Liutkevičius, Managing Partner of INVL Renewable Energy Fund I.
The latest €29.3M loan to INVL Renewable Energy Fund for new 71 MW solar projects in Romania also reflects growing confidence in the fund’s strategy.
With a pipeline of 389 MW of projects across Romania and Poland, the fund aims to play a defining role in reshaping Eastern Europe’s energy landscape. In Romania alone, INVL Renewable Energy Fund is advancing 8 solar projects totaling 356 MW, while in Poland, it’s developing over 32 MW of solar capacity. The total planned investment exceeds €250 million, with more than €90 million already deployed.
Expanding Access to Investors
To further finance the green energy projects, the fund launched a public bond offering of up to €15 million, running from 28 July to 15 August in the Baltic markets.
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