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, 32+ MW Poland)
Total investment: €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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