INVL Renewable Energy Fund I secures new Kommunalkredit financing for solar energy projects
Published by Abby Butler,
Editorial Assistant
Energy Global,
The INVL Renewable Energy Fund I, which is managed by INVL Asset Management and invests in renewable energy projects, signed a new €29.3 million loan agreement with Kommunalkredit Austria AG.
The proceeds of the loan will be used to finance the construction of solar power plants with 71 MW of capacity in Romania.
Liudas Liutkevicius, Managing Partner of the INVL Renewable Energy Fund I, responded: “We value Kommunalkredit’s steady commitment to backing our renewable energy projects in Romania. Long-term support plays an important role in accelerating the transition to green energy in the region.”
This is the second loan by European infrastructure banking specialist, Kommunalkredit, to the fund. In November 2023, the Vienna-based bank granted the INVL Renewable Energy Fund I a €25 million loan for the construction of solar power plants in Romania.
Konstantin Ponomarenko, Senior Transactor, Structuring & Execution, Banking, Kommunalkredit Austria, added: “We are pleased to continue our partnership with the INVL Renewable Energy Fund I through this follow-up financing. The development of solar energy infrastructure in Romania reflects both the fund’s strategic vision and our commitment to enabling the energy transition in high-growth markets. This transaction underlines Kommunalkredit’s dedication to delivering bespoke financing solutions that empower sustainable development across Europe.”
The 71-MW project, located in Dolj County, is the fund's third large scale solar energy development project in Romania. Construction of the facilities is scheduled for completion by the end of September 2026.
The INVL Renewable Energy Fund I is focusing on the Polish and Romanian markets, where the fund’s managers see big growth potential. Total capacity of the fund’s portfolio of projects in development in these markets is 389 MW.
In Romania, the fund is investing in projects for 8 solar plants with a combined capacity of 356 MW. In Poland, it is developing solar park projects with over 32 MW in capacity. Investments in Romania and Poland are expected to exceed €250 million. The fund has invested over €90 million in acquisition and construction of the projects as of June 2025. Construction of all the solar parks should be completed by the end of 2027.
The INVL Renewable Energy Fund I is currently seeking to raise up to €15 million through an offering of bonds. The debt securities will be publicly offered to private and institutional investors in the Baltic countries from 28 July to 15 August (inclusive).
German financial advisory firm, Capcora, and Romanian law firm, Glodeanu & Partners, advised the INVL Renewable Energy Fund I in obtaining the financing from the Austrian bank.
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Read the article online at: https://www.energyglobal.com/solar/29072025/invl-renewable-energy-fund-i-secures-new-kommunalkredit-financing-for-solar-energy-projects/
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