The INVL Renewable Energy Fund I is all set to acquire six Romanian solar projects.
The group has already signed two agreements for the same. The projects will have a total capacity of 102.7MW. The construction work on the development portfolio is set to start from next year.
It has been informed that the solar projects are at an advanced stage of development. They have already gone through approval for grid-connection while some projects have already received construction permits.
According to INVL Renewable Energy Fund I, its overall investment into Romania will now exceed 200 million euros. In total, the group’s portfolio in Romania has reached 268.7MW.
Managing Partner of the INVL Renewable Energy Fund I , Liudas Liutkevicius was quoted in a report, “The appeal of the Romanian market is growing rapidly. We continue to witness the sustained growth of interest from foreign investors for the country’s renewable energy sector.”
He further stated that the fund will continue to seek new acquisition targets in the Romanian market.
“Growing the fund’s project portfolio also presents a series of attractive opportunities for potential investors to join the fund and deploy available capital for positive environmental impact investment activity and to generate attractive returns,” he was further quoted.
It has been informed that the new power plants will start commercial operations in 2024.
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