Business Forum • 29 July, 2025 at 12:04 PM
The INVL Renewable Energy Fund I has secured a new €29.3 million loan agreement with Kommunalkredit Austria for the construction of photovoltaic projects with a combined capacity of 71 MW in Romania.
Construction of these projects is anticipated to be completed by the end of September 2026.
German financial advisory firm Capcora and Romanian law firm Glodeanu & Partners advised the INVL Renewable Energy Fund I in securing the funding.
This marks the second loan provided by Kommunalkredit to the fund, following a €25 million loan in November 2023 for similar solar projects in Romania.
Konstantin Ponomarenko, Senior Transactor, Structuring & Execution, Banking, Kommunalkredit Austria, said: “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.”
The fund's total portfolio of projects under development in Romania and Poland amounts to 389 MW. Specifically in Romania, the fund is investing in eight solar plants with a combined capacity of 356 MW. Investments across Romania and Poland are projected to exceed €250 million.
As of June 2025, the fund has invested over €90 million in the acquisition and construction of these projects, with all solar parks expected to be completed by the end of 2027.