September 23 (Renewables Now) – A renewable power fund managed by Lithuania’s INVL Asset Administration has agreed to accumulate a 102.7-MW portfolio of six photo voltaic initiatives in Romania, the development of which is about to start from subsequent 12 months.
The INVL Renewable Power Fund I mentioned on Friday it’ll buy the schemes beneath two agreements, bringing the general capability of its Romanian property beneath administration to 268.7 MW. Monetary particulars in regards to the transactions had been saved beneath wraps.
With the newest offers, the fund’s funding in Romania will surpass EUR 200 million (USD 195.5m), it mentioned.
The six photovoltaic (PV) crops are at present at a sophisticated stage of growth, some with grid-connection and building permits in place. They’re deliberate to enter building step by step from the primary quarter of 2023, with business operations anticipated in 2024. The whole portfolio will change into absolutely operational within the second half of 2025.
“The enchantment of the Romanian market is rising quickly. The Fund’s investments in sustainable power initiatives are already at a big degree and we proceed to actively search new acquisition targets available in the market,” mentioned Liudas Liutkevicius, managing accomplice of the fund.
INVL Renewable Power Fund invests in early- and mid-stage wind and photo voltaic initiatives and power infrastructure within the European Union and member states of the European Financial Space. Its whole portfolio, together with initiatives in Romania and Poland, at present stands at 309 MW and is deliberate to achieve 400 MW by end-2022.
(EUR 1.0 = USD 0.978)