The European Bank for Reconstruction and Development (EBRD), together with Eiffel Investment Group, will provide funding to constructi a 60MW capacity solar power plant in Romania being developed by the INVL Renewable Energy Fund 1.
The EBRD and the Paris-based Eiffel Investment Group’s Energy Infrastructure Investment Fund are granting the €4.4m funding in equal shares of €12.2m each to INVL Renewable Energy Fund 1 company in Romania.
Managing partner at INVL Renewable Energy Fund 1 Liudas Liutkevičius said: “We greatly appreciate the trust and recognition shown to us by the EBRD and Eiffel Investment Group.
“The funding not only enables us to accelerate the construction of the solar power plants already in progress in Romania, but also to make a significant contribution to the expansion of Romania’s renewable energy generation capacity.”
The 60MW capacity solar power plant project in Dolj County, Romania, is the second one for the Fund.
Construction of solar power plants with 51MW capacity in Romania is expected to be completed by the end of September this year.
Overall, the fund is investing in eight projects for PV arrays in Romania with a combined capacity of 451MW.
The total capacity of the INVL Renewable Energy Fund 1’s portfolio of renewable energy projects is 483MW.
Besides Romania, in Poland the fund is developing solar park projects with over 32MW of capacity.
Investments in the schemes in Romania and Poland are expected to exceed €330m. Construction of all the solar parks in those countries should be completed by the end of third quarter 2026.