Funding secured for 60 MW solar plant in Romania

The European Bank for Reconstruction and Development (EBRD) and Eiffel Investment Group have provided EUR 24.4 million (US$ 26.6 million) in funding to the INVL Renewable Energy Fund I, run by Lithuania’s INVL Asset Management for the construction of a 60 MW solar plant located in Dolj County in the south of Romania.

The EBRD and Paris-based Eiffel Investment Group have each provided EUR 12.2 million (US$ 13.3 million) in financing to Danube Solar Five, a special-purpose vehicle in Romania. This funding will help build solar plants at Robanesti and Pielesti, with a combined installed capacity of 60 MW. The project is owned by Lithuania’s INVL Renewable Energy Fund I and managed by UAB INVL Asset Management. EBRD's finance covers half of the EUR 24.4 million (US$ 26.6 million) bond, with Eiffel Investment Group contributing the remaining amount.