INVL Renewable Energy Fund I secures new Kommunalkredit financing for solar energy projects in Romania

INVL Renewable Energy Fund I, managed by INVL Asset Management, has secured a EUR 29.3 million (US$33 million) loan from Kommunalkredit Austria AG to fund the construction of 71 MW of solar power plants in Dolj County, Romania—the fund’s third major solar-scale development in the country. This marks the second financing provided by Kommunalkredit to the fund, following a EUR 25 million (US$29 million) loan in November 2023 for earlier solar developments in Romania.

The new solar facilities are targeted for completion by September 2026 and contribute to the fund’s broader pipeline of eight Romanian solar projects totaling 356 MW, alongside over 32 MW in Poland, part of a development portfolio of approximately 389 MW, with total investments expected to surpass €250 million by 2027. In Romania, the fund is investing in projects for 8 solar plants with a combined capacity of 356 MW. In Poland, it is developing solar park projects with over 32 MW in capacity. Investments in Romania and Poland are expected to exceed EUR 250 million. The fund has invested over EUR 90 million in the acquisition and construction of the projects as of June 2025. Construction of all the solar parks should be completed by the end of 2027. 

German financial advisory firm Capcora and Romanian law firm Glodeanu & Partners advised the INVL Renewable Energy Fund I in obtaining the financing from the Austrian bank.