The European Financial institution for Reconstruction and Style and Eiffel Funding Neighborhood are providing €24.4 million in funding for the construction of a 60 MW photo voltaic plant in southern Romania.
Patrick Jowett
Image: INVL Renewable Vitality Fund I
The INVL Renewable Vitality Fund I, flee by Lithuania’s INVL Asset Management, has received €24.4 million ($26.7 million) for the construction of a 60 MW photo voltaic farm in Romania, to be located in Dolj County in the south of the nation.
The investment comes from The European Financial institution for Reconstruction and Style and Paris-primarily based mostly Eiffel Funding Neighborhood, which indulge in every granted €12.2 million.
“The funding no longer handiest enables us to dash the construction of the photo voltaic vitality crops already in growth in Romania, nonetheless furthermore to originate a necessary contribution to the growth of Romania’s renewable vitality generation ability,” said Liudas Liutkevičius, managing accomplice, INVL Renewable Vitality Fund I.
Final year, INVL Renewable Vitality Fund I secured €25 million for ticket new photo voltaic crops in Romania with a cumulative ability of 51 MW. Construction of these companies and products is anticipated by the stop of September this year.
The fund, which modified into as soon as established in 2021, is now investing in eight Romanian photo voltaic projects with a total ability of 451 MW. It furthermore has presence in Poland, with projects totaling 32 MW currently beneath construction, taking its total portfolio to 483 MW.
Romania hit 2.6 GW of photo voltaic ability by the stop of last year. Earlier this year, Helsinki-primarily based mostly investor Korkia and Romanian renewables developer Econous Inexperienced Vitality launched plans to originate 600 MW of photo voltaic in the nation, with constructing scheduled for subsequent year.
This shriek is protected by copyright and can indulge in to level-headed no longer be reused. Might maybe well maybe indulge in to you love to must cooperate with us and would prefer to reuse some of our shriek, please contact: editors@pv-journal.com.
