We advised Austrian bank Kommunalkredit on granting a EUR 25 million loan to INVL Renewable Energy Fund I. The loan proceeds will be used to finance the construction of solar power plants with 51 megawatts (MW) capacity in Romania.
The fund invests in 8 projects for solar power plants in Romania with a combined capacity of 451 MW. The construction of all the solar parks should be completed by the end of 2025.
“We see Romania as a very rapidly emerging European Union (EU) market that is heavily focused on renewable energy projects,” says Liudas Liutkevičius, Managing Partner of the INVL Renewable Energy Fund I.
Kommunalkredit is a specialist for infrastructure and energy financing. The main investment segments are energy and environment, communications and digitalisation, transportation, social infrastructure and natural resources.
Our services and project team
Our team, consisting of partner Augustas Klezys and associate Dominykas Kulakas, advised the client on all Lithuanian-law legal related to the transaction.
