INVL Asset Management’s INVL Renewable Energy Fund I recently finished a new round of fundraising, bringing its total amount raised to EUR 52.9 million by bringing in an additional EUR 18.3 million from investors.
The amount raised demonstrates that investors have a lot of faith in our fund and this asset class. According to Liudas Liutkeviius, managing partner of the INVL Renewable Energy Fund I, investing in the fund gives investors the ability to make a major contribution to the expansion of renewable energy, to diversify their assets geographically, and generate an appealing return.
The INVL Family Office distributes the investment units of the fund. With a current concentration on the Romanian and Polish sectors, where the fund’s managers anticipate significant growth potential, the funds raised from investors will be utilized to create renewable energy plants across the European Union.
The fund now has a portfolio of projects in development with a total capacity of 475 megawatts (MW).
The INVL Renewable Energy Fund I inked a contract in October this year to purchase a 174 MW solar farm project in Romania. With the acquisition, the fund now has eight solar farm projects with a combined capacity of 442.7 MW in Romania that is under development. The solar farms’ initial construction is anticipated to begin by the end of the first quarter of 2023. Their construction should be finished by the end of the third quarter of 2025. The sum of the fund’s investments in Romanian renewable energy projects may be close to 350 million euros.
Additionally, the fund is building solar energy facilities in Poland with a capacity greater than 32 MW. Some Polish solar farms are expected to begin construction in the first half of 2019. The purpose is to make the power plants available for end users to purchase so they may meet their electricity demands.
Renewable energy is a desirable asset class from the perspectives of the economy, the environment, and energy independence. Due to the peculiarities of the production balance in those markets, Poland and Romania require new electricity generation capacity, and their governments support renewable energy development.
About the INVL Renewable Energy Fund I
The INVL Renewable Energy Fund I was established on 20 July 2021 by INVL Asset Management as a sub-fund for informed investors. It invests in early- and mid-stage renewable energy projects (solar and wind), including the construction of new power plants, the development and/or acquisition of the infrastructure necessary for the operation of power plants, and effective management of existing power plants in the European Union and member states of the European Economic Area.
INVL Asset Management is part of INVL, the leading Baltic investment management, and life insurance group.
The person authorized to provide additional information:
Managing Partner of the INVL Renewable Energy Fund I