Asset manager INVL, backed by Lithuania's Modus Group, has signed a €29.3m loan via Kommunalkredit to support construction of a 71MW solar project in Romania's Dolj county.
The debt was raised via INVL's Renewable Energy Fund I and Capcora was financial adviser to the borrower while Glodeanu & Partners was legal adviser.
The new project is the third large-scale solar development by INVL in Romania, due to be completed by September 2026. The fund is advancing eight solar projects in Romania with a combined capacity of 356.6MW and a 32MW solar portfolio in Poland. Investments in Romania and Poland are expected to exceed €250m across six projects, all targeted for completion by the end of Q3 2027.
