Solar Energy

CMS assists INVL in securing EUR 24.4 million financing from EBRD and Eiffel for solar plant in Romania

International law firm CMS has provided legal assistance to INVL Renewable Energy Fund I, facilitating a EUR 24.4 million financing package from the European Bank for Reconstruction and Development (EBRD) and Eiffel Investment Group. The funds, provided through the Eiffel Energy Transition Fund of the Paris-based Eiffel Investment Group, will support the construction of a 60 MW solar power plant in Dolj County, Romania.

INVL Renewable Energy Fund I, established in 2021 by INVL Asset Management, focuses on investing in renewable energy projects, particularly in early-stage solar and wind energy developments. The fund is committed to expanding renewable energy infrastructure across the European Union and the European Economic Area, with a combined capacity of 451 MW across eight solar parks in Romania.

Liudas Liutkevičius, Managing Partner at INVL Renewable Energy Fund I, expressed gratitude for the support from EBRD, Eiffel Investment Group, and the CMS team, emphasizing the significance of this financing for the successful completion of the solar plant in Dolj.

The CMS team, led by Kateryna Chechulina, Counsel (CMS Ukraine), and supported by Diana Dona, Associate (CMS Romania), and Andrei Tercu, Tax Director, played a crucial role in negotiating the financing documents and addressing tax-related aspects.

Source: Piata financiara

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