Renewable energy firm Airengy is acquiring INVL Renewable Energy Fund I’s entire portfolio of solar power plants in Poland for €23.7 m.
Airengy has agreed to buy the 33.3MW solar parks from the renewable energy projects investment fund managed by Baltics manager INVL Asset Management.
The assets, which are being acquired in a forward sale, will transfer upon the construction and commissioning of the parks.
Liudas Liutkevičius, managing partner at INVL Renewable Energy Fund I, said once the transaction is completed, the proceeds will be directed towards the development of other renewable energy projects managed by the fund.
Liutkevičius added: “The sale of the projects under development in Poland is a result of the consistent implementation of the fund’s strategy. We plan to use the proceeds from the sale to further develop projects in Romania.”
INVL Renewable Energy Fund I manages a 389MW solar portfolio across Poland and Romania, consisting of 16 projects in total. The capacity is split between 356MW across eight Romanian parks and 33MW across eight Polish parks.
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