INVL Renewable Energy Fund I repaid a EUR 17.5 million loan to Cordiant Capital ahead of schedule

REFI Solar, a company of INVL Renewable Energy Fund I – an investment fund focusing on renewable energy projects and managed by INVL Asset Management, a leading alternative asset management group in the Baltics – has repaid in full a EUR 17.5 million loan to the global investment management firm Cordiant Capital nearly six months ahead of the original maturity date.

The loan from Cordiant Capital was used to expand the capacity of solar parks under development in Poland and Romania, with a total combined capacity of 389 megawatts (MW). The financing enabled the company to support part of the construction phase of these projects and continue their successful development. Although the loan was originally due in May 2026, the company met its obligations early, supported by capital successfully raised from local investors.

“This is an important milestone in the fund’s lifecycle – we are successfully completing our cooperation with a world-class institutional lender. When offering REFI Sun bonds to investors, we communicate that the proceeds are used to optimize the fund’s capital structure and service existing obligations,” says Liudas Liutkevičius, Managing Partner at INVL Renewable Energy Fund I.

The early repayment to Cordiant Capital further strengthens the fund’s capital structure and enhances its attractiveness to investors as it prepares for further bond placement rounds.

“The successful repayment of institutional debt is a strong signal to the market. It not only marks the fund’s first major successfully completed debt transaction but also represents a solid step towards creating sustainable long-term returns for our bondholders and fund investors,” adds Liutkevičius.

Currently, INVL Renewable Energy Fund I has raised a total of EUR 97.768 million from investors through fund units and bonds issued by its controlled companies.

About the INVL Renewable Energy Fund I

INVL Renewable Energy Fund I was established on 20 July 2021 by INVL Asset Management, the leading alternative asset manager in the Baltic States, as a sub-fund for informed investors. It invests in early- and mid-stage renewable energy projects (solar), 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 Invalda INVL, the leading Baltic asset management group.

Further information:

Liudas Liutkevičius

Managing Partner of the INVL Renewable Energy Fund I