INVL Renewable Energy Fund I has signed an agreement to sell its entire portfolio of solar power projects in Poland to Airengy Tech Ltd. for €23.7 million.
The portfolio consists of solar parks with a combined capacity of 33.3 MW. The transaction is structured as a forward sale, meaning the purchase price was fixed at signing, with ownership transferring once the projects are completed and operational.
The deal will be executed in three stages. Payment for the first portion of projects, totaling approximately 13.9 MW, has already been completed. The remaining 12.9 MW and 6.5 MW are expected to be transferred in the second half of 2026 and the first half of 2027, respectively, subject to receipt of the required operating permits.
The divestment represents a full exit from Polish solar assets for the fund, which is managed by INVL Asset Management. Following completion, proceeds from the transaction will be redeployed into further renewable energy development initiatives.
The fund, launched in 2021, focuses on early- and mid-stage solar projects across the European Union and European Economic Area. Its broader portfolio includes projects in both Poland and Romania, with a combined capacity of 389 MW, of which the majority is in Romania.
Airengy, which is listed on the Tel Aviv Stock Exchange, is expanding its footprint in Europe through the acquisition and development of renewable energy assets, including solar, wind, and battery energy storage systems. The company is also developing long-duration energy storage technology through its compressed air-based system, positioning itself as an integrated clean energy platform.
KEY QUOTE:
“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.”
Liudas Liutkevičius, Managing Partner, INVL Renewable Energy Fund I
