INVL Renewable Energy Fund I company REFI Sun aims to raise up to EUR 15 million in public bond offering

Core Viewpoint - INVL Renewable Energy Fund I is raising up to EUR 15 million through a bond offering by REFI Sun, targeting retail and institutional investors in the Baltic countries from July 28 to August 15 [1][4]. Group 1: Bond Offering Details - The bonds have a maturity of 2.5 years with a fixed interest rate expected to be between 7.5% and 8.5%, announced upon completion of the offering, and interest will be paid quarterly [2]. - The minimum investment amount for the bond offering is set at EUR 1,000 [4]. - The lead arranger for the bond program is Artea Bank, with participation from Evernord, LHV Pank, and Signet Bank as distribution partners [5]. Group 2: Fund's Investment Strategy - The funds raised will primarily refinance a previous loan and support the construction of solar power plants in Romania and Poland, where the fund sees significant growth potential [3][8]. - The total capacity of projects in development in Poland and Romania is 389 MW, with investments expected to exceed EUR 250 million [8][9]. - As of June 2025, the fund has invested over EUR 90 million in the acquisition and construction of solar projects, with completion expected by the end of 2027 [9]. Group 3: Fund Background and Performance - The INVL Renewable Energy Fund I was established on July 20, 2021, focusing on early- and mid-stage renewable energy projects in the EU and EEA [11]. - The fund has successfully raised EUR 73.9 million from investors through investment units and bonds to date [10]. - In February 2025, the fund's company REFI Energy completed an EUR 8 million bond offering with strong demand, indicating investor confidence in the fund's management [7].