Rezolv Energy Secures Funding For Massive Romanian Solar Project

Prague-based independent power producer Rezolv Energy has secured a financing package of up to €561 million to develop the Dama solar project in Romania’s Arad county. Once completed, this 1.3 GW facility will stand as the European Union’s largest onshore renewable energy installation. The project is projected to produce 1.8 TWh of electricity every year, enough to power approximately 280,000 households. With final regulatory approvals now in place, construction is set to begin, aiming for commercial operations by the second half of 2028, marking a significant milestone for Romania’s rapidly expanding solar market.

The massive funding deal represents the largest transaction in Rezolv Energy’s history. It is supported by an anchor investment from the European Investment Bank, alongside a consortium of 14 lenders, including ten commercial banks, the International Finance Corporation, the European Bank for Reconstruction and Development, and the Black Sea Trade & Development Bank. The project’s financial viability is further bolstered by two contracts for difference secured during Romania’s second renewables auction, which cover 520 MW of the plant's total capacity, as well as a corporate power purchase agreement with an undisclosed partner.

The Dama solar project is expected to play a vital role in Romania’s energy landscape, with its annual output equivalent to roughly 36% of the country's total solar generation from the previous year. This development follows a period of robust growth for the Romanian solar sector, which saw its cumulative capacity surpass 8.5 GW by the end of July. Following the recent receipt of final legal clearances from the Romanian Energy Regulatory Authority, the company is now transitioning the site into the construction phase to meet its 2028 operational target.