Dama Solar project in Romania secures major financing

The Dama Solar project in Arad County, Romania, has secured significant financing to become one of Europe’s largest onshore renewable developments. The European Investment Bank is acting as an anchor investor, providing €100 million as part of a larger financing package that includes up to €561 million from a syndicate of 14 lenders.

Developed by Rezolv Energy, the 1.3 GWp solar plant is expected to produce approximately 1.8 TWh of electricity annually, enough to power nearly one million people or 280,000 households. The project is slated to enter commercial operation in the second half of 2028. Revenue will be supported by a mix of Romanian contracts for difference for 520 MW and corporate power-purchase agreements for the remaining output.

Beyond energy production, the project includes environmental initiatives to restore 82 hectares of natural area and convert low-quality agricultural land into pastures to support steppe grasslands and local wildlife. During its most intensive construction phase over the next three years, the project is expected to employ up to 1,500 people.