Rezolv Energy secures funding for 1.3 GW solar project in Romania

Rezolv Energy has secured financing for the Dama Solar project, a 1.3 GW photovoltaic plant in Arad County, western Romania. The project is expected to be one of the largest onshore renewable energy installations in the European Union.

The financing package includes a €100 million loan from the European Investment Bank (EIB) and involves a total of 14 lenders, including commercial banks, the European Bank for Reconstruction and Development, the International Finance Corporation, and the Black Sea Trade & Development Bank. The total estimated budget for the project is approximately €728 million.

Once operational, the facility is expected to produce roughly 1.8 TWh of electricity annually, enough to power more than 280,000 households. The project has secured two 15-year Contracts for Difference (CfD) for 520 MW, with the remaining capacity intended for the free market and long-term bilateral supply agreements. Commercial operations are scheduled to begin in the second half of 2028, and the project is expected to create up to 1,500 jobs during its development phase.