Rezolv Energy, through its project subsidiary West Power Investments, has signed an up to EUR 561 million project financing package for Dama Solar, a 1.3GWp solar project in Arad County, western Romania.
The Dama Solar financing is the largest financing transaction signed by Rezolv Energy to date, both in terms of the size of the financing package and the number of lenders involved. It surpasses the EUR 291 million secured for Phase 1 of the VIFOR wind farm, the EUR 331 million secured for Phase 2 of the project, and the EUR 90 million secured for the St. George solar park in Bulgaria.
The financing, underpinned by an anchor investment by the European Investment Bank (EIB) benefitting from an Invest EU guarantee, has been provided by a consortium of 14 lenders, comprising 10 commercial banks – Erste Group Bank, UniCredit Bank, Banca Comercială Intesa Sanpaolo Romania, Société Générale, OTP Bank, Československá obchodní banka (ČSOB), Raiffeisen Bank S.A., Raiffeisenlandesbank Niederösterreich-Wien, Piraeus Bank and Siemens Bank – as well as three additional Development Finance Institutions (DFIs): European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC) and Black Sea Trade and Development Bank (BSTDB).
The financing is underpinned by two Contracts for Difference (CfDs) awarded to Dama Solar in Romania’s second CfD auction covering 520MW of the project’s capacity, as well as an additional corporate Power Purchase Agreement (PPA) with a premium offtaker.
The project will move directly into the construction phase, with the engineering, procurement and construction (EPC) partners to be confirmed shortly. The project will create significant employment opportunities, particularly during the construction phase, with current plans envisaging a peak workforce of around 1,500 people.
Dama Solar is expected to enter commercial operations in H2 2028, as the largest onshore renewable energy project in the European Union. The project will also incorporate an 82-hectare nature reserve, one of the largest private-led nature restoration projects linked to a solar park in Southeastern Europe.
Dama Solar forms part of Rezolv Energy’s 2.8GW portfolio of large-scale renewable energy projects in Romania and Bulgaria. In May 2026, Rezolv commissioned the 225MW St. George solar park in Bulgaria, while the first phase of its 461MW VIFOR Wind Farm will be energised on 1 October 2026. Rezolv Energy’s fourth project is the 600MW Dunarea East & West Wind Farms in Constanța County, which is in late-stage development.
Rezolv Energy’s portfolio includes projects in Romania and Bulgaria with a combined capacity of almost 3GW.
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