Rezolv secures $630 million to build the EU's largest onshore renewable project in Romania
The 1.3-gigawatt Dama Solar farm will move straight into construction and is expected to start operating in the second half of 2028.
Renewable energy developer Rezolv Energy has secured up to 561 million euros ($630 million) in financing to build its 1.3-gigawatt Dama Solar project in Romania, which it says will be the largest onshore renewable energy project in the European Union.
The solar farm will cover more than 1,000 hectares and is expected to generate about 1,800 gigawatt-hours of electricity a year. Construction will start right away, with commercial operation expected in the second half of 2028 and a peak workforce of about 1,500 people. The site will also include an 82-hectare nature reserve.
The European Investment Bank anchored the financing, backed by a guarantee from the EU's InvestEU program, with commitments from 14 lenders. They include 10 commercial banks and three development lenders: the European Bank for Reconstruction and Development, the International Finance Corporation and the Black Sea Trade and Development Bank.
Two contracts for difference, government-backed deals that guarantee a set price for power, cover 520 megawatts of the project's capacity. A corporate power purchase agreement covers more of its output.
"It will make an important contribution to Romania's energy transition and its long-term energy security," said Alastair Hammond, Rezolv's chief executive.
This brief is based on reporting by Kenny Fisher, published Oct. 6, 2026, in ESG Today. Read the original: https://www.esgtoday.com/rezolv-energy-secures-630-million-to-build-the-eus-largest-onshore-renewable-energy-project/
This article was produced with the assistance of AI tools and reviewed by an editor before publication.
