Actis-backed Rezolv Energy, through its project subsidiary West Power Investments, has procured a project financing package of up to €561 million ($636 million) for Dama Solar, a 1.3-gigawatt solar project in western Romania. The financing will propel the solar project into the construction phase.
After it becomes operational, Dama Solar will be the largest onshore renewable energy project in the European Union. The project is expected to generate 1,800 gigawatt-hours of renewable electricity annually, equivalent to around 36 percent of Romania’s total solar electricity generation in 2025.
The financing, which was underpinned by an anchor investment by the European Investment Bank, marks 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 — which was 14. The group consisted of 10 commercial banks — Erste Group Bank, UniCredit Bank, Banca Comercială Intesa Sa
