Energy developer Rezolv secures €561 million loan for EU's largest solar park in Romania

By Reuters News

BUCHAREST, Sept 30 (Reuters) - Renewable energy developer Rezolv Energy, backed by British sustainable infrastructure investor Actis, said on Wednesday it secured a €561 million ($637 million) green loan from a 14-lender consortium to build the EU’s largest onshore solar park in Romania.

  • The loan is underpinned by an anchor investment by the European Investment Bank, benefiting from an Invest EU guarantee.

  • The consortium brings together commercial banks including Erste Group ERST.VI, UniCredit CRDI.MI, Societe Generale SOGN.PA and Raiffeisen Bank RBIV.VI, as well as the European Bank for Reconstruction and Development, International Finance Corporation and Black Sea Trade and Development Bank (BSTDB).

  • Rezolv said the loan will help fund building works on its Dama Solar project in the western Romanian county of Arad, which will be one of Europe's largest solar developments and the biggest in the European Union when it is completed in 2028.

  • Dama Solar was also awarded two Contracts for Difference (CfDs) by the Romanian government last year. The grants are part of a low-carbon energy-support scheme paid for with EU funds, based on CfD, which set the power price at an agreed level for 15 years.

  • Rezolv Energy has a 2.3 GW portfolio that spans solar and wind assets in Romania and Bulgaria that are operating, under construction or in late-stage financing.

($1 = 0.8805 euros)

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