Rezolv Energy has locked €561 million (USD$630 million) in project financing to break ground on its 1.3GW Dama Solar plant in Romania — a build the company positions as the EU's largest onshore renewable energy project.

The package is the largest Rezolv has signed to date, both in deal size and lender count. With funding closed, the developer moves directly into construction. Engineering, procurement and construction (EPC) partners will be confirmed shortly, and commercial operations are scheduled for the second half of 2028.

The project spans more than 1,000 hectares and is designed to deliver around 1,800 GWh of clean electricity annually. A peak workforce of about 1,500 people is forecast during the construction phase.

How does the financing stack break down?

The European Investment Bank (EIB) anchored the €561 million facility under an InvestEU guarantee. Three development finance institutions (DFIs) and ten commercial banks joined as co-lenders, taking the total syndicate to 14.

DFIs:

• European Bank for Reconstruction and Development (EBRD)
• International Finance Corporation (IFC)
• Black Sea Trade and Development Bank (BSTDB)

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
• Siemens Bank

Rezolv called the depth of the syndicate the broadest it has assembled. "Securing financing of this scale from 14 lenders is a major achievement and will allow us to move directly into construction," CEO Alastair Hammond said. "We are grateful to our financing partners for their continued confidence in Rezolv Energy and in this iconic project. It will make an important contribution to Romania's energy transition and its long-term energy security."

What revenue contracts sit behind the debt?

Two Contracts for Difference (CfDs) awarded to Dama Solar in Romania's second CfD auction cover 520MW of the project's 1.3GW nameplate capacity. A separate corporate Power Purchase Agreement (PPA) with a premium offtaker underpins the remainder of expected output.

How much biodiversity sits inside the footprint?

The site plan includes an 82-hectare nature reserve, which Rezolv describes as one of the largest private-led nature restoration projects associated with a solar development in Southeastern Europe. The reservation runs alongside, not in place of, the photovoltaic arrays across the wider 1,000-hectare site.

What milestones decide the next 24 months?

• EPC partner appointment — imminent
• Construction mobilisation — under way following financial close
• Commercial operation date — H2 2028

Why does the build matter beyond Romania?

Dama Solar pushes a single Romanian site into the front rank of EU-scale solar developments. Execution will turn on EPC partner selection, grid interconnection timing, and any changes to Romania's renewable support framework before the project's commercial operations date in H2 2028.

The 82-hectare nature reserve layered into a 1,000-hectare solar footprint also positions the project among the larger private-led biodiversity set-asides attached to a Southeastern European PV development, according to the company — a delivery test for co-located conservation at gigawatt scale.