Rezolv Energy, the Actis-backed independent renewable power producer, has signed a financing package of up to €561 million ($637 million) for its 1.3 GW Dama Solar project in western Romania, Mercom Capital reported October 6. The financing moves the project into construction, with commercial operations expected in the second half of 2028 and annual generation of about 1,800 GWh once operational.
The financing is anchored by the European Investment Bank, supported by an InvestEU guarantee, within a consortium of 14 lenders including 10 commercial banks: Erste Group, UniCredit Bank Romania, Intesa Sanpaolo Bank Romania, Societe Generale, OTP Bank Magyarország, CSOB, Raiffeisen Bank, Raiffeisenlandesbank Niederösterreich Wien, Piraeus and Siemens Bank. The European Bank for Reconstruction and Development, the International Finance Corporation and the Black Sea Trade and Development Bank participate as development finance institutions.
The facility is structured as a green loan under the 2025 Green Loan Principles and carries Moody’s Sustainability Quality Score of SQS1, its highest rating. JP Morgan acted as debt structuring advisor and CMS as counsel to Rezolv, with White & Case advising the lenders. The project is supported by two Contracts for Difference from Romania’s second CfD auction covering 520 MW of capacity, plus a corporate power purchase agreement with an unnamed offtaker.