Romania’s 1.3 GW Dama Solar Secures €561 Million — EU’s Largest Solar Finance Package

A €561 million financing package has been assembled for Dama Solar, a 1.3 GW photovoltaic facility in Arad county, Romania, marking the largest single fundraise in developer Rezolv Energy’s history and, by installed capacity, the biggest solar park under construction in the European Union.

The European Investment Bank anchored the syndicate, which draws in commercial banks alongside multilateral development institutions. For Rezolv Energy, backed by investment firm Actis, the transaction dwarfs every prior financing the company has closed for wind and solar assets across Romania and Bulgaria — a combined portfolio now totalling 2.8 GW, of which Dama Solar alone accounts for nearly half.

The site will span more than 1,000 hectares in Arad county, with 82 hectares permanently set aside for natural reserve protection. All regulatory permits are in hand, construction is expected to begin shortly, and the plant is targeting commercial operations in the second half of 2028.

Revenue visibility underpins the financing structure: 520 MW secured contracts for difference through a Romanian state auction, while a separate private offtake deal — with a buyer whose name remains undisclosed — covers additional generation. The two instruments together give the project the bankable long-term cash flows needed to attract debt at this scale.

Actis said the transaction proves institutional capital’s readiness to finance large greenfield renewable projects in Romania. The green loan is the largest in Rezolv Energy’s track record, according to specialist publication PV-Tech.

Source: PV-Tech