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Rezolv Energy secures 731MW in Romania’s public-backed renewables auction

Rezolv Energy won three contracts for difference totalling 731MW in Romania’s second auction, supported by public financing mechanisms for renewable energy.

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Rezolv Energy secured three contracts for difference (CfD) representing a total capacity of 731MW in Romania’s second government-run auction aimed at supporting renewable energy development. The results strengthen the developer’s position in Southeastern Europe and highlight the authorities’ intention to promote large-scale projects.

Solar and wind projects selected

Two of the contracts were awarded to West Power Investments, the project company responsible for the 1,044MW Dama Solar photovoltaic park in Arad County. Once operational, the site is expected to become Europe’s largest solar power plant by installed capacity. The third contract was awarded to Midmar Callatis for the 300MW Dunarea East wind project in Constanța County.

An extension to the latter site, named Dunarea West, is also planned and will further expand the wind infrastructure in the same area.

Continued public support for Rezolv’s expansion
These new awards follow the 240MW already secured by Rezolv Energy during Romania’s first CfD auction, through the VIFOR wind farm in Buzău County. The developer recently began installing the first turbines at this site and signed additional project financing facilities of up to €331mn ($360.2mn) to support the construction of the second phase, which will add 269MW of capacity.

Rezolv’s regional portfolio grows

Founded in 2022 by UK-based fund Actis, Rezolv Energy holds a 2.3GW portfolio of large-scale wind and solar projects in Southeastern Europe. Other ongoing developments include the 225MW St George solar power plant currently under construction in Bulgaria.

Rezolv’s Chief Executive Officer Alastair Hammond welcomed the Romanian government’s decision to increase the available capacity in the second auction, noting the design of eligibility criteria to support large-scale projects. According to him, these CfDs will allow the company to move quickly into the construction phase.

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