Rezolv Energy, an independent power producer launched in 2022 by British giant Actis, is targeting a portfolio of around 2 GW of wind and solar projects in Romania, which should become operational by 2028, including the Vifor wind farm in Buzău and the Dama solar project in Arad.
“Rezolv Energy started in 2022, with the support of Actis, one of the largest infrastructure funds for the energy transition. We have a portfolio of 2.3 GW, which are either in operation, under construction or in financing at the moment, of which 2 GW are in Romania, approximately 1 GW solar and 1 GW in wind,” said Alastair Hammond, CEO, Rezolv Energy, on Monday, February 23, at a ZF conference.
In a previous interview with Energynomics, Marian Pavel, General Manager of Rezolv Energy in Romania, provided details on the current state of development of Rezolv Energy projects and the factors that can accelerate the development of the onshore wind industry in the country.
“2026 will mark a shift in the scale of Romania’s onshore wind capacity, as new large-scale projects come on stream,” says Marian Pavel, General Manager Romania, Rezolv Energy – a renewable energy producer with a 2.3 gigawatt (GW) portfolio of large-scale wind and solar projects in Southeastern Europe. Three of Rezolv’s four projects are located in Romania: the 461 megawatt (MW) VIFOR wind farm in Buzău County, the 600 MW Dunărea East & West wind project in Constanța County, and the 1,044 MW Dama Solar project in Arad County. The VIFOR wind farm is currently under construction, and the Danube East & West and Dama Solar projects will enter the construction phase in 2026.
“Romania’s progress in wind energy is viewed from different perspectives. By the end of 2024, just over 12% of the country’s electricity came from wind sources. If we look at things pessimistically, the European Union average is 17.5%, and three Central and Eastern European countries – Lithuania, Estonia and Greece – have already exceeded this threshold.
“However, I prefer a positive perspective. Romania is much more advanced in wind energy than most countries in the region. Take, for example, the Czech Republic, where Rezolv is headquartered: there, wind energy contributes less than 1% to total electricity production. Or Bulgaria, where Rezolv is transforming a former disused airfield in the northeast of the country, close to the Romanian border, into the St. George, 225 MW. Bulgaria has made remarkable progress in solar energy, adding almost 1 GW last year and exceeding the European average in solar production for the first time. However, no new wind project has been commissioned in Bulgaria for more than a decade,” Marian Pavel told us.
He claims that 2026 will mark a change of scale in Romania’s onshore wind capacity, as new large-scale projects come into operation. One example is the VIFOR wind farm in Buzău County. The installation of the 30 turbines of the first phase – with a capacity of 192 MW – is already in full swing. Each turbine can generate 6.4 MW, the highest installed power of any turbine in Romania. The new 400 kV transformer station – the first built in Romania in recent years – is also progressing very well.
Phase 1 is scheduled to become operational in spring 2026. Construction of Phase 2 – which will add another 42 turbines, totaling 269 MW – has already started, and commissioning is expected in the summer of 2027.
The larger of our two wind projects in Romania – Danube East & West in Constanța County – will enter construction next year, so it’s not far behind.
“Rezolv signed five cross-border virtual power purchase agreements (PPAs) in Romania before the launch of the first Contracts for Difference (CfD) auction – so these came first for us. The five contracts were signed with companies such as T-Mobile Czech Republic, Slovak Telekom and Bekaert, all with a duration of between 7 and 12 years. Together, they cover 350 GWh of wind energy per year – more capacity than any other developer in South-Eastern Europe has signed.
“These PPAs were essential for obtaining the financing package for VIFOR Phase 1 – worth 291 million euros, granted by a consortium of eight financial institutions: Erste Group, UniCredit Group, EBRD, IFC, Intesa Sanpaolo Group, OTP Bank, Raiffeisen Bank International and Garanti BBVA Romania. Our success in the first CfD auction, in December 2024 – when we obtained a CfD covering 240 MW of the energy capacity of the VIFOR park, having the lowest wind offer – represented another important moment for the project. Subsequently, in July this year, we closed the financing for Phase 2, signing additional financing facilities of up to 331 million euros with a similar group of banks.
“In the second CfD auction, we were designated winners for three contracts, totaling 731.2 MW of the capacity of the Dama Solar and Dunărea East projects. Once again, our bid for Danube East was the most competitive in the wind category. We are on track to close the financing of both projects in the first half of 2026, and CfDs will once again play an important role.
“The Romanian government deserves credit for the way it has advanced the three rounds of CfD tenders so far. The second round in particular has allocated the largest capacity, and the eligibility rules have been designed to support large-scale projects. This has underlined the essential role that large wind and solar farms will play in Romania’s energy transition – both environmentally and economically,” said Marian Pavel, in an exclusive interview with Energynomics.
