In Romania, Rezolv Energy’s portfolio exceeds 2 GW of onshore wind and solar projects – grouped into three large-scale projects. „The next important moment will take place in about three months, when we will put into operation the first phase of the VIFOR wind farm in Buzău County. We are also moving towards the construction phase with the other two projects in Romania, which are even larger: the 600 MW Dunărea East & West wind farms in Constanța County and the 1,044 MW Dama Solar solar project in Arad County, which will become the largest solar farm in Europe, once operational,” says Alastair Hammond, CEO of Rezolv Energy, in an exclusive interview with Energynomics.
What are your main pipeline of projects for 2026? What are your projects in Romania built so far and under construction? What are your plans for 2026 and the medium to long term? How about storage?
Our initial priority for 2026 was to commission the first project from Rezolv’s 2.3 GW portfolio in Southeastern Europe: the 225 MW St. George solar park in Silistra, Bulgaria, which is in the northeast of the country, right on the Romanian border. The project was officially opened in early May. It was an important milestone for Rezolv because it represented our transition from builders to long-term operators of critical clean energy infrastructure.
Built on the site of the former Silistra airport, the project demonstrates how large-scale renewable energy projects can create both environmental and economic value by repurposing under-utilised land. It is an investment of approximately $300 million and was delivered at speed, reaching full operational status in under three years from our acquisition of the development rights. The project will generate around 313 GWh of electricity annually, making a significant contribution to Bulgaria’s energy security and decarbonisation goals.
St. George also includes a 90 MW / 240 MWh battery energy storage system, supported by the European Union’s NextGenerationEU programme. Storage is becoming increasingly important as renewables capacity grows, helping improve grid flexibility and ensuring clean power can be deployed when demand is highest.
In Romania, our portfolio totals more than 2 GW of onshore wind and solar – in three very large-scale projects. The next major milestone will come in about three months’ time, when we commission the first phase of the VIFOR wind farm in Buzău County. VIFOR is one of Europe’s largest onshore wind projects. The first phase will install 192 MW through 30 high-capacity turbines and will include the first new 400 kV substation to be built in Romania in recent years. Construction of Phase 2, which will add a further 269 MW, is already well underway, with commissioning expected in the middle of next year.
We are also progressing towards the construction phase with the other two projects in Romania, which are even bigger: the 600 MW Dunărea East & West wind farms in Constanța County and the 1,044 MW Dama Solar project in Arad County, which will be the largest solar park anywhere in Europe once it is operational. We are currently working through major financing and procurement processes for both projects. Commercial operations are expected in 2028.
Storage will also play an increasingly important role across our Romanian portfolio. Our intention is ultimately to integrate battery energy storage systems into all our projects, as we have done at St. George. Dama Solar, in particular, is expected to host one of the largest storage systems in Romania.
How much do you intend to invest in 2026 and in future? How much of this could go into Romanian projects?
Rezolv’s 2.3 GW portfolio will require total investment of approximately €2.3 billion and will create more than 1,200 direct jobs. The majority of this investment will be in Romania.
Our investment is not limited to building energy infrastructure. We believe that the energy transition must deliver long-term benefits for the local communities where our projects are built. In 2025 alone, Rezolv invested more than €400,000 in community and impact programmes.
One important example is the Rezolv Energy Skills Academy, which we launched together with RenewAcad in Buzău, near the site of our VIFOR wind project, last year. The programme created the region’s first dedicated renewable energy training centre. Initially, Rezolv funded 100 free training places for local residents. Since then, we have expanded the programme with an additional 100 places and widened eligibility to include neighbouring counties including Prahova, Brașov, Vrancea, Galați, Brăila and Ialomița. Our ambition is to train between 300 and 500 people across Romania and Bulgaria this year.
This is only one of the initiatives we are running as part of our broader sustainability strategy for Romania. That strategy aligns with internationally recognised frameworks including the IFC Performance Standards, the EBRD Performance Requirements and the Equator Principles. It has helped us build strong relationships with lenders, corporate PPA customers, policy-makers, regulators and local communities.
What has been the evolution and development trend of the renewables market in 2026 and what are the prospects for the medium-term?
Across Europe, the macroeconomic environment remains challenging. It was the primary reason that there was a slowdown in the corporate PPA market last year, with disclosed contracted capacity across Europe declining from 15.3 GW to 13.1 GW. It is clear that some companies have delayed procurement decisions as a result of wider economic uncertainty.
This matters because corporate PPAs have played an important role in financing new renewable projects, including in Romania. The first phase of the VIFOR wind farm was financed with corporate PPAs. Altogether, Rezolv has now signed six major PPAs covering more than 350 GWh per year, from companies including T-Mobile, Bekaert and Etem Gestamp. Through those deals, these companies have invested in Romania’s energy transition and they have helped Romania become one of the leading PPA markets in Central and Eastern Europe – behind only Poland and Greece.
Despite the macroeconomic headwinds, I remain optimistic about the medium-term outlook. Very few major companies have stepped back from their 2030 climate commitments over the last 12 months, and as that deadline approaches, corporates will increasingly need access to large volumes of renewable electricity. Romania remains attractive because it is a country where international companies can procure significant volumes of clean power while also investing in iconic renewable energy projects.
Government support mechanisms are also playing an important role in driving the growth of renewables. Romania’s Contracts for Difference (CfD) programme has been particularly significant, with 4.5 GW of capacity supported by the three auction rounds. Rezolv was successful in the first two auctions and was the single largest beneficiary overall, securing almost 1 GW of capacity from our three Romanian projects. The second auction, where Rezolv was awarded three CfDs covering 731 MW of capacity from Dama Solar and the Dunarea East wind farm, was especially important because it demonstrated Romania’s willingness to support very large-scale projects.
A final reason why I think the momentum will be maintained behind the energy transition is that Romania still has work to do to reach its 2030 renewable energy target. The country is now more than 70% of the way there, which is great progress, but we need to keep going.
What are the main barriers to the rapid development of the renewable industry in Romania? How can they be fixed?
Romania retains some important long-term advantages in Central and Eastern Europe. First, geography matters. Very large renewable projects like those we are building require big, flat sites with exceptional natural wind and solar resources. We also need grid access. So far, more of those opportunities – and the biggest opportunities – have presented themselves in Romania.
Romania’s significant head-start on wind energy is also an advantage. Wind contributed around 12% of Romania’s electricity generation capacity last year, compared with only around 3.5% in Bulgaria. That gap matters because wind will play an increasingly important role in balancing solar generation across the region.
Overall, I believe Romania is well positioned to remain one of the most dynamic renewable energy markets in the region, However,
I would highlight three main challenges.
The first is the corporate PPA market. I have already mentioned the slowdown in the European PPA market last year, but the local market in Romania has not developed as quickly as many of us had hoped a few years ago. Rezolv recently signed the first publicly-announced cross-border wind PPA in Bulgaria, supplying electricity from our VIFOR wind farm to Etem Gestamp. That agreement demonstrated that there is demand from local companies for renewable electricity, but Etem Gestamp has taken a leadership role in this area and has been innovative in its approach to clean power procurement. Other local companies have found it more difficult to commit to long-term energy contracts as it is something they have never done before. I understand that – but it means that there is a big educational job still to do.
The second challenge is grid infrastructure. Across Europe, grid capacity is becoming a constraint on the deployment of renewables at scale, and Romania is no exception. Storage will help improve the situation, but it cannot replace long-term investment in transmission and distribution networks.
Finally, none of us in the sector should ever take for granted the support of local communities for renewable energy projects near their homes. The energy transition must deliver visible benefits for local people or we risk losing their backing – which would be a fundamental barrier to the further development of our industry. At Rezolv, we have placed a strong emphasis on engaging with local communities, co-creating opportunities that align with local values and addressing challenges collaboratively to improve people’s lives.
Environmental stewardship is also increasingly important for securing the support of local people. As an example, Dama Solar will include an 82-hectare on-site nature reserve, one of Southeastern Europe’s first and largest private-led nature restoration projects linked to a solar park.
Projects that combine clean energy generation with biodiversity protection and local economic development will ultimately be the most successful – and will help ensure that the speed of renewables growth in Romania is maintained.
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The interview first appeared in the printed edition of Energynomics Magazine in early June 2026.
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