The European Investment Bank (EIB) has agreed to provide €100 million ($113 million) in debt financing to support the construction of Dama Solar, a 1.3 GWp utility-scale solar project in western Romania developed by Rezolv Energy.
The total investment for the project is estimated at €728 million. Once operational, the facility will generate clean electricity equivalent to the annual power requirements of more than 280,000 households, or roughly one million people, connecting directly to Romania’s high-voltage national grid.
Located in Arad County—a designated EU cohesion region—the construction phase is projected to generate a peak workforce of over 1,500 jobs across the next three years.
Alongside clean power generation, the project incorporates an 82-hectare nature restoration zone on lower-quality agricultural land, returning areas to pasture managed by livestock to restore degraded steppe grassland and protect local bird species.
Commercial structuring for the plant includes two 15-year Contracts for Difference (CfD) covering 520 MW of capacity, with the remaining power output to be sold on the open market and through corporate power purchase agreements (PPAs) to industrial customers.
EIB Vice-President Ioannis Tsakiris stated that the installation expands Romania’s domestic renewable capacity while advancing regional economic development and national energy security.
Jan Viton, Head of Financing at Rezolv Energy, noted that the EIB’s anchor commitment, supported by the InvestEU program, was crucial in securing the broader commercial debt package on an accelerated timeline.
