Rezolv Energy was launched 18 months ago by Actis, a leading global investor in sustainable infrastructure, and already has well over 2GW of renewable energy under construction, or being prepared for construction, in Romania and Bulgaria. Projects include Dama Solar in Arad County which, at 1,044MW, will be the largest solar plant anywhere in Europe once it is built, and the 600MW Dunarea East & West Wind Farms in Constanța County.

A third Rezolv project is the VIFOR wind farm in Buzău County. Once fully operational, VIFOR will be one of Europe’s largest onshore wind farms. Close to the Carpathian Mountains and benefiting from exceptional wind yields, the project will generate enough clean energy to power more than 270,000 homes. The project will support Romania in meeting its climate targets and will play an important role in the region’s energy transition.

In addition to the environmental benefits, VIFOR will create local jobs both during construction and operation, deliver economic benefits to the local community, and support community initiatives in Buzău County aimed at ensuring that the project leaves a lasting, positive legacy for local people.

On 13 June, Rezolv announced that it had secured finance loan facilities of up to €291 million to support the Phase 1 construction of the VIFOR wind farm. Phase 1 will install 192MW in capacity.

The consortium of eight lenders was led by Erste Group, UniCredit Group and the European Bank for Reconstruction and Development, as well as the International Finance Corporation (IFC), Intesa Sanpaolo Group, OTP Bank, Raiffeisen Bank International AG and Garanti BBVA Romania. This landmark transaction was the first financing for Rezolv.

In approving the loans, the banks acknowledged Rezolv’s commitment to sustainability, which has been built on industry best practice and aligns with international standards, including the Equator Principles and IFC’s Performance Standards on Environmental and Social Sustainability. One of its pillars is striving to ensure that each of its renewable energy plants supports flourishing and sustainable ecosystems.

Four days later, on 17 June, Rezolv announced that Vestas had been selected as the engineering, procurement and construction (EPC) partner for the first phase of VIFOR. Phase 1 will involve the installation of 30 EnVentus Vestas V162 wind turbines, each with a capacity of 6.4MW. The turbines have a tower height of 166 metres and a rotor diameter of 162 metres. This is Vestas’ largest ever order in Romania and, once installed, these will be the largest turbines in operation in Romania.

Vestas’ role as EPC partner will involve working alongside Rezolv and Low Carbon to implement the Environmental and Social Management Plan for the project.

On the same day, Rezolv broke ground at the project site alongside project partners and local community representatives.

The wind farm is scheduled to come onstream before the end of 2025. A planned expansion to 461MW will take place in Phase 2.