Romania has secured up to €561 million in financing for the 1.3 GWp Dama Solar project, clearing the way for construction of one of Europe’s largest onshore renewable-energy developments.
Developer Rezolv Energy said the syndicated financing involves 14 lenders, with the European Investment Bank serving as an anchor investor.
The project combines several revenue and offtake structures. Around 520 MW is supported by Romanian contracts for difference, while additional output is covered by a corporate power-purchase agreement.
That combination is significant because it reduces reliance on a single support mechanism and provides lenders with greater visibility over future project cash flows.
Dama Solar is expected to generate around 1.8 TWh of electricity annually and enter commercial operation in the second half of 2028.
With a capacity of 1.3 GWp, the project will be large enough to have a noticeable impact on Romania’s electricity balance, particularly during periods of strong daytime solar generation.
It will also increase pressure on grid infrastructure and storage capacity.
Romania already experiences periods when high photovoltaic output pushes wholesale electricity prices sharply lower before evening demand and scarcity drive prices higher again.
A project of Dama Solar’s scale could reinforce that pattern unless storage, flexible demand and transmission capacity expand alongside new solar generation.
The financing package nevertheless represents a major bankability milestone for Romania’s renewable sector.
The country is increasingly demonstrating that utility-scale renewable projects can attract substantial institutional debt when state-backed CfDs are combined with private-sector offtake arrangements.
The challenge now shifts from financing to project execution — delivering 1.3 GW of new solar capacity into a power system where grid access, flexibility and hourly price cannibalisation are becoming almost as important as the cost of photovoltaic equipment.
