Romania has secured up to €561 million of financing for the 1.3 GWp Dama Solar project, enabling construction of one of Europe’s largest onshore renewable developments. Developer Rezolv Energy said the syndicated package clears the way for the project to move forward.
Syndicated financing structure and lender participation
The financing is structured as a syndication involving 14 lenders, with the European Investment Bank acting as an anchor investor. Rezolv Energy said the funding arrangement supports the development of the solar asset in Romania.
Revenue model combining CfD-backed capacity and corporate PPA
Dama Solar combines multiple revenue streams to cover different portions of output. Around 520 MW is backed by Romanian contracts for difference, while additional generation is supported through a corporate power-purchase agreement. The arrangement is designed to reduce reliance on a single support mechanism and provide lenders with visibility over future cash flow.
Expected output, commissioning timeline, and system impacts
Dama Solar is expected to produce around 1.8 TWh annually. The project is scheduled to enter commercial operation in the second half of 2028. At 1.3 GWp, it is large enough to influence Romania’s electricity balance, especially during solar-heavy daytime periods.
The scale of the project is also expected to increase pressure on grid infrastructure and storage. Romania already experiences periods when photovoltaic generation pushes wholesale prices sharply lower before evening scarcity lifts them again. A project of this size could intensify that pattern unless storage, flexible demand, and transmission capacity expand alongside new generation.
From bankability milestone to execution focus
The financing package represents a bankability milestone for the development. Romania has shown that utility-scale renewables can attract major institutional debt when state-backed CfDs are combined with private-sector offtake. The next phase shifts from securing funding to delivering 1.3 GW into a power system where grid access and hourly price cannibalisation are becoming as important as solar panel costs.
