Rezolv Energy has successfully secured up to €331 million in project financing to support the construction of the second phase of its VIFOR wind farm in Buzău County, Romania. This funding will help expand the wind farm’s capacity from the current 192 megawatts (MW) to a total of 461 MW upon completion.
The financing primarily comes from established lenders who supported the first phase, including Erste Group and UniCredit Group, along with the European Bank for Reconstruction and Development, the International Finance Corporation (IFC), Intesa Sanpaolo Group, OTP Bank, and Raiffeisenlandesbank Niederösterreich-Wien.
The first phase of VIFOR, currently under construction, consists of 30 turbines, each with a capacity of 6.4 MW, and is expected to be operational by spring 2026. The second phase will introduce an additional 42 turbines, which are scheduled to be commissioned by the fourth quarter of 2027. Once fully operational, the VIFOR wind farm will provide enough electricity to power more than 700,000 homes, marking it as the largest wind farm developed in Romania in the last decade and among the largest onshore wind farms in Europe.
The banks involved in the financing noted Rezolv Energy’s dedication to sustainability, adhering to international standards such as the IFC’s Performance Standards on Environmental and Social Sustainability and the Equator Principles.
In addition to its environmental contributions, the VIFOR project is expected to create hundreds of jobs and deliver significant economic benefits to the local community in Buzău County, including support for various community initiatives.
Alastair Hammond, CEO of Rezolv Energy, expressed satisfaction with the funding, stating that it allows the company to advance seamlessly from Phase 1 to Phase 2 of the project. Jaroslava Korpanec, a partner at Actis, emphasized the importance of the VIFOR project in providing clean energy solutions for Europe.
Founded in 2022 by Actis, a global investor focused on sustainable infrastructure, Rezolv Energy manages a portfolio of 2.3 gigawatts (GW) of large-scale wind and solar projects across Southeastern Europe. In addition to the VIFOR wind farm, Rezolv is developing the Dama Solar project in western Romania, which will be the largest solar plant in Europe upon completion, along with other projects such as the 600 MW Dunarea East & West Wind Farms in Constanța County and the 225 MW St. George solar project in northeastern Bulgaria.
