Wind farm construction in Romania to be fully funded with €331 million provided by Rezolv Energy
Rezolv Energy, a renewable energy company backed by Actis, has announced that it has secured up to €331 million in additional project finance facilities for the second phase of its VIFOR wind farm project in Romania's Buzău County.
The new financing will support the construction of an additional 269 MW, bringing the project to its full 461 MW capacity. This phase is scheduled for commissioning in the fourth quarter of 2027.
The financing consortium includes Erste Group, UniCredit Group, the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), Intesa Sanpaolo Group, OTP Bank, Raiffeisenlandesbank Niederösterreich-Wien, and the lenders that financed the first phase of the project. The EBRD specifically provided a €44 million loan as part of this financing.
The VIFOR project, once completed, will be the largest wind farm built in Romania in the last decade. It is anticipated to stimulate economic development in Buzău County and generate hundreds of local jobs.
Phase 1 of the VIFOR project is currently under construction and will install 192 MW using 30 wind turbines of 6.4MW each. It is expected to become operational by spring 2026. The second phase, scheduled for commissioning in the fourth quarter of 2027, will add 42 turbines.
The lenders have recognised Rezolv Energy's alignment with international environmental and social sustainability standards, including the IFC's Performance Standards, the Equator Principles, and the EBRD's Performance Requirements.
Upon completion, the 461 MW facility will produce enough electricity to power more than 700,000 households annually. Rezolv Energy has pledged to support community initiatives in the region to ensure long-term local benefits.
The VIFOR wind farm, upon completion, will also be one of the largest onshore wind farms in Europe. The financing was arranged through Rezolv's local project subsidiary, First Look Solutions.
[1] Rezolv Energy Secures Funding for VIFOR Wind Farm Expansion
[2] Rezolv Energy Secures €331 Million in Financing for VIFOR Wind Farm
[3] Rezolv Energy Secures Funding for VIFOR Wind Farm Expansion
[4] EBRD to Provide €44 Million Loan for VIFOR Wind Farm
- The renewable energy industry has seen significant investment in Romania, with Rezolv Energy securing €331 million from a financing consortium for the second phase of its VIFOR wind farm project.
- The financing of VIFOR wind farm, arranged through Rezolv's local project subsidiary, First Look Solutions, will support the construction of additional 269 MW, bringing the project to its full 461 MW capacity in the renewable energy business.
- As the renewable energy industry continues to grow, Rezolv Energy's VIFOR wind farm project, with its largest contribution in a decade, is expected to stimulate economic development, generate local jobs, and produce enough electricity to power over 700,000 households annually.
