Romania has secured up to €561 million of financing for the 1.3 GWp Dama Solar project, clearing the way for construction of one of Europe’s largest onshore renewable developments.
Developer Rezolv Energy said the syndicated financing involves 14 lenders, with the European Investment Bank acting as an anchor investor.
The project combines several revenue structures. Around 520 MW is backed by Romanian contracts for difference, while additional output is covered by a corporate power-purchase agreement.
That mix is important because it reduces dependence on a single support mechanism and gives lenders greater visibility over future cash flow.
Dama Solar is expected to generate around 1.8 TWh annually and enter commercial operation in the second half of 2028.
At 1.3 GWp, the project is large enough to influence Romania’s electricity balance, particularly during solar-heavy daytime periods.
It will also 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 Dama’s scale could intensify that pattern unless storage, flexible demand and transmission capacity expand in parallel.
The financing package nevertheless marks a significant bankability milestone.
Romania is increasingly showing that utility-scale renewables can attract major institutional debt when state-backed CfDs are combined with private-sector offtake.
The challenge now moves from financing to execution – delivering 1.3 GW into a power system where grid access and hourly price cannibalisation are becoming as important as the cost of solar panels.
