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 developments. Developer Rezolv Energy said the financing supports the project through a syndicated structure. The package is designed to fund development steps ahead of build-out.
Syndicated debt and lender structure
Rezolv Energy said the syndicated financing involves 14 lenders, with the European Investment Bank acting as an anchor investor. The financing arrangement is linked to the project’s revenue design and contracting approach.
Revenue mix: CfDs and corporate power purchase agreement
The Dama Solar project combines multiple revenue structures. Around 520 MW is backed by Romanian contracts for difference, while additional generation is covered by a corporate power-purchase agreement. This setup is intended to reduce reliance on a single support mechanism for cash flows.
Dama Solar is expected to generate around 1.8 TWh annually. Commercial operation is scheduled for the second half of 2028.
Power system impacts from large-scale solar output
At 1.3 GWp, Dama Solar is large enough to affect Romania’s electricity balance, particularly during solar-heavy daytime periods. The project is also expected to increase pressure on grid infrastructure and storage requirements. Romania already experiences periods when photovoltaic output pushes wholesale prices sharply lower before evening scarcity lifts them again.
The scale of the development could intensify that price pattern unless storage, flexible demand and transmission capacity expand alongside new generation. The financing package was described as a bankability milestone, shifting the focus toward execution and delivery of 1.3 GW.
The financing also reflects how utility-scale renewables can attract major institutional debt when state-backed CfDs are paired with private-sector offtake arrangements. The next phase centers on integrating the project into a power system where grid access and hourly price cannibalisation are becoming key considerations alongside solar costs.
