Rezolv Energy, an Actis-backed independent renewable energy producer, has signed a financing package of up to €561 million ($637 million) for its 1.3 GW Dama Solar project in western Romania.

The financing will support the project as it moves into construction. Commercial operations are expected in the second half of 2028. Dama Solar is expected to generate approximately 1,800 GWh of electricity annually once operational.

The financing is underpinned by an anchor investment from the European Investment Bank, supported by an InvestEU guarantee. A consortium of 14 lenders is providing the financing, including 10 commercial banks: Erste Group, UniCredit Bank Romania, Intesa Sanpaolo Bank Romania, Societe Generale, OTP Bank Magyarország, CSOB, Raiffeisen Bank, Raiffeisenlandesbank Niederösterreich Wien, Piraeus, and Siemens Bank. The European Bank for Reconstruction and Development, International Finance Corporation, and Black Sea Trade and Development Bank are also participating as development finance institutions.

Alastair Hammond, CEO at Rezolv Energy, said: “Securing financing of this scale from 14 lenders is a major achievement and will allow us to move directly into construction. We are grateful to our financing partners for their continued confidence in Rezolv Energy and in this iconic project. It will make an important contribution to Romania’s energy transition and its long-term energy security.”

Rezolv Energy structured the financing as a green loan under the 2025 Green Loan Principles. According to the company, Moody’s Ratings assigned the financing a Sustainability Quality Score of SQS1, its highest possible score. JP Morgan acted as debt structuring advisor and CMS as legal counsel to Rezolv Energy, while White & Case served as legal advisor to the lenders.

The financing is supported by two Contracts for Difference awarded to Dama Solar in Romania’s second Contracts for Difference auction. The contracts cover 520 MW of the project’s capacity. The project also has a corporate power purchase agreement with an unnamed offtaker.

Announced large-scale solar project funding increased by 71% in the first half of 2026 compared with the funding raised in the same period in 2025, according to Mercom’s 1H and Q2 2026 Solar Funding and M&A report.