PVTIME – The European Investment Bank (EIB) has provided a €100 million loan to support the Dama Solar project, a large-scale ground-mounted photovoltaic installation being developed by independent renewable energy company Rezolv Energy in western Romania. One of the biggest single-site solar developments in Central and Eastern Europe to date, the facility is situated in Arad County and will deliver substantial volumes of zero-carbon power once fully commissioned.
The financing is a key part of the project’s total debt package of EUR 561 million, which was assembled to fund the construction and early-stage operational costs of Dama Solar. Developed via the local special-purpose entity West Power Investments, the 1.3 GWp solar plant is a cornerstone asset in Rezolv Energy’s broader renewable energy portfolio in Romania and neighbouring Bulgaria.
Upon completion, Dama Solar will supply low-cost solar electricity to Romania’s national power grid. This will ease the strain on domestic generation capacity and help the nation to hit its binding EU renewable energy targets. Large-scale solar projects of this magnitude help Central and Eastern European economies to diversify power mixes that have historically relied on fossil fuels and ageing coal-fired infrastructure.
The EIB’s support signals the EU institution’s ongoing commitment to providing capital for clean energy projects in cohesion regions. Access to long-term public bank debt reduces overall project risk, enabling private developers to progress large-scale solar projects from the planning phase to construction. The project design also includes local socioeconomic benefits, such as supply-chain engagement for regional contractors and safeguards for nearby ecological zones.
Construction activities are set to ramp up in the coming months. Full commercial operation is scheduled in phases over the next two years.
 has provided a €100 million loan to support the Dama Solar project, a large-scale ground-mounted photovoltaic installation being developed by independent renewable energy…){kind=link}