Rezolv Energy, through its project subsidiary First Look Solutions S.R.L., has signed incremental project finance facilities of up to €331 million to support construction of the 269MW second phase of its VIFOR wind farm in Buzău County, Romania. Phase 2 will take the project to its full 461MW capacity.
Financing of the second phase is largely supported by lenders from the first phase, including Erste Group and UniCredit Group, together with the European Bank for Reconstruction and Development, the International Finance Corporation (IFC), Intesa Sanpaolo Group and OTP Bank, joined by Raiffeisenlandesbank Niederösterreich-Wien.
VIFOR Phase 2 follows the first phase of the project, which is currently under construction. Phase 1 will install 192MW in capacity – 30 turbines of 6.4MW each – and is scheduled to be operational by the spring of 2026. Phase 2, which will be commissioned in Q4 2027, will add 42 turbines, increasing the overall project capacity to 461MW – enough electricity to power more than 700,000 homes.
Once fully operational, VIFOR will become the largest wind farm built in Romania over the last 10 years, and one of the largest onshore wind farms in Europe.
Alastair Hammond, CEO, Rezolv Energy, said: “We are delighted to have sourced this significant additional funding from our trusted group of international lenders. With Phase 1 of the VIFOR project scheduled for completion by spring 2026, this financing allows us to move seamlessly into Phase 2 and take the project to its full capacity.”
Jaroslava Korpanec, Partner, Head of Central and Eastern Europe, Energy Infrastructure at Actis, said: “With VIFOR’s first phase well under construction, it’s fantastic to see such great progress on Phase 2 of the project. This second phase will add real, material scale to VIFOR and make it one of the largest onshore wind farms in Europe. VIFOR represents a key pillar of Rezolv Energy’s plan to deliver clean power for Europe.”
Rezolv Energy was launched in 2022 by Actis, a leading global investor in sustainable infrastructure, and has a 2.3GW portfolio of large-scale wind and solar projects in Southeastern Europe. As well as the VIFOR wind farm, projects include Dama Solar in western Romania which, at 1,044MW, will be the largest solar plant anywhere in Europe once it is built, the 600MW Dunarea East & West Wind Farms in Romania’s Constanța County, and St. George, a 225MW solar project which is currently under construction in north-eastern Bulgaria.
