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The European Investment Bank is providing $113 million to finance Dama Solar, a 1.3 GWp solar development set to become one of Europe’s largest photovoltaic plants. Rezolv Energy is developing […]
The post EIB Backs Romania’s 1.3 GW Dama Solar With $113 Million Financing appeared first on ESG News.
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EIB Backs Romania’s 1.3 GW Dama Solar With $113 Million Financing – ESG News
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EIB Backs Romania’s 1.3 GW Dama Solar With $113 Million Financing
Climate Finance
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EIB Backs Romania’s 1.3 GW Dama Solar With $113 Million Financing
by ESG News Editorial Team
•
October 1, 2026
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The European Investment Bank is providing $113 million for the 1.3 GWp Dama Solar project, part of an estimated $822 million investment in western Romania.
The plant is expected to generate enough electricity for more than 280,000 households, equivalent to close to one million people.
The development will support more than 1,500 jobs at peak construction and include an 82-hectare nature restoration area.
The European Investment Bank is providing $113 million to finance Dama Solar, a 1.3 GWp solar development set to become one of Europe’s largest photovoltaic plants.
Rezolv Energy is developing the $822 million project in western Romania. Once operational, Dama Solar could generate enough electricity each year to supply more than 280,000 households, equivalent to close to one million people.
The plant will connect directly to Romania’s high-voltage electricity network. Its scale will add substantial renewable generation capacity to the national grid as Romania seeks to strengthen domestic energy supply and reduce greenhouse gas emissions.
“Europe needs more clean energy, and it needs it at scale. Dama Solar will add a major new source of renewable electricity to Romania’s energy system while bringing investment and jobs to the region,” said EIB Vice-President Ioannis Tsakiris. “It is a good example of how European investment can support energy security, climate action and regional development together.”
EIB Vice-President Ioannis Tsakiris
European capital targets energy security
The EIB financing forms part of a broader funding package for the project and is supported by InvestEU. For Romania, the investment combines energy security objectives with the EU’s push to accelerate renewable deployment and direct capital towards less-developed regions.
Dama Solar sits in Arad County, one of Romania’s cohesion regions. The project could employ around 1,500 people at peak construction over the next three years. In addition, construction and supply-chain activity should support the wider regional economy.
“We are extremely pleased to reach the financing milestone on this landmark project. The EIB team have done a fantastic job working with our other relationship lenders to deliver this transaction on an extremely aggressive timetable. EIB’s anchor ticket supported by Invest EU has played a crucial role in underpinning the wider financing package,” said, Head of Financing at Rezolv Energy Jan Viton.
The financing structure also illustrates the role of public-sector lenders in mobilising capital for utility-scale renewable infrastructure. Large projects increasingly require a mix of institutional financing and long-term revenue arrangements to manage development and power-price risk.
RELATED ARTICLE: EIB Invests $46 Million in Modular Nuclear
Long-term contracts support revenue certainty
Dama Solar has secured two 15-year Contracts for Difference covering 520 MW of its planned capacity.
Rezolv Energy plans to sell the remaining electricity into the market and supply commercial and industrial customers through long-term agreements. As a result, the project can diversify its revenue sources while giving businesses greater access to renewable electricity.
For corporate energy buyers, large developments such as Dama Solar can expand the pool of renewable generation available for long-term procurement. This is particularly relevant for companies seeking to reduce Scope 2 emissions and manage exposure to energy-price volatility.
Solar development paired with nature restoration
The project also includes an 82-hectare area dedicated to nature restoration.
Lower-quality agricultural land will be returned to pasture, while sheep will be used to manage vegetation. The restoration programme is intended to rehabilitate degraded steppe grassland and create habitat for wildlife and protected bird species.
The approach places biodiversity alongside energy generation within the project’s environmental strategy, an increasingly important consideration for investors assessing the wider impacts of renewable infrastructure.
For Romania, Dama Solar brings together several policy priorities: additional domestic generation, lower-carbon electricity, regional investment and employment.
At 1.3 GWp, its scale also makes the project relevant beyond the Romanian market. Europe’s energy transition will require substantial additions of renewable capacity alongside grid investment and long-term financing. Dama Solar shows how EU-backed capital, private development and contracted revenues can be combined to bring projects of that scale into the European power system.
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Topics
Dama Solar project
EIB
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Ioannis Tsakiris
Jan Viton
Romania
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