Major EIB Investment Secures Funding for 1.3 GWp Dama Solar Project

The European Investment Bank (EIB) has committed €100 million to support the development of Dama Solar, a large-scale photovoltaic power plant located in Arad County, Romania. Spearheaded by independent renewable energy producer Rezolv Energy, the facility represents a total estimated investment of €728 million.

With a peak capacity of 1.3 GWp, the installation is set to become one of the largest solar infrastructure projects in Europe. It will integrate directly into the high-voltage national grid, generating sufficient renewable electricity to supply approximately 280,000 households, or nearly one million residents annually.

Key project metrics and operational details include:

• Financial Structure: The operation is underpinned by two 15-year Contracts for Difference covering 520 MW of capacity. The remaining electricity generation will be supplied to commercial and industrial consumers via long-term agreements and general market distribution.
• Economic Impact: Located within a designated cohesion region, the project is projected to create a peak workforce of 1,500 jobs during its three-year construction phase, generating additional downstream economic activity.
• Environmental Integration: The solar facility incorporates an 82-hectare zone dedicated to ecological restoration. This initiative will convert low-yield agricultural land into pasture managed by sheep grazing, rehabilitate degraded steppe grasslands, and establish protected habitats for local wildlife and bird species.

By scaling clean power generation, the Dama Solar plant contributes directly to regional grid stability and greenhouse gas reduction targets. The transaction aligns with broader European objectives regarding energy security, climate action, and sustainable infrastructure development in emerging economic zones.

Source: European Investment Bank