Rezolv Energy and Low Carbon secure €291 million financing for VIFOR wind farm

Rezolv Energy and Low Carbon, through their subsidiary First Looks Solutions S.R.L., have secured loans of up to €291 million for Phase 1 of the VIFOR wind farm in Buzău County. The financing, supported by a consortium of 8 banks led by Erste Group, UniCredit Group, and the European Bank for Reconstruction and Development, marks Rezolv Energy’s first major financing.

Phase 1 of the project involves the installation of a 192MW capacity, backed by 5 major power purchase agreements (PPAs). Construction will be completed in 18 months, with operations starting before the end of 2025. An expansion to 461MW is planned for Phase 2.

Once operational, the VIFOR wind farm will become one of the largest onshore wind farms in Europe, generating clean energy for over 270,000 homes and reducing CO2e emissions by approximately 540,000 tonnes annually. The project supports Romania’s climate goals and the region’s energy transition.

Rezolv Energy CEO Alastair Hammond stated: “The support from this prestigious consortium of financial partners reflects the importance of the VIFOR project for Southeast Europe’s energy transition and our commitment to sustainability.”

Rezolv Energy is already developing over 2GW of clean energy in Southeast Europe, including the 1,044MW Dama Solar park in western Romania and the 600MW Dunărea East and West wind farms in Constanța County.