Rezolv announces 600MW of new onshore wind capacity in Romania
- New Adamclisi & Deleni wind farms will create one of Europe’s largest onshore wind projects
- Project is Rezolv’s third major deal since launching in August 2022
- Rezolv now has more than 2GW of wind and solar power in development
Rezolv Energy, an independent clean energy power producer focused on sustainable power in Central and South Eastern Europe, has announced its third significant deal since it was established in August 2022.
In partnership with Low Carbon, Rezolv will construct two onshore wind farms in Romania with a combined capacity of up to 600MW. Together with Rezolv’s recently announced 450MW Vis Viva wind farm and 1,044MW Arad solar farm, the business now has more than 2GW of renewable energy projects in late-stage development.
Sharing the same grid connection point, the two new wind farms will be located in the communes of Adamclisi & Deleni in Romania’s Constanta county. The sites will benefit from the region’s exceptional natural wind resources, flat terrain, and energy interconnection. Once operational, the wind farms will generate enough clean energy to power more than 332,000 homes and avoid approximately 220,000 tonnes of CO2e annually, making a significant contribution to both Romania’s and the European Union’s environmental targets for 2030 and 2050.
Low Carbon has been stewarding the Adamclisi & Deleni projects since 2020, when the investor first entered the transaction with local developers and Nero Renewables NV. Rezolv has now acquired a 51% stake in the projects, which are expected to reach financial close during the second half of 2023.
Rezolv launched earlier this year, backed by €500m from Actis, a leading global investor in sustainable infrastructure. The company aims to build a multi-gigawatt portfolio of wind, solar and energy storage across Central and South Eastern Europe, taking renewable energy projects from late-stage development through construction and into long-term operation. It will provide subsidy-free clean energy at a long-term, stable price for commercial and industrial users, and other off-takers, operating across the region.
“Companies and governments around the world are increasingly favouring the adoption of clean, cost-effective and quick-to-build renewable energy. With over 2GW of renewables now in development, we are proud to play a crucial role diversifying and increasing security of supply, while reducing central and eastern Europe’s dependence on non-renewable energy sources.”
– Jim Campion, Chief Executive, Rezolv Energy
“The central role of renewable energy in mitigating climate change is undeniable, and was a focal point of the recent COP27 summit in Sharm el-Sheikh. With wind and solar power set to provide two-thirds of global power generation by 2050 in long-term Paris-compliant energy scenarios, our latest project is set to make an important contribution to the continent’s energy transition, and its ambitious net-zero targets. The Adamclisi & Deleni projects will also make a significant contribution to Low Carbon’s own ambition to build 20GW of new renewable energy capacity, and achieve net zero, by the end of the decade.
We are delighted to deliver the project in partnership with Rezolv Energy, as part of our shared commitment to generating sustainable investments at scale for the benefit of future generations.”
– Roy Bedlow, Chief Executive at Low Carbon
“This announcement demonstrates our commitment to back Rezolv’s ambition to build a multi-gigawatt portfolio of wind, solar and energy generation over the next few years, helping companies and communities across the region meet their energy needs through clean, renewable energy generation that supports Net Zero targets.”
– Jaroslava Korpanec, Partner and Head of Central & Eastern Europe at Actis
