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Low Carbon, Rezolv Energy secure finance for Romanian wind farm

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LONDON, June 13 (Reuters) -Renewable energy producer Rezolv Energy and British clean power investment firm Low Carbon have secured loan facilities of up to 291 million euros ($314 million) to finance the construction of an onshore wind farm in Romania.

The consortium of lenders included Erste Group, UniCredit Group, the European Bank for Reconstruction and Development, as well as the International Finance Corporation, Intesa Sanpaolo Group, OTP Bank, Raiffeisen Bank International AG and Garanti BBVA Romania.

The first phase of the so-called VIFOR project in north-east Bucharest will install 192 megawatts (MW) of capacity and should come online before the end of 2025.

A second phase will expand the capacity to 461 MW, Low Carbon said.

When fully operational, the wind farm will be able to generate enough electricity to power more than 270,000 homes.

Rezolv Energy was launched 18 months ago by investor Actis to build onshore wind and solar parks in central and south-eastern Europe. Rezolv currently has over 2 gigawatts of clean energy being prepared for construction in south-eastern Europe.

($1 = 0.9253 euros)

Reporting by Nina Chestney
Editing by Mark Potter


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