EBRD supports major wind farm in Romania

• EBRD lending up to €31.9 million to support one of Romania's largest wind farms
• Renewable energy generated will meet needs of around 600,000 people, contributing to country's 2030 wind power target
• EU providing guarantee and assistance with green skills through InvestEU programme

The European Bank for Reconstruction and Development (EBRD) is providing a senior loan of up to €31.9 million to Midmar Callatis, a wholly-owned project subsidiary of Rezolv Energy, to finance the construction and operation of Dunarea East, which will be one of Romania's largest wind farms. This loan forms part of a broader senior financing package of up to €367 million.

With an installed capacity of 292.5 MW, the wind farm is expected to generate 673 GWh of renewable electricity annually, equivalent to the annual electricity needs of around 600,000 people. The project will account for around 4 per cent of Romania's 2030 onshore wind capacity target, supporting the country's energy security and decarbonisation goals.

The EBRD financing will benefit from a €7.6 million first-loss guarantee provided by the European Union (EU) under its InvestEU programme, helping to mobilise private investment in renewable energy.

The Bank is also working with Rezolv Energy on a skills development programme in Constanța County, supported by an InvestEU-funded technical cooperation grant. The programme will work with local educational institutions to provide accredited training in wind energy and related skills to at least 100 people by 2030, supporting employment in Romania's growing renewable energy sector.

The initiative will also seek to increase women's participation in the sector, with female trainees expected to account for at least 30 per cent of total programme participants. The programme will include measures aimed at preventing and addressing gender-based violence and harassment in the workplace.

This investment comes at a time when Romania is accelerating the deployment of renewable energy to strengthen energy security, diversify its energy mix and support its decarbonisation objectives. By increasing domestic production of renewable electricity, the project will help to reduce reliance on imported fuels and more carbon-intensive energy sources, while enhancing the resilience of the national power system.

This project is sponsored by Rezolv Energy, a renewable energy developer backed by Actis and Mubadala. The EBRD has worked with Rezolv Energy on a number of renewable energy investments in Romania since 2024 (including the Vifor Wind project and the Dama Solar project), supporting the continued growth of Romania's renewable energy sector and the country's transition to a more sustainable, secure and competitive energy system.

The EBRD is a leading institutional investor in Romania. Since beginning operations in the country in 1991, the Bank has invested more than €12.9 billion across 609 projects, with the majority of that investment going to the private sector. Since 2024, the Bank has invested over €700 million in more than 15 energy projects in Romania, supporting over 4.5 GW of renewable energy capacity.