Rezolv Energy has chosen not to hand Dama Solar to a single contractor. The Actis- and Mubadala-backed producer has split the 1.36GWp project in Arad County, western Romania, across seven companies. It is a procurement model that swaps one point of accountability for competition and capacity, and puts the interface risk squarely on the owner.
The line-up, announced on 12 November, covers three areas. CHINT Green Energy, CMC Europe and Solarpro will each take a separate engineering, procurement and construction (EPC) package. EnergoBit and Siemens Energy will deliver the high-voltage electrical infrastructure. Tongwei and Astronergy will supply the modules.
Once operating, Dama Solar will be the largest onshore renewable energy project in the EU. It spans more than 1,000 hectares and is expected to produce around 1,800 GWh a year, equal to about 36% of Romania’s total solar generation in 2025. Commercial operations are scheduled for the second half of 2028, with the construction workforce peaking at around 1,500.
Who owns the interfaces
The split structure is the real story. A full-wrap EPC gives lenders one counterparty for completion and performance. A multi-contract build hands the owner the job of making three construction packages, two grid contractors and two module supply chains fit together on one site.
Rezolv is not pretending otherwise. Ivan Jara Carrasco, Head of Solar & Storage at Rezolv Energy, said that with seven partners working on different elements, coordination “will be critical”, and that the company’s focus is on bringing their expertise together across engineering, electrical infrastructure and module supply.
Using two module suppliers also means a project of this size is not tied to one manufacturer’s output. Neither the split of volumes nor the module technology has been disclosed.
The money is already in place
The appointments follow financial close at the end of September. Through its project company West Power Investments, Rezolv signed a package of up to €561m from 14 lenders, anchored by the European Investment Bank with an InvestEU guarantee. Ten commercial banks took part: Erste Group, UniCredit, Banca Comercială Intesa Sanpaolo Romania, Société Générale, OTP Bank, ČSOB, Raiffeisen Bank, Raiffeisenlandesbank Niederösterreich-Wien, Piraeus Bank and Siemens Bank. On the development finance side, the EBRD is providing a €21.1m senior secured loan, alongside the IFC and the Black Sea Trade and Development Bank.
It is Rezolv’s largest financing to date, by both size and number of lenders. For comparison, the company raised €291m and €331m for the two phases of its VIFOR wind farm, and €90m for the St. George solar park in Bulgaria.
A layered revenue stack
What made the debt bankable is a mix of state-backed and corporate revenue. In Romania’s second CfD auction in August 2025, Dama Solar won two 15-year contracts for difference of 260MW each, covering 520MW of capacity. The solar round was keenly priced: winning bids ranged from €35.50/MWh to €45.20/MWh, against a ceiling of €73/MWh. Dama’s own strike price has not been published.
The corporate layer followed. Rezolv and Ahold Delhaize, owner of the Romanian grocery chains Mega Image and Profi, signed a 10-year virtual PPA in October, announced on 5 November, covering about 370 GWh a year from Dama Solar and the 300MW Dunarea East wind farm in Constanța County. That is roughly 14% of the two projects’ combined expected output, with Ahold Delhaize receiving the guarantees of origin. It is the first PPA for both assets and Rezolv’s eighth VPPA across Romania and Bulgaria.
Lenka Duskova, CFO of Ahold Delhaize Europe and Indonesia, said the retailer was pleased to support projects “which will add new renewable capacity to the grid”. Pairing solar with wind in one contract also gives the buyer a supply profile less concentrated in daylight hours than solar alone. Neither side has disclosed the price.
Mind the megawatts
Dama’s headline capacity has moved over time. Earlier company materials and the 2025 CfD results gave 1,044MW. The September financing announcement used 1.3GWp, and the latest release says 1.36GWp. The peak figures describe installed module capacity, so anyone comparing Dama with other plants should check which basis is being quoted.
What to watch
Dama sits within Rezolv’s 2.8GW portfolio in Romania and Bulgaria, which also includes the 600MW Dunarea East & West wind farms and the 461MW VIFOR wind farm; the 225MW St. George plant in Bulgaria began operating in May 2026. Within the Dama site, Rezolv has set aside 82 hectares for a nature reserve on land that could otherwise have carried panels.
The next markers are mobilisation across all seven contracts, progress on the high-voltage works, and whether more of Dama’s output is contracted beyond the CfDs and the Ahold Delhaize deal. With seven contractors on one site, the second-half 2028 date will be won or lost at the interfaces, not inside any single package.
