Largest wind farm project in Romania in 10 years
In recent years Romania has emerged as a regional leader in sustainable energy across Central and Eastern Europe (CEE), thanks to its ambitious targets and strategic investments. The country aims to reach 44% renewables by 2035 and 73% by 2050, tapping into wind, solar, hydro, and geothermal sources. With the Vifor project Romania is taking another strong step towards achieving these goals.
Client: Rezolv Energy
Product: EUR 621 mn financing package
Use of funds: Vifor Phase I & II
About the project: Following the first phase of the Vifor wind farm in 2024, the financing of the second phase has now been successfully concluded. Vifor I & II, developed by Rezolv Energy, will have a combined installed capacity of 461 MW, making it the largest wind project built in Romania in the past 10 years. Phase I is currently being constructed, with 30 turbines of a combined 192 MW to be operational by early 2026. Phase II will have additional 42 turbines (269 MW) operational by 2027. Upon completion, Vifor will be the second largest wind project in Romania - with an installed capacity of 461 MW, the project will generate enough electricity to power over 700,000 homes.
“We are delighted to have sourced this significant additional funding from our trusted group of international lenders. With Phase 1 of the VIFOR project scheduled for completion by spring 2026, this financing allows us to move seamlessly into Phase 2 and take the project to its full capacity”, underlines Alastair Hammond, CEO of Rezolv Energy.
The financing for this project was led by Erste Group Bank AG together with Unicredit and supported by Banca Comercială Română, International Finance Corporation, the European Bank for Reconstruction and Development (EBRD) and further commercial banks.
“Erste is proud to lead-arrange this landmark energy transition project in Romania. Credit to our past work and efforts, Erste today is the prime partner of choice for renewable energy projects across the CEE region. The successful completion of Vifor phase II and constructive cooperation with the Sponsor Actis/Rezolv throughout reinforces our position as go-to financing partner for further projects currently under development”, says Wolfgang Hargassner, Head of Corporate Finance of Erste Group.