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Windtech International July August 2024 issue

 

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Rezolv Energy and Low Carbon, through their project subsidiary First Looks Solutions, have secured financing facilities of up to €291 million to support the Phase 1 construction of VIFOR, a wind farm project located in Romania.

The consortium of financing banks was led by Erste Group, UniCredit International Bank, and the European Bank for Reconstruction and Development (EBRD), with participation from Banca Comercială Română, the International Finance Corporation (IFC), Intesa Sanpaolo, Všeobecná úverová banka, OTP Bank, Raiffeisen Bank International, and Garanti BBVA Romania.

The first phase of the VIFOR project will install 192 MW of capacity, supported by three commercial power purchase agreements (PPAs). Construction is scheduled to be completed within 18 months, with the wind farm expected to come online before the end of 2025. A planned expansion to 461 MW will take place in Phase 2.

 
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