Rezolv Energy and Low Carbon partner Vestas for major wind farm project in Romania

17 June 2024

Actis-backed Resolv Energy and Low Carbon, through their project subsidiary First Looks Solutions, selected Vestas as their engineering, procurement, and construction (EPC) partner for the first phase of the Vifor wind farm in Buzău county, Romania. Phase 1 will see the installation of 192 MW of capacity, with planned expansion to 461MW in Phase 2.

Once operational, Vifor will be one of the largest onshore wind farms in Europe, the developers said. Close to the Carpathian Mountains, the project is estimated to generate enough clean energy to power more than 270,000 homes and avoid approximately 540,000 tonnes of CO2 annually.

The first phase of the Vifor project will involve the installation of 30 EnVentus Vestas V162 wind turbines, each with a capacity of 6.4MW. The turbines have a tower height of 166 meters and a rotor diameter of 162 meters. 

Vestas’ role as EPC partner will involve working alongside Rezolv and Low Carbon to implement the Environmental and Social Management Plan for Vifor.

Construction is scheduled to be completed within 18 months, with Vifor coming onstream before the end of 2025.

Alastair Hammond, CEO of Rezolv Energy, said: “The Vifor wind farm will play a significant role in reducing Romania’s dependence on fossil fuels, enhancing the country’s energy security and improving air quality. Vestas, as the world’s largest wind turbine manufacturer and with the greatest number of MWs installed in the region, is a natural partner for this, the first large wind farm in the CEE/SEE region in the past 10 years.”

In his turn, Nils de Baar, president of Vestas Northern and Central Europe, stated: “Vifor will become one of the largest onshore wind projects in the region, contributing significantly to Romania’s energy transition ambitions. Vestas is pleased to deliver this order as a turnkey project, and our thanks go to our partners for the great collaboration and their trust in our industry-leading technology.”

Last week, finance loan facilities of up to EUR 291 million were secured to support the Phase 1 construction from a consortium of eight lenders led by Erste Group, UniCredit Group, and the European Bank for Reconstruction and Development, as well as the International Finance Corporation (IFC), Intesa Sanpaolo Group, OTP Bank, Raiffeisen Bank International AG, and Garanti BBVA Romania. Phase 1 is also underpinned by five landmark commercial power purchase agreements (PPAs).

Rezolv Energy was launched 18 months ago by Actis, a leading global investor in sustainable infrastructure, and already has well over 2GW of clean energy being prepared for construction in South Eastern Europe. Besides Vifor wind farm, projects include Dama Solar in western Romania - which, at 1,044MW, will be the largest solar plant anywhere in Europe once it is built, the 600MW Dunarea East & West Wind Farms in Romania’s Constanța county, and St. George - a 229MW solar project in north-eastern Bulgaria.

irina.marica@romania-insider.com

(Photo source: Vestas Wind Systems AS)

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Rezolv Energy and Low Carbon partner Vestas for major wind farm project in Romania

17 June 2024

Actis-backed Resolv Energy and Low Carbon, through their project subsidiary First Looks Solutions, selected Vestas as their engineering, procurement, and construction (EPC) partner for the first phase of the Vifor wind farm in Buzău county, Romania. Phase 1 will see the installation of 192 MW of capacity, with planned expansion to 461MW in Phase 2.

Once operational, Vifor will be one of the largest onshore wind farms in Europe, the developers said. Close to the Carpathian Mountains, the project is estimated to generate enough clean energy to power more than 270,000 homes and avoid approximately 540,000 tonnes of CO2 annually.

The first phase of the Vifor project will involve the installation of 30 EnVentus Vestas V162 wind turbines, each with a capacity of 6.4MW. The turbines have a tower height of 166 meters and a rotor diameter of 162 meters. 

Vestas’ role as EPC partner will involve working alongside Rezolv and Low Carbon to implement the Environmental and Social Management Plan for Vifor.

Construction is scheduled to be completed within 18 months, with Vifor coming onstream before the end of 2025.

Alastair Hammond, CEO of Rezolv Energy, said: “The Vifor wind farm will play a significant role in reducing Romania’s dependence on fossil fuels, enhancing the country’s energy security and improving air quality. Vestas, as the world’s largest wind turbine manufacturer and with the greatest number of MWs installed in the region, is a natural partner for this, the first large wind farm in the CEE/SEE region in the past 10 years.”

In his turn, Nils de Baar, president of Vestas Northern and Central Europe, stated: “Vifor will become one of the largest onshore wind projects in the region, contributing significantly to Romania’s energy transition ambitions. Vestas is pleased to deliver this order as a turnkey project, and our thanks go to our partners for the great collaboration and their trust in our industry-leading technology.”

Last week, finance loan facilities of up to EUR 291 million were secured to support the Phase 1 construction from a consortium of eight lenders led by Erste Group, UniCredit Group, and the European Bank for Reconstruction and Development, as well as the International Finance Corporation (IFC), Intesa Sanpaolo Group, OTP Bank, Raiffeisen Bank International AG, and Garanti BBVA Romania. Phase 1 is also underpinned by five landmark commercial power purchase agreements (PPAs).

Rezolv Energy was launched 18 months ago by Actis, a leading global investor in sustainable infrastructure, and already has well over 2GW of clean energy being prepared for construction in South Eastern Europe. Besides Vifor wind farm, projects include Dama Solar in western Romania - which, at 1,044MW, will be the largest solar plant anywhere in Europe once it is built, the 600MW Dunarea East & West Wind Farms in Romania’s Constanța county, and St. George - a 229MW solar project in north-eastern Bulgaria.

irina.marica@romania-insider.com

(Photo source: Vestas Wind Systems AS)

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