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As stated by the IFC, Rezolv Energy is a renewables developer and independent power producer (IPP) headquartered in Czechia. The Sponsor has established West Power Investments S.R.L. (Sponsor) acting as the Project Special Purpose Vehicle (SPV) and which is wholly owned by Rezolv Energy. The Sponsor seeks a loan of Euro 107 million from IFC to fund the construction and operation a large-scale photovoltaic (PV) power generation located in northern Arad County, Romania, within the administrative territories of Graniceri and Pilu communes (The Project).
The Project comprises the design, construction, operation and eventual decommissioning of a ground-mounted solar photovoltaic installation together with associated grid connection infrastructure required to export electricity into the Romanian transmission system. The Project has an estimated installed DC capacity of 1.2 GWp. Electricity generated by the PV plant will be evacuated through a dedicated underground high-voltage infrastructure connecting the facility to the existing Nadab - Bekescsaba 400 kV overhead transmission line (OHTL) operated by Transelectrica S.A., the Romanian Transmission System Operator.
The Project will be made up of the following principal components:
(i) Ground-mounted PV module arrays installed on fixed mounting structures (metallic fixed substructures)
(ii) Inverter stations converting direct current (DC) electricity into alternating current (AC)
(iii) Internal medium-voltage electrical collection network
(iv) Internal access roads and drainage infrastructure
(v) Main Step-Up Substation (MSUS)
(vi) 400 kV Interconnection Substation (ICS) “Graniceri”
(vii) Approximately 3.5 km underground high-voltage cable between substations
(viii) Control, telecommunication and SCADA systems.
The development is structured as a phased implementation enabling progressive construction and commissioning while ensuring compliance with grid requirements and environmental permitting conditions.Land required for the Project and all principal components has been secured through voluntary transactions and servitude agreements. The Project does not require physical displacement of people or residential structures, and no involuntary resettlement or significant economic displacement is anticipated.
Construction activities are expected to commence following Engineering Procurement and Construction (EPC) contract signing and Notice to Proceed (NTP), anticipated in Q3 2026 and the total construction phase will take approximately 2.5 years with commercial operation date (COD) envisaged in H1 2028.
As stated by the IFC, the Project is estimated to cost approximately €520 million. IFC is considering providing an A Loan of up to €107 million for IFC’s own account. The remainder of the financing package is expected to be provided by a club of DFIs and commercial banks.
As stated by the IFC, the Project is being implemented by West Power Investments SRL, a special purpose company incorporated in Romania, which is wholly owned by Rezolv Energy SA.
Rezolv was established in Luxembourg in July 2022 as an independent renewable energy producer focused on developing, owning, and operating renewable energy assets across Central and Eastern Europe. Rezolv is majority owned by Actis LLC (“Actis”) through its Actis Energy 5 Fund, and One Hundred and Thirty First Investment Company, a company wholly owned by Mubadala Investment Company (“Mubadala”), is a minority investor.
Actis is a leading global investor in sustainable infrastructure, with approximately US$12.5 billion of assets under management dedicated to infrastructure strategies. Since its acquisition by General Atlantic in October 2024, Actis operates as General Atlantic’s sustainable infrastructure investment platform.
General Atlantic is a leading global growth investor, creating a diversified global investment platform with approximately US$97 billion in combined assets under management. The firm was founded in 1980, investing in technology, consumer, financial services, healthcare, life sciences, climate, and sustainable infrastructure, with a global presence across the Americas, Europe, Asia, and the Middle East.
Mubadala is a sovereign wealth fund wholly owned by the Government of Abu Dhabi, with a long-term investment mandate to generate sustainable financial returns and support economic diversification. Mubadala has US$330 billion in assets under management. Mubadala’s portfolio spans energy and renewables, infrastructure, technology, life sciences, healthcare, and advanced manufacturing, with investments across more than 50 countries globally.
As stated by Bloomberg, Transelectrica SA distributes electricity. The Company manages and operates the electricity transmission system and provides the electricity exchanges between the central and eastern European countries as an ENTSO-E member (European Network of Transmission and System Operators for Electricity).
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| Actis LLP | Parent Company | Infrastructure | owns | Rezolv Energy | Client | Energy |
| Mubadala Investment Co PJSC | Investor | Finance | invests in | Rezolv Energy | Client | Energy |
| Transelectrica S.A. | Buyer | Energy | contracts with | Rezolv Energy | Client | Energy |
Client - Rezolv Energy S.A.:
Jennifer Boca - Chief Sustainability Officer
Email: jboca@rezolv.energy
Address: Amazon Court, Karolinska 661/4, 186 00 Praha 8, Czech Republic
Website: https://rezolv.energy/
West Power Investments SRL:
Address: Piata Charles De Gaulle 15 E., Sectorul 1, Bucuresti, Republic of Romania
Website: https://rezolv.energy/project/dama-solar/
General IFC Inquiries - IFC Communications:
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Telephone: +1 202-473-3800
Fax: +1 202-974-4384
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