Dunarea East (IFC-53297)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Romania
Geographic location where the impacts of the investment may be experienced.
Specific Location
Deleni in Constanta County, Southeastern Romania
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 4, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Midmar Callatis SRL (Rezolv Energy)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 113.54 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 100
Converted using 2026-06-24 exchange rate.
Loan Amount (USD)
$ 113.54 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 100
Converted using 2026-06-24 exchange rate.
Project Cost (USD)
$ 465.52 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 410
Converted using 2026-06-24 exchange rate.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 9, 2026

Disclosed by Bank Jun 24, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the IFC, the proposed investment would support the development of the 288 MW Dunarea greenfield onshore wind power plant in Constanta County, Romania. 211 MW of its overall capacity were awarded 15-year Contract-for-Difference under Romania’s support scheme with the balance expected to operate in the competitive electricity market on a merchant basis.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

As stated by the IFC, the Project is estimated to cost approximately EUR 410 million. IFC is considering providing an A Loan of up to EUR 100 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.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, the Project is being implemented by Midmar Callatis S.R.L., a Special Purpose Vehicle incorporated in Romania, which is wholly owned by Rezolv Energy S.A. (Rezolv).

Rezolv was established in Luxembourg in July 2022 as an independent renewable energy producer focused on developing, owning and operating large-scale clean 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$16 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 USD 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.

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 Energy owns Rezolv Energy Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Rezolv Energy S.A.:

Jennifer Boca - Chief Sustainability Officer
Phone: +420 227 316 222
Email: jboca@rezolv.energy
Address: Amazon Court, Karolinska 661/4, 186 00 Praha 8, Czech Republic
Website: https://rezolv.energy/

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

Local Access of Project Documentation - Midmar Callatis SRL: 

Address: Bld. Mamaia 158, Birou 2, Etaj 9, Constanta, Republic of Romania  
Website: https://rezolv.energy/project/dunarea-east-west-wind-farm/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org 

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How it works