Actis-backed Rezolv Energy to develop Europe’s ‘largest’ PV plant in Romania

Facebook
Twitter
LinkedIn
Reddit
Email
Acquired from Monsson Group, the plant is expected to include 1.6 million solar panels, be operational by 2025 and generate an annual average of 1,500GWh of power. Image: Unsplash.

Rezolv Energy, backed by sustainable infrastructure investor Actis, has acquired rights to a 1,044MW PV plant in western Romania. Actis has said the project is “expected to be the largest solar PV plant in Europe”.

Acquired from Monsson Group, the plant is expected to include 1.6 million solar panels, be operational by 2025 and generate an annual average of 1,500GWh of power.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Actis said that the power will be sold through long-term power purchase agreements to commercial and industrial users, though it has not specified if these have yet been agreed. It’s also “likely” to include a 135MW battery storage system, though this is also yet to be confirmed.

The project will also be integrated with symbiotic agricultural activities, with poor agricultural land being transformed into pasture for sheep and beekeeping included to increase biodiversity. Agrivoltaic projects such as this have become increasingly prevalent, such as the Land of the Sun project in Italy.

“We are moving into a new era for renewable energy in Europe. Projects like this will give us the scale to provide highly competitive, subsidy-free clean power at a stable price for industrial and commercial users.” Jim Campion, chief executive of Rezolv Energy said. “It will also make a significant contribution to Europe’s twin objectives of increasing its energy independence and reducing its net emissions to zero.”

Rezolv was launched by Actis earlier this year in order to “build a new era of sustainable power in Central and South-Eastern Europe”, the company said.

Indeed, Romania is forecast to experience a ‘renewables wave’ in the coming years. “This market is really hot, everyone is trying to get their share,” Panos Kefalas, senior associate for South Eastern European markets at consultancy Aurora Energy Research has said.

Investment in solar PV in Romania is continuing to grow, as developer Econergy has recently bolstered its Romanian and Eastern European presence with more construction contracts.

21 March 2024
4pm (GMT)
This special webinar will look at one of the most important changes impacting PV manufacturing today; how to establish and sustain new facilities around the world. For more than two decades, policy-makers have grappled with the challenges of nurturing domestic manufacturing sectors. Many countries have tried to create domestic sectors: Japan, Taiwan, South Korea, India, Europe and the U.S. But success stories have been rare. Mistakes seem to be repeated. And all the while, Chinese dominance of the industry has only increased. However, in the past 2-3 years, new drivers have emerged that suggest the dream of a global PV manufacturing ecosystem could be a reality. Join us as we shed light on this.
26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA