Low Carbon, a renewable energy investment and asset management firm, is partnering with Actis-backed clean energy power producer Rezolv Energy to develop two onshore wind farms in Romania with a total capacity of up to 600MW.
The wind farms will be built in the communes of Adamclisi and Deleni in Romania’s Constanta county.
Once operational, the wind farms are expected to produce enough clean energy to power over 332,000 households.
Besides, the Adamclisi and Deleni wind projects are anticipated to significantly contribute to both Romania’s and the European Union’s environmental targets for 2030 and 2050 by eliminating nearly 220,000 tonnes of carbon dioxide per year.
Low Carbon chief executive Roy Bedlow said: “The central role of renewable energy in mitigating climate change is undeniable, and was a focal point of the recent COP27 summit in Sharm el-Sheikh.
“With wind and solar power set to provide two-thirds of global power generation by 2050 in long-term Paris-compliant energy scenarios, our latest project is set to make an important contribution to the continent’s energy transition, and its ambitious net-zero targets.
“The Adamclisi & Deleni projects will also make a significant contribution to Low Carbon’s own ambition to build 20GW of new renewable energy capacity, and achieve net zero, by the end of the decade.”
Established in 2022 with an investment of €500m by Actis, Rezolv Energy focuses on wind, solar, and energy storage projects across Central and South Eastern Europe.
With the Adamclisi and Deleni wind farms, the firm has over 2GW of wind and solar power in development.
Rezolv Energy will hold a 51% stake in the new Romanian onshore wind farms.
Rezolv Energy chief executive Jim Campion said: “Companies and governments around the world are increasingly favouring the adoption of clean, cost-effective and quick-to-build renewable energy http://webbanki.ru/zaimy .
“With over 2GW of renewables now in development, we are proud to play a crucial role diversifying and increasing security of supply, while reducing central and eastern Europe’s dependence on non-renewable energy sources.”
The new Romanian wind farms are expected to reach a financial close during the second half of 2023.
In September 2022, the two parties announced a partnership to develop the 450MW Vis Viva wind farm in Romania.
The Vis Viva wind farm will be constructed east of Bucharest and is expected to generate enough clean energy to power over 270,000 households.
