Low Carbon Partners Rezolv Energy to supply one of Europe’s largest capacity wind farms to Romania

Low Carbon announced its collaboration with Rezolv Energy, an independent clean power producer focused on sustainable energy in Central and South Eastern Europe, to deliver a 450 MW onshore wind farm in Romania. The deal represents one of the renewable energy investment manager’s biggest projects to date in terms of power generation.

The Vis Viva wind farm will be located south of Buzau. Once operational, it will be the second largest wind farm in Romania – behind the Fantanele-Cogealac wind farm – and one of the largest onshore wind farms in Europe. It has the capacity to generate enough clean energy to power over 272,000 homes, the equivalent of Iasi and Cluj-Napoca combined, with significant capacity to spare. This amount of clean energy would also save approximately 180,000 tonnes of CO2 equivalent each year.

Rezolv, recently launched by Actis – one of the world’s leading investors in sustainable infrastructure – acquired a 51% stake in the project. Although Rezolv is newly formed, its management team previously developed and managed a portfolio of energy projects in Central and South Eastern Europe, including the Chirnogeni wind farm in southeastern Romania.

The Vis Viva wind farm will benefit from the region’s exceptional natural wind resources, flat terrain and energy interconnection, making a significant contribution to the European Union’s environmental targets for 2030 and 2050 as the block seeks to accelerate its transition to clean energy.

This is the first foray into Romania for Low Carbon and marks the latest addition to the company’s growing international portfolio, supporting the renewable energy investor’s commitment to expand via growth in Europe and in some global markets. Low Carbon has managed the Vis Viva project since 2020, when the investor first closed the deal with local developers and Nero Renewables NV.

The Vis Viva wind farm is expected to reach financial close by the first half of 2023.

“As Europe seeks to accelerate its renewable energy production, the Vis Viva wind farm will make an important contribution to the continent’s energy transition and its pursuit of net zero emissions. The project’s 450 MW capacity also marks an important milestone for Low Carbon, as we seek to build 20 GW of renewable energy capacity and reach net zero by 2030. We are delighted that Rezolv Energy has chosen to collaborating with Low Carbon for its first energy transaction. in Europe. Our two companies share a commitment to generating large-scale sustainable investments for the benefit of future generations, and we look forward to working with them to provide millions of people with clean and affordable wind energy,” commenting on the agreement, Roy Bedlow, managing director of Low Carbone, says.

“Rising energy costs, heightened security concerns, demand to meet climate goals and stakeholder expectations are driving an overhaul of energy use and production. Today, private companies, as well as public utilities, find their traditional reliance on fossil fuels much less viable. The Vis Viva project will play a major role in accelerating this transition in Romania, while providing long-term, stable price electricity to commercial and industrial consumers in the region,” added Jim Campion, Managing Director. of Rezolv Energy.

About low carbon

Low Carbon is a leading renewable energy investment and asset management company engaged in the development and operation of large-scale renewable energy. Low Carbon invests in both renewable energy developers and projects across a range of renewable energy technologies, including solar PV, wind, energy storage, waste-to-energy and energy efficiency. Low Carbon, a certified B Corp company, has a proven track record in developing, building, financing and managing renewable energy assets and remains committed to long-term projects with a dedicated asset management team who manages the assets on the balance sheet and for third parties. With a large international renewable energy pipeline in development, Low Carbon is well positioned to take advantage of opportunities as the need for renewable energy and energy security increases.

About Rezolv

Rezolv is a very experienced independent renewable energy producer. They provide clean, subsidy-free energy at a stable, long-term price for industrial and commercial users, and other buyers, operating across Central and South Eastern Europe.

Building on a 15-year heritage in clean energy, Rezolv supports renewable projects – wind, solar and storage – from late-stage development through construction and long-term operation.

With long-term investment backing from Actis, one of the world’s leading energy investors, they are building a multi-GW portfolio that will help businesses and countries meet their current and future energy needs. .

About Actis

Actis is a leading global investor in sustainable infrastructure. They offer competitive returns to institutional investors and a measurable positive impact for the countries, cities and communities in which they operate. Actis’ global experience, operational know-how and strong culture enable it to create global leaders in sustainability. Since its inception, Actis has raised US$24 billion to invest in a better future.

Actis is a signatory to the United Nations-backed Principles for Responsible Investment (UNPRI), an investor initiative developed by UNEP FI and the United Nations Global Compact. The company has consistently achieved the highest rating in the independent United Nations Principles for Responsible Investment (PRI) assessment.