Photo: Actis
Mubadala Investment Company, a sovereign investment fund from Abu Dhabi, is acquiring a stake in Rezolv Energy, a major renewable energy investor in Romania, which is developing the largest solar park in Europe.
Mubadala is setting up a joint venture with Rezolv Energy’s owner, sustainable infrastructure investment fund Actis, for joint control of the firm, whose ongoing projects in the country exceed 2 GW, according to a report by Profit.ro.
The Mubadala-Actis joint venture, which has received the green light from the European Commission, will be created through the purchase of shares and securities.
Mubadala, with assets under management of USD 300 billion as of the end of 2024, is wholly owned by the government of Abu Dhabi, the United Arab Emirates (UAE).
The transaction has been cleared by the European Commission
Rezolv Energy’s ongoing projects in Romania include the construction of a photovoltaic park with an installed capacity of 1,044 MW in Arad County, called Dama Solar. Once in operation, it is expected to be the largest solar park in Europe. The investment envisages a battery energy storage system (BESS) with 500 MW of operating power.
Rezolv Energy is developing the 1,044 MW Dama Solar project and over 1 GW of wind farms in Romania
Its portfolio in Romania also includes a 600 MW wind project in Constanța county and a 461 MW wind park in Buzău county. The company has already signed a grid connection agreement for the facility in Constanța.
The company won four contracts for difference (CfD), for a total capacity of 951.2 MW, in the first two auctions organized by the Romanian Ministry of Energy, according to Profit.ro.
Rezolv Energy was launched by Actis in 2022, with an initial investment of EUR 500 million. It is now active in Romania, Croatia, the Czech Republic, Luxembourg, Bulgaria, and Slovakia, with a total portfolio of 2.5 GW of solar and wind projects.
Be the first one to comment on this article.