In an effort to construct a 450MW onshore wind farm in Romania, UK-based clean energy company Low Carbon has signed a collaboration with Rezolv Energy, an independent clean energy power supplier based in the Czech Republic, which focuses on sustainable power in Central and South Eastern Europe.
The agreement is one of the greatest initiatives the renewable energy investment company has undertaken thus far in terms of energy output, Business Review reports.
South of Buzău is where the Vis Viva wind farm will be situated. When fully operational, it will overtake the Fântânele-Cogealac wind farm as the second biggest wind farm in Romania and one of the biggest onshore wind farms in all of Europe. With some major capacity left over, it has the ability to produce enough green power to supply over 272,000 houses, which is almost equal to the combined populations of Iași and Cluj-Napoca. Additionally, this amount of renewable energy would prevent around 180,000 tonnes of CO2e annually.
Rezolv, a recently established company by Actis, one of the world’s top investors in sustainable infrastructure, has purchased a 51% share in the project. Despite being a recently established company, Rezolv’s leadership team has already created and managed a number of energy projects in Central and South Eastern Europe, including the Chirnogeni wind farm in South Eastern Romania.
“We are pleased that Rezolv Energy chose to collaborate with Low Carbon for its first energy transaction in Europe. Our two companies share a commitment to generating sustainable investments at scale for the benefit of future generations, and we look forward to working with them to provide millions with clean and affordable wind energy,” said Roy Bedlow, Low Carbon CEO.
The Vis Viva wind farm will make use of the area’s great wind resources, level topography, and electricity connections, significantly advancing the European Union’s environmental goals for 2030 and 2050 as the EU strives to hasten its switch to renewable energy.
It is Low Carbon’s first venture into Romania and the most recent addition to the firm’s expanding foreign portfolio, supporting the renewable energy investor’s goal of expanding through development into Europe and certain global markets. Since the investor initially joined the agreement with Nero Renewables NV and other regional developers in 2020, Low Carbon has been overseeing the Vis Viva project.
By 1H 2023, the financial closure of the Vis Viva wind farm is anticipated.