Rezolv signs 370GWh Romanian renewable agreement

Rezolv Energy has signed a ten-year virtual power purchase agreement with international retailer Ahold Delhaize covering 370GWh of renewable electricity annually from two major generation projects under development in Romania.

The agreement combines output from the 1.3GWp Dama Solar project in Arad County and the 300MW Dunarea East wind farm in Constanța County. Both installations are expected to enter commercial operation in 2029, with the associated contractual arrangements and Guarantees of Origin beginning when the projects become operational.

Rezolv Energy expects the two developments to generate approximately 2,580GWh of electricity annually. The contracted volume represents around 14% of that combined forecast, establishing a long-term commercial arrangement for part of the projects’ future generation before construction and commissioning have been completed.

The contract is structured as a virtual power purchase agreement, or VPPA, rather than an arrangement requiring electricity to be delivered physically from Romania to individual Ahold Delhaize facilities. Under a typical VPPA, the generator sells electricity through the relevant market and the contracting parties make financial settlements based on an agreed pricing mechanism.

The precise settlement formula and commercial prices have not been disclosed. The agreement nevertheless provides a means of linking Ahold Delhaize’s renewable electricity procurement to the production of identifiable generating assets, while Rezolv Energy secures a contracted relationship for part of their expected output.

Ahold Delhaize will receive Guarantees of Origin for ten years. These certificates document renewable electricity attributes associated with the contracted generation and support the company’s electricity procurement and reporting arrangements. They do not establish that electricity generated in Romania will be delivered directly to the retailer’s premises.

The two projects have different generating characteristics. Dama Solar will produce electricity according to the availability of sunlight, with output concentrated during daylight hours and varying with weather conditions. Dunarea East will generate electricity from the local wind resource, producing a separate operating profile that is not tied to the same daily solar cycle.

Combining output from wind and photovoltaic installations within one agreement creates a broader generation portfolio than would be available from a single solar or wind project. The extent of the benefit will depend on how the two production profiles overlap, including periods when both technologies generate strongly or experience reduced output.

Neither technology guarantees continuous electricity delivery at its installed power rating. The amount produced over a year depends on resource availability, generating equipment performance, maintenance requirements and any restrictions affecting the export of electricity to the network.

Rezolv Energy estimates that Dama Solar will generate approximately 1,800GWh annually. The installation is planned across more than 1,000 hectares in western Romania and is expected to become one of Europe’s largest onshore photovoltaic generating facilities when operational.

The project will require extensive electrical collection infrastructure to combine the output of its photovoltaic arrays. Direct-current electricity generated by the modules must be converted to alternating current through inverters, with transformers and associated high-voltage equipment providing the connection to the electricity transmission system.

The installed rating of 1.3GWp describes the project’s photovoltaic peak capacity under standard test conditions. It is not a continuous electricity output figure, and the maximum power permitted at the grid connection may differ from the sum of the module ratings.

In September 2026, Rezolv Energy secured a financing package of up to €561m for Dama Solar. That financing supports the development and construction programme, while the new agreement with Ahold Delhaize concerns the commercial treatment of electricity expected from the completed generating asset.

The developer has also allocated 82 hectares within the Dama Solar site for nature restoration. This area is separate from the photovoltaic installation’s electricity generation function, although both form part of the wider land use and project management arrangements.

Dunarea East, meanwhile, forms part of the larger Dunarea East and West wind development in Constanța County. The eastern project has a planned installed capacity of 300MW and expected annual production of approximately 780GWh, contributing the wind generation component of the new corporate agreement.

Wind farm delivery involves turbine foundations, mechanical and electrical installation, medium-voltage collection systems, substations and the infrastructure required to export electricity to the network. The final operating performance will depend on turbine availability, local wind conditions and the completion of the necessary electrical connections.

Both projects received support through Romania’s second Contracts for Difference auction in 2025. Three successful bids associated with the developments covered 731.2MW of capacity, a figure that is separate from the projects’ combined installed generating capacity.

Contracts for Difference provide financial arrangements intended to support qualifying electricity generation against defined market price conditions. The virtual PPA with Ahold Delhaize is a separate corporate contract, and the companies have not disclosed the complete interaction between the agreement and the auction-supported capacity.

The combination of contracted corporate demand and existing project support arrangements provides different elements of the developments’ commercial structure. Those agreements do not remove the need to complete construction, obtain the required operating approvals and establish the electricity export arrangements before generation begins.

Rezolv Energy is backed by infrastructure investors Actis and Mubadala and has a portfolio of approximately 2.8GW of renewable projects in operation, under construction or at advanced development stages across Southeastern Europe.

That portfolio includes the VIFOR wind farm in Romania, whose first phase entered commercial operation in October 2026, and the St. George solar park in Bulgaria, commissioned in May. Dama Solar and Dunarea East remain future generating assets rather than additional operational capacity.

The Ahold Delhaize transaction is Rezolv Energy’s eighth virtual PPA in Romania and Bulgaria and its first with a retail-sector customer. It is also the first virtual agreement covering production from both Dama Solar and Dunarea East, combining electricity from separate renewable technologies under one corporate contract.

With commercial operation scheduled for 2029, the immediate priorities remain the development and delivery of the two generating installations. Once commissioned, their actual electricity production and the relevant contractual settlement arrangements will determine how the agreed 370GWh annual volume is allocated and accounted for throughout the ten-year term.