Mubadala invests 300 million euros in Rezolv Energy, which is developing gigantic energy projects in our country
Share
Abu Dhabi sovereign wealth fund Mubadala Investment Company has committed to invest around €300 million to partner with Actis, a leading emerging markets renewables investor, in Rezolv Energy, an independent renewable energy platform rapidly expanding across Central and Eastern Europe, including Romania.
The investment aligns with Mubadala’s broader ambition to invest in leading platforms that will accelerate the global energy transition and develop resilient infrastructure that will enable long-term economic growth, Emirati media reported.
Saed Arar, Head of Infrastructure at Mubadala Real Assets, highlighted the investment as a “clear reflection of our strategy to invest in and expand real assets that enable the transition to a low-carbon economy.”
In early September, Mubadala, a fund with assets under management of around $300 billion, began collaborating with Actis and became a shareholder in Rezolv Energy, through a joint venture agreement with the direct owner of Rezolv Energy for joint control over the energy producer. The operation received the approval of the European Commission.
“Since the launch and investment made by Actis in Rezolv Energy, the platform has become a key player in clean energy production in Central and Eastern Europe and supports companies and countries in the region to meet their energy needs, in response to the challenges related to energy security and climate policies,” said the Emirati.
Mubadala is better known to the Romanian public for being a significant shareholder in the Austrian group OMV until February last year, when it transferred its 25% stake to the state-owned oil giant Abu Dhabi National Oil Company (ADNOC).
Rezolv Energy has very large projects in Romania
The Rezolv Energy platform has made significant progress since its launch, with approximately 750 MW of renewable energy projects under construction in Romania and Bulgaria, as well as an additional portfolio of 1.5 GW of projects in advanced stages of development, the Emirates shows.
In Romania, the company is already building the VIFOR wind farm, and the first 6.4 MW wind turbine in Romania was installed in the wind farm at the end of July, as the company announced at the time.
“The EnVentus Vestas V162 turbine has a tower height of 166 meters and a rotor diameter of 162 meters. With a capacity of 6.4 MW, it has the highest power output of all turbines in Romania.
Phase 1 of VIFOR will install 30 turbines with a capacity of 192 MW. The second phase of the project will add another 42 turbines, increasing capacity to 461 MW. It will generate enough electricity to power over 700,000 homes.
When fully operational, VIFOR will become the largest wind farm built in Romania in the last 10 years and one of the largest onshore wind farms in Europe,” the developer said at the time.
The farm is preparing to enter testing for its first phase.
Rezolv Energy has announced additional investments worth up to 331 million euros to support the construction of the second phase (269 MW) of the VIFOR wind farm. This stage will allow the project to operate at its maximum capacity of 461 MW. The second phase is scheduled to be operational starting in the fourth quarter of 2027.
The company is also developing a huge photovoltaic project in western Romania. Thus, the largest solar project, both in Romania and in Europe, is the 1,040 MW Dama Solar in Arad County, developed by Rezolv Energy.
