Romania, Low Carbon is planning to build Vis Viva wind project03.Oct 2022.
UK-based renewable energy company Low Carbon, in cooperation with Rezolv Energy, is planning to build Vis Viva wind project in Romania.
Located in Buzao County, the 450 MW project will be the second largest onshore wind farm in the country behind the Fantanele-Cogealac. The project is in the planning phase since 2020 and it is expected for the financial structure for the project to be closed in 2023.
Once operational, the wind farm will be able to supply electricity to 272,000 households and avoid approximately 180,000 tons of CO2 emissions each year.
Rezolv Energy, recently launched by Actis, has acquired a 51 % stake in the project. Although Rezolv is newly-formed, its leadership team has previously developed and run a portfolio of energy projects in central and southeastern 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 bloc seeks to expedite its transition to clean energy.
It is the first foray into Romania for Low Carbon and marks the latest addition to the company’s growing international portfolio, underpinning the renewable energy investor’s commitment to scaling-up via growth into Europe and selected global markets. Low Carbon has been stewarding the Vis Viva project since 2020, when the investor first entered the transaction with local developers and Nero Renewables NV.