Rezolv Energy and Etem Gestamp Sign Cross-Border VPPA for Vifor Wind Farm
Rezolv Energy has signed a landmark 10-year virtual power purchase agreement (VPPA) with Etem Gestamp, marking the first cross-border wind power deal in Bulgaria. This agreement supports Etem Gestamp's goal of sourcing 70% of its energy from renewables by 2027, thereby enhancing its sustainability efforts within the automotive sector.
Etem Gestamp has secured a 10-year VPPA with Rezolv Energy for electricity from the 461 MW Vifor wind farm in Romania, the first of its kind in Bulgaria. This agreement aligns with Etem's strategy to achieve a renewable energy mix comprising 70% by 2027 and complements its existing solar power procurement.
AI-curated by TheiaThe Vifor wind farm, expected to generate enough energy for over 270,000 homes and reduce carbon emissions by 540,000 tonnes annually, represents a significant step in the decarbonization of industrial operations. Rezolv Energy's portfolio includes 2.3 GW of wind and solar capacity in Romania and Bulgaria, underscoring its regional influence in renewable energy. The VPPA model may encourage more Bulgarian companies to pursue similar agreements, potentially accelerating renewable energy adoption in Southeastern Europe.
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