Renewables

Belgian steel wire company inks virtual PPA for wind farm in Romania

bekaert rezolv ppa romania vifor

Photo: wal_172619 from Pixabay

Published

July 5, 2024

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Published:

July 5, 2024

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Steel wire transformation and coatings producer N.V. Bekaert has secured 100 GWh from a wind farm in Romania under a power purchase agreement.

Belgium-based N.V. Bekaert employs 28,000 people in 45 countries around the world.

The company said it has signed a 10-year virtual power purchase agreement (vPPA) in Romania with First Looks Solutions S.R.L., a project firm established by Rezolv Energy.

According to Bekaert, it is one of the largest PPAs ever signed in the region.

Vifor wind farm is scheduled to come online by the end of 2025

With 100 GWh of additional renewable power per year, annual emissions will be reduced by more than 41,000 tonnes of CO2, the firm added. The power will come from the Vifor wind farm project, developed by Rezolv and Low Carbon in Buzău County, northeast of capital Bucharest.

Of note, three weeks ago Rezolv Energy and Low Carbon obtained a loan package of up to EUR 291 million to support the construction of phase 1 of the Vifor wind farm.

The capacity of the first part is envisaged at 192 MW. The wind farm is scheduled to come online by the end of 2025. The full capacity, 461 MW, would be reached in phase 2. Rezolv pointed out that, once fully operational, Vifor would be one of Europe’s largest onshore wind farms.

Rezolv: Phase 2 of the Vifor project will help us meet even more of the widespread corporate demand for clean power

Bekart said the PPA represents a new milestone in its sustainability strategy Creating a Better Tomorrow. According to Michael Hamilton, the company’s Vice President for Commodities, the agreement doesn’t only enhance its renewable energy portfolio but also exemplifies commitment to sustainability.

Alastair Hammond, Rezolv Energy CEO, said Bekaert is enabling the first phase of the Vifor project. “Phase 2 will help us meet even more of the widespread corporate demand for clean power,” he stressed.

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