Austria-based Enery signed two VPPAs with three companies from Orange Romania Group. Both parties arranged similar deals before in Romania.
Members of Orange Romania Group signed two virtual power purchase agreements (VPPAs), following a similar contract with Engie in August. The new green electricity provider is Austria-based Enery, which said the deal is for Orange Romania, Orange Romania Communications and NextGen Communications.
Under a VPPA, the consumer buys electricity in the market, but under a financial arrangement with the producer. One of the agreements is “a pioneering virtual cross-border PPA, an innovation in the Eastern European region,” Enery said.
It left out the details except that it committed to supplying 70 GWh per year. Orange, formerly known as France Télécom, controls the Romanian telecommunications operator.
Enery is planning to build a 535 MW solar power plant in Romania
“The collaborations with the Orange Romania Group underscore our unwavering dedication to supporting businesses on their journey toward decarbonization. Our mission is to join forces with our partners in shaping a more sustainable energy landscape, while inspiring others to embark on bold initiatives for a greener future,” Chief Commercial Officer of Enery Severin Vartigov said.
The firm is active in Central and Eastern Europe. It has an operational green electricity portfolio of 312 MW, generating 440 GWh per year. The company said it is developing projects of an overall 7 GW.
Among them, it is planning a photovoltaic park of 535 MW in Giurgiu in south Romania under its joint venture Enery Element, with Element Power RE. The Baboia investment is estimated at more than EUR 400 million.
The Austrian firm is controlled by the Three Seas Initiative Investment Fund (3SIIF), which has Amber Infrastructure as investment advisor.
Enery signed a virtual PPA with Asahi’s Romanian subsidiary Ursus Breweries in July. With a rising number of companies that wish to prevent the impact of electricity price volatility, the country’s PPA market is picking up. In turn, it attracts investments in wind and solar power plants.