Rezolv Energy and Bekaert sign 10-year renewable power deal

Green Forum
Rezolv Energy, an independent power producer backed by Actis in Central and Southeastern Europe, has signed a 10-year Virtual Power Purchase Agreement (VPPA) in Romania with Bekaert, a global leader in steel wire transformation and coating technologies, through their project subsidiary First Looks Solutions S.R.L. 

This agreement, one of the largest PPAs in the region, will provide Bekaert with 100 GWh of additional renewable power annually, reducing their annual emissions by over 41,000 tonnes of CO2e. The renewable power will be sourced from the 461MW 'VIFOR' wind farm in Buzău County, Romania, developed by Rezolv and Low Carbon.

This PPA marks a significant milestone in Bekaert's sustainability strategy, "Creating a Better Tomorrow." Committed to making a positive impact through sustainable solutions and practices, Bekaert aims to build a diverse and inclusive future, improving life and creating value for all stakeholders. Projects like the VPPA in Romania increase Bekaert's renewable energy supply, helping to reduce its carbon footprint in line with its validated SBTi targets.

Once operational, VIFOR will be one of Europe's largest onshore wind farms. Located near the Carpathian Mountains and benefiting from excellent wind conditions, the project will generate enough clean energy to power over 270,000 homes and avoid approximately 540,000 tonnes of CO2 annually. Phase 1 will install 192MW of capacity, with expansion to 461MW planned for Phase 2. Construction is expected to be completed within 18 months, with VIFOR becoming operational before 2025.

Green Forum  |  15 July, 2024 at 11:00 AM
Green Forum  |  15 July, 2024 at 10:00 AM