The agreement is Rezolv Energy's first PPA of 2026 and Etem Gestamp's third PPA overall. In 2022, the company signed a 10-year deal to buy 100% of the electricity produced by a solar plant which was then still under construction in Bulgaria. The new wind VPPA with Rezolv Energy will complement this supply of solar power and allow Etem Gestamp to balance its electricity consumption profile.

This agreement reinforces Etem Gestamp's commitment to transforming its industrial processes and advancing towards more sustainable production. The company expects that by 2027, around 70% of its energy mix will come from renewable sources. The deal is Rezolv Energy's seventh PPA in Romania and Bulgaria, and the second with a company from the automotive sector.

Once fully operational, Vifor will be one of Europe's largest onshore wind farms. Close to the Carpathian Mountains and benefiting from wind yields, the project will generate enough clean energy to power more than 270,000 homes and will avoid approximately 540,000 tonnes of CO2e annually.

Nikolay Stoynov, Business Services Director, Etem Gestamp, said: "This agreement represents a milestone in Etem Gestamp's decarbonisation journey. We selected Rezolv Energy because of its strong regional presence, approach to sustainability, and ability to provide long-term, reliable access to clean power." Alastair Hammond, CEO, Rezolv Energy, said: "With wind capacity still limited in Bulgaria, the cross-border VPPA model provides a way for Bulgarian companies to access wind power from other countries in Southeastern Europe and help accelerate the energy transition in the region."