March 9 (SeeNews) - Bulgarian clean energy and e-mobility investor Renalfa said on Wednesday that it has signed a power purchase agreement (PPA) to supply renewable electricity to A1 Bulgaria, a unit of A1 Telekom Austria Group, for the next ten years.
Under the PPA, A1 Bulgaria stands to receive 20 000 MWh of green power per year, to be generated by a 33-MWp photovoltaic (PV) plant which Renalfa owns in southern Bulgaria.
In what is the first sleeving agreement on the Bulgarian market, Renalfa subsidiary Toki.bg will be in charge of transforming the pay-as-produced PV profile of the generation project into the consumption schedule of the telecom through the electricity market, Renalfa said in a statement.
"Corporate PPAs provide competitive advantage to companies by securing long-term energy supply at a fixed price as compared to the volatile energy markets. At the same time this energy is clean and with proven RES origin, which significantly reduces the carbon footprint of the companies, contributes to safer and cleaner environment and increases their ESG (environmental, social and governance) ratings," Renalfa executive director Yuri Katanov noted.
"The signed PPA for solar energy is a significant step for A1 Bulgaria on the path to clean energy transition. As a leading communications operator it is our obligation to drive a green and digital transformation with our expertise," the Bulgarian company's chairman and CEO Alexander Dimitrov said.
Renalfa invests in in solar, wind, energy storage and Power-to-X (P2X) projects in eastern Europe. Its fully-digital subsidiary Toki brings together renewable energy buyers and sellers and operates in Bulgaria and North Macedonia under electricity trading licences. Its client base exceeds 5,000 companies.