May 25 (SeeNews) - Hrvatski Telekom [ZSE:HT] said on Thursday it signed a ten-year Virtual Power Purchase Agreement (vPPA) for the supply of electricity from renewable sources with Liburana, a fully-owned subsidiary of renewable energy company Professio Energia [ZSE:DLPR].
Under this first corporate vPPA in Croatia, Liburana will supply the telco with some 50 GWh of electricity generated at a wind power plant that will be built at the Mazin Gracac location, Hrvatski Telekom said in a press release.
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Through the contract, Hrvatski Telekom will cover a significant portion of its energy needs with electricity produced from renewable sources at a fixed long-term price and with regular delivery, Hrvatski Telekom CEO Kostas Nebis said.
No financial details of the agreement were disclosed.
The wind power plant at Mazin Gracac will start operations in the last quarter of 2024, Hrvatski Telekom said earlier.
Shares of Hrvatski Telekom traded 0.81% lower at 24.50 euro ($26.3) on the Zagreb bourse by 1323 CET on Thursday.
The shares of Professio Energia were listed on the Zagreb Stock Exchange (ZSE) in October 2019 but have not traded yet.
($ = 0.932116 euro)
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