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Czech Republic

Rezolv in vPPA deals for 100 GWh with Deutsche Telekom cos

Jun 20, 2024, 2:08:46 PMArticle by Bogdan Todasca
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June 20 (SeeNews) - Central and Southeast Europe-focused renewable energy producer Rezolv Energy said on Thursday that it has signed 12-year cross-border virtual Power Purchase Agreements (vPPAs) with three companies of Deutsche Telekom Group for a cumulative 100 GWh of clean power per year.

Rezolv in vPPA deals for 100 GWh with Deutsche Telekom cos
Courtesy of Vestas Wind Systems A/S.

The power will be sourced from Rezolv’s and UK investment company Low Carbon’s 461 MW Vifor wind farm in Romania’s southeastern county of Buzau, with the vPPAs enabling the construction of the first phase of the project, Rezolv said in a press release.

Through the deals, T-Mobile Czech Republic has secured 50 GWh per year, Slovak Telekom - 40 GWh, and CE Colo Czech Republic - 10 GWh.

In the second phase of the Vifor wind project, 700 GWh per year will be available to corporate buyers.

“These are the first cross-border virtual PPAs that have been signed by Czech or Slovak companies, and they are an important signal to other businesses in these two countries. They do not need to wait for renewable energy capacity to start coming onstream in volume in their home market,” Rezolv Energy CEO, Alastair Hammond, said.

Unlike power purchase agreements (PPAs) which require connected grids and proximity between the buyer and producer, VPPAs are financial arrangements whereby the buyer receives certificates which guarantee that the energy comes from a specific renewable source.

The initial phase will bring the installed capacity of the Vifor project to 192 MW, before expanding to 461 MW in the second phase. Once operational, the Vifor wind farm will be able to power over 270,000 homes with clean energy, reducing CO2 emissions by approximately 540,000 tonnes.

Last week, Rezolv and Low Carbon secured loan facilities of up to 291 million euro ($312.1 million) for the construction of the first phase of the Vifor wind farm. The two companies partnered with Danish turbine manufacturer Vestas to install 30 wind turbines of 6.4 MW each. Romanian power infrastructure company Electromontaj also won a tender which will see it partner with Vestas for the design and execution of connections to the national grid of the new Vifor wind farm.

Established 18 months ago by UK infrastructure investor Actis, Rezolv Energy already has well over 2 GW of clean energy being prepared for construction in Southeastern Europe. Besides the Vifor wind farm, projects include the 1,044 MW Dama Solar in western Romania, the 600 MW Dunarea East & West Wind Farms in Romania’s Constanța County, and St. George, a 229 MW solar project in northeastern Bulgaria.

($=0.9323 euro)

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