March 15 (SeeNews) - Bulgarian mobile phone operator Yettel and telecoms infrastructure provider Cetin Bulgaria have signed a 10-year power purchase agreement (PPA) with Electrohold, the energy arm of Eurohold Bulgaria [BUL:EUBG], the parties to the deal said on Wednesday.
Under the agreement, Yettel and Cetin, which are part of Czech PPF Group, will cover the main part of their energy consumption with electricity generated from a 123 MW solar photovoltaic (PV) park, the companies said in a joint statement.
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The solar park is slated for completion this spring.
Electrohold power trading subsidiary Electrohold Trade will be in charge of the overall management of the purchase and implementation of the delivery.
The deal is one of few existing long-term PPA transactions in Bulgaria at freely negotiated prices and is the first step in Yettel's decarbonisation plans and ESG strategy.
"The contract will guarantee stable and predictable income for investors and lenders on the one hand, and competitive prices and fixed electricity costs for the customer on the other hand," Electrohold CEO Karel Kral said.
Yettel has been active in Bulgaria for two decades and has over 180 retail stores, with its mobile network covering 99% of the country's territory. Cetin Bulgaria is part of Czech Cetin Group, the Yettel network owner and telecoms services wholesaler.
In March 2022, mobile network operator A1 Bulgaria, a unit of A1 Telekom Austria Group, signed a PPA with Renalfa to receive power from a 33-MWp solar plant which Renalfa owns in southern Bulgaria.