SOUTH EASTERN EUROPE: The giant Bekaert and Resolv Energy sign a European wind energy agreement of 100 GWh in Romania, one of the largest in the region
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Resolv Energy, independent power producer supported by Actis in Central and South Eastern Europe, through its project subsidiary First Looks Solutions S.R.L., has signed a 10-year virtual power purchase agreement (VPPA) in Romania with Bekaert, the leader global leader in steel wire transformation and surface coating technologies, according to a press release
This is one of the largest Power Purchase Agreements (PPAs) ever signed in the region. The agreement provides for Bekaert to purchase 100 GWh of additional renewable energy per year, reducing emissions by more than 41,000 tons of CO2 per year.
The energy will come from the VIFOR wind farm, with a capacity of 461 MW, developed by Rezolv and Low Carbon in Buzau County, Romania.
The Power Purchase Agreement (PPA) represents a new milestone in Bekaert’s sustainability strategy “We are creating a better future”, the press release states.
“From making a positive impact with its sustainable solutions and practices to building a diverse and inclusive future, Bekaert aims to contribute to a better life and create added value for all its partners. Through renewable energy projects like this VPPA in Romania, Bekaert increases the proportion of renewable energy it supplies, reducing its carbon footprint according to the assumed SBTi objectives”, says the wire producer.
Michael Hamilton, Vice President of Commodities, Bekaert, said: “We are delighted to sign this exciting project in Romania with Resolv. This agreement not only enhances our existing renewable energy portfolio, but also exemplifies our commitment to sustainability and value creation for all our partners. By integrating renewable energy sources into our operations, we are taking significant steps toward a greener future for our company and the customers we serve.”
Alastair Hammond, CEO of Rezolv Energy, said: “We are proud to contribute to Bekaert’s decarbonisation goals through this virtual power purchase agreement (VPPA). By signing it, Bekaert also contributes to the completion of the first phase of the VIFOR project, a large-scale wind farm that will play a significant role in Romania’s energy transition. Phase two will further help us meet the growing demand for clean energy from corporations.”
Once operational, VIFOR will be one of the largest onshore wind farms in Europe. Close to the Carpathian Mountains and benefiting from exceptional wind yields, the project will generate enough clean energy to power more than 270,000 homes and avoid the production of approximately 540,000 tonnes of CO2e annually. Phase 1 of the project sees the installation of 192 MW of capacity, with an expansion to 461 MW planned in Phase 2. Construction is scheduled to be completed within 18 months, with VIFOR expected to become operational before the end of 2025.
.Founded in 1880, with headquarters in Belgium, Bekaert (Euronext Brussels, BEKB) is a global company whose 24,000 employees worldwide generated combined sales of 5.3 billion euros in 2023. The company is also present in Romania , through a steel cable factory in Slatina.
