The Belgian company Bekaert, specializing in materials science, steel wire processing, and surface coating technologies, has signed a Virtual Power Purchase Agreement (VPPA) to buy 100 GWh of electricity from the wind farm that Rezolv Energy, owned by the British investment fund Actis, is going to develop in Romania.
“This agreement not only enhances our existing renewable energy portfolio but also exemplifies our commitment to sustainability and value creation for all our stakeholders. 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,” said Michael Hamilton, Vice President of Commodities, Bekaert.
The 100GWh will be delivered over ten years.
The contract is one of the largest in the region. Based on an effective average production of 25% of its capacity (461MW) and constant deliveries over ten years, the contract involves 1% of the power generated by the wind farm.
The energy contracted by Bekaert will come from the VIFOR wind farm, with a capacity of 461MW, developed by Rezolv and Low Carbon in Buzau County, Romania.
Once operational, VIFOR will be one of the largest onshore wind farms in Europe and will generate enough clean energy to power more than 270,000 homes.
Phase 1 of the project provides for the installation of 192MW of capacity, with an expansion to 461MW planned in Phase 2. Construction is scheduled to be completed within 18 months, with VIFOR expected to become operational before the end of 2025.
iulian@romania-insider.com
(Photo source: the company)
