Rezolv Energy-Bekaert 10-year VPPA in Romania

Rezolv Energy, an independent power producer in Central and South-Eastern Europe, supported by Actis, through its subsidiary First Looks Solutions, has signed a 10-year Virtual Power Purchase Agreement (VPPA) in Romania with Bekaert, a world leader in steel wire processing and coating technologies. This is one of the largest PPAs ever signed in the region.

The agreement will enable Bekaert to purchase 100 GWh of additional renewable energy per year, which will reduce annual emissions by more than 41,000 tons of CO2e. The energy will come from the 461 MW “Vifor” wind farm, which was developed by Rezolv and Low Carbon in Buzau County, Romania.

The PPA represents a new milestone in Bekaert’s sustainability strategy “Creating a Better Tomorrow”. From driving positive impact through sustainable solutions and practices to building a diverse and inclusive future, Bekaert is committed to improving lives and creating value for all its stakeholders. Through renewable energy projects such as the VPPA in Romania, Bekaert is increasing the share of its renewable energy supply, reducing its carbon footprint in line with approved SBTi targets.

“We are delighted to sign this exciting project in Romania with Rezolv. This agreement not only strengthens our existing renewable energy portfolio, but also exemplifies our commitment to sustainability and creating value for all our stakeholders. By integrating renewable energy into our operations, we are taking significant steps towards a greener future for our company and the customers we serve,” said Michael Hamilton, Vice President, Commodities at Bekaert.

“We are proud to be contributing to Bekaert’s decarbonization goals through this VPPA. By signing it, Bekaert is also enabling the first phase of the Vifor project, a large-scale wind farm that will play a significant role in Romania’s energy transition. Phase 2 will help us meet even greater corporate demand for clean energy across the board,” added Alastair Hammond, CEO of Rezolv Energy.