Rezolv Energy, the Actis-backed independent power, through their project subsidiary First Looks Solutions, have signed a 10-year Virtual Power Purchase Agreement (VPPA) in Romania with Bekaert, a global leader in steel wire transformation and coating technologies. This is one of the largest PPAs ever signed in the region.
The deal will see Bekaert buy 100 GWh of additional renewable power per year, reducing annual emissions by more than 41,000 tonnes of CO2e. The power will come from the 461MW VIFOR wind farm, which has been developed by Rezolv and Low Carbon in Buzău County, Romania.
The PPA represents a new milestone in Bekaert’s Sustainability strategy “Creating a better tomorrow”. From making a positive impact with its sustainable solutions and practices to building a diverse and inclusive future, Bekaert is determined to improve life and create value for all of its stakeholders. Through renewable energy projects like the VPPA in Romania, Bekaert increases the proportion of its renewable energy supply, reducing its carbon footprint as per its validated SBTi targets.
Once operational, VIFOR will be one of Europe’s largest onshore wind farms. 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 will avoid approximately 540,000 tonnes of CO2e annually. Phase 1 will install 192MW in capacity with planned expansion to 461MW in phase 2. Construction is scheduled to be completed within 18 months, with VIFOR coming onstream before the end of 2025.
