Etem Gestamp has signed a 10-year virtual power purchase agreement with Rezolv Energy to source electricity from the 461 MW VIFOR wind farm in Romania. The cross-border deal, the first publicly announced wind PPA in Bulgaria, complements Etem Gestamp's existing solar PPA to supply its automotive aluminium processing operations.
Etem Gestamp, a Sofia-based aluminium extrusion joint venture between Viohalco Group and Gestamp Group, has signed a 10-year virtual power purchase agreement with Rezolv Energy to source electricity from the 461 MW VIFOR wind farm in Buzău County, Romania, according to an official announcement. The agreement is the first cross-border wind PPA publicly announced in Bulgaria.
Rezolv Energy is an Actis-backed independent power producer operating in Southeastern Europe. The VIFOR wind farm is scheduled to come onstream shortly. The VPPA is Rezolv Energy's seventh PPA in Romania and Bulgaria, and its second with an automotive sector company, following a 2024 agreement with Bekaert for 100 GWh annually from the same wind farm.
Etem Gestamp's previous renewable procurement includes a 2022 solar PPA, the first in Bulgaria where an industrial consumer agreed to purchase 100% of output from a solar plant under construction. The new wind VPPA will complement solar supply to balance the company's electricity consumption profile. Etem Gestamp expects approximately 70% of its energy mix to come from renewable sources by 2027.
This development matters for the European automotive supply chain, where component manufacturers face increasing pressure to decarbonise operations. Cross-border PPAs offer flexibility for industrial consumers in markets with limited domestic renewable generation capacity. For the renewable energy industry, the agreement demonstrates the maturity of VPPA structures in Southeastern Europe.
Stakeholders including automotive OEMs, renewable developers, and industrial electricity consumers stand to benefit from expanded cross-border green power procurement options.
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