“Virtual Power Purchase Agreements are still a relatively new concept in South Eastern Europe but they are becoming an increasingly important facilitator of the energy transition. In this case, we can simultaneously contribute to decarbonization objectives and help Romania meet its climate targets. It's a win-win”, says Alastair Hammond, Rezolv's CEO.

The renewable energy generated, which could power around 73,000 households annually, will help avoid almost 63,000 tonnes of CO2 emissions. 

This is the sixth VPPA that Rezolv has signed since June. Together, these VPPAs equate to 460 GWh per year – more PPA capacity than any other developer has secured in South Eastern Europe.

It will help enable the construction of the first phase of the 461MW ‘VIFOR' wind farm, which Rezolv is building in Buzău County, Romania.

Phase 1 of the VIFOR project will install 192MW in capacity – Phase 2 will make a further 700GWh available to corporate buyers.