Monday, 30 March 2026
Etem Gestamp and Rezolv Energy have signed a 10-year virtual power purchase agreement (VPPA) covering electricity from the VIFOR wind project in Romania. The agreement will see the Sofia-based manufacturer procure power for its operations in Bulgaria from the 461 MW wind farm located in Buzău County, which is approaching commissioning.
The transaction represents the first publicly announced cross-border wind PPA involving Bulgaria. It is also Rezolv Energy’s first agreement of 2026 and the third PPA signed by Etem Gestamp.
Under the agreement, electricity generated at the VIFOR project will contribute to reducing the environmental footprint of Etem Gestamp’s industrial operations. The company previously entered into a 10-year agreement in 2022 to purchase the full output of a solar plant in Bulgaria. The addition of wind generation is intended to complement this supply and support a more balanced energy consumption profile.
The company stated that the agreement supports its broader transition in manufacturing, including increased electrification, improved energy efficiency and greater use of renewable energy sources. It expects that renewable energy could account for around 70 percent of its energy mix by 2027.
The partnership is also intended to contribute to emission reductions across the automotive supply chain, where both companies are active.
For Rezolv Energy, the agreement is its seventh PPA across Romania and Bulgaria and its second with an automotive-related company. In 2024, it signed a 10-year VPPA with Bekaert for approximately 100 GWh of electricity per year from the same wind project. The company has also concluded agreements with T-Mobile Czech Republic, Slovak Telekom and Ardagh Glass Packaging-Europe.
