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Rezolv signs PPA with steel wire firm Bekaert

RICHARD HEAP

July 5, 2024

Rezolv Energy has signed a 10-year deal to supply steel wire coatings company Bekaert with electricity from the 461MW Vifor wind farm in Buzau County, Romania.

Rezolv is developing the project with Low Carbon, and last month secured €291m funding for the 192MW first phase of the complex. Construction on that first phase is underway and is due to conclude by the end of 2025.

This virtual power purchase agreement with Bekaert is for 100GWh of renewable energy per year.

Alastair Hammond, chief executive at Rezolv Energy, said: “We are proud to be contributing to Bekaert’s decarbonisation objectives through this VPPA. By signing it, Bekaert is also enabling the first phase of the VIFOR project, a large-scale wind farm which will play a significant role in Romania’s energy transition. Phase 2 will help us meet even more of the widespread corporate demand for clean power.”

Michael Hamilton, vice president of commodities at Bekaert, said: “This agreement not only enhances our existing renewable energy portfolio but also exemplifies our commitment to sustainability and creating value for all of our stakeholders. By integrating renewable energy sources into our operations, we are taking significant steps towards a greener future for our company and the customers we serve.”

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