T-Mobile Czech Republic, Slovak Telekom, and CE Colo Czech Republic, all part of Deutsche Telekom Group, have entered into cross-border virtual power purchase agreements (vPPAs) with Actis-backed Rezolv Energy. These agreements are set to source power from the upcoming 461MW VIFOR wind farm developed by Rezolv and Low Carbon in Buzău County, Romania.
The vPPAs pave the way for the construction of the wind farm's initial phase, with subsequent phases aiming to supply an additional 700GWh annually to corporate buyers. Under the terms, T-Mobile Czech Republic will procure 50GWh per year, Slovak Telekom 40GWh, and CE Colo Czech Republic 10GWh, totaling 100GWh annually for a duration of 12 years.
“This is a further step in our decarbonisation journey,” Pavel Hadrbolec, CFO at T-Mobile Czech Republic and Slovak Telekom, commented. “The deal also brings us relevant risk diversification to our energy procurement strategy and energy prices hedging.”
Alastair Hammond, CEO of Rezolv Energy, highlighted the significance of these agreements, stating, “These are the first cross-border virtual PPAs signed by Czech or Slovak companies, and they are an important signal to other businesses in these two countries.” He added, “The widespread corporate demand for green electricity can therefore be met now.”
The VIFOR wind farm's phase 1 will initially install 192MW capacity, with expansion plans reaching 461MW in phase 2. Construction is anticipated to conclude within 18 months, aiming for operational readiness by late 2025. The project is committed to meeting the highest international sustainability standards, ensuring a positive long-term environmental impact.
Recently, a consortium of lenders led by Erste Group, UniCredit Group, and the European Bank for Reconstruction and Development secured finance loan facilities totaling €291 million to support phase 1 construction of the VIFOR project. This financing underscores the growing momentum towards renewable energy investments in the region.
