Rezolv Energy and SCION Launch Nature and CleanTech Accelerator for Early-Stage Ventures in Bulgaria and Romania

In the last article in this series, we undertook a deep-dive into the ICT industry and why it – and the growth of data centres specifically – is so significant for the development of renewable energy in Central and Southeastern Europe.

Rezolv Energy, an independent power producer backed by Actis, has secured up to €90 million in debt financing from the International Finance Corporation (IFC) and Raiffeisen Bank International to support the construction of the ‘St. George’ solar park in north-eastern Bulgaria.

A2A, an Italian group active in the energy, water and environment sectors, has signed a 7-year Virtual Power Purchase Agreement (VPPA) with Rezolv Energy, an independent power producer backed by Actis.

In the last article in this series, we explored the regulations, directives and other EU initiatives which are – or will be – the most important in encouraging European companies to switch to buying more renewable power.

Ardagh Glass Packaging-Europe (AGP-Europe), an operating business of Ardagh Group, announced today that it has entered a long-term Virtual Power Purchase Agreement (VPPA) with Rezolv Energy’s St. George solar photovoltaic (PV) project in Bulgaria, securing renewable electricity for its glass manufacturing operations across Europe from April 2026.

Actis-backed Rezolv Energy has selected three companies – CMC Europe, Solarpro and Green Solar Energy – to build the 229MW ‘St. George’ solar park in Silistra Municipality in Northeastern Bulgaria. Construction work is due to start very shortly, with the plant coming onstream next year.

In the last article in this series, we took a deep-dive into the telecommunications industry, a sector which, according to industry estimates, accounts for 1-2% of all energy consumed globally – and which is amongst the fastest-growing for renewable energy power purchase agreements (PPAs).

In the last article in this series, we took the first of several deep-dives we will be taking into industry sectors which are heavily impacted by the energy transition – and which are driving demand for renewable energy power purchase agreements (PPAs) in Central & South Eastern Europe.

Bucharest, 4 July 2024: Rezolv Energy, the Actis-backed independent power producer in Central and Southeastern Europe, through their project subsidiary First Looks Solutions S.R.L., have signed a 10-year Virtual Power Purchase Agreement (VPPA) in Romania with Bekaert, a global leader in steel wire transformation and coating technologies.