First sleeved PPA deal in Bulgaria

Telecommunication service provider A1 Bulgaria and domestic clean energy investment group Renalfa have signed a long-term power purchase agreement (PPA) for solar energy.

A photovoltaic plant in south Bulgaria with a peak capacity of 33 MW is set to supply A1 Bulgaria with 20 GWh of electricity per year for the next ten years. The mobile carrier signed the power purchase agreement or PPA with clean energy and e-mobility investment group Renalfa, which installs solar power plants and provides operations and maintenance services.

Renalfa will also provide the so-called sleeving service to A1 via its subsidiary Toki.bg. Sleeving is the process of transforming the pay-as-produced PV profile of the generation project into the consumption schedule of the telecom through the electricity market. This is the first such agreement on the Bulgarian market.

With a sleeved PPA, the buyer gets electricity through an intermediary which handles the transfer of both energy and money, bears the wholesale price change risk and is responsible for buying balancing power.

Corporate PPAs are the backbone of the clean energy transition, Executive Director of Renalfa Yuri Katanov said and said A1 pioneered an innovative business model. “Corporate PPAs provide competitive advantage to companies by securing long-term energy supply at a fixed price as compared to the volatile energy markets. At the same time this energy is clean and with proven RES origin, which significantly reduces the carbon footprint of the companies, contributes to safer and cleaner environment and increases their ESG (environmental, social and governance) ratings,” he added.

See the full article here: https://balkangreenenergynews.com/a1-bulgaria-signs-solar-ppa-with-renalfa/

Photo: Renalfa

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