T-Mobile Czech Republic, Slovak Telekom and CE Colo sign pioneering cross-border virtual PPA with Rezolv Energy

On June 19th 2024 T-Mobile Czech Republic, Slovak Telekom and CE Colo Czech Republic, all part of the Deutsche Telekom Group, have signed cross-border virtual Power Purchase Agreements (VPPAs) with Actis-backed Rezolv Energy, the Prague-headquartered renewable energy producer. These are the first cross-border VPPAs that have been signed by Czech or Slovak companies. The power will come from the 461MW ‘VIFOR’ wind farm, which has been developed by Rezolv and Low Carbon in Buzău County, Romania, with the VPPAs enabling the construction of the first phase of the project. In the second phase, a further 700GWh per year will be available for corporate buyers.

The VPPAs will see the three firms buy 100GWh of clean power per year for 12 years. T-Mobile Czech Republic has secured 50GWh per year, Slovak Telekom 40GWh per year and CE Colo Czech Republic 10GWh per year.

The VPPAs represent a significant step forward in Central & Southeastern Europe, where most previous PPAs have been physical agreements requiring the buyer and producer to be in the same or neighbouring countries with connected grids. In contrast, a VPPA is a financial arrangement where the buyer receives certificates verifying that the energy came from a specific renewable source, with the clean power being fed into the grid.

>> Read more at rezolv.energy