International renewable energy producer Rezolv Energy and manufacturer Ardagh Glass Packaging-Europe (AGP-Europe) have entered a solar virtual power purchase agreement (VPPA).
The VPPA covers Rezolv Energy’s planned Bulgarian 229MW St George solar project, which will provide renewable electricity to AGP-Europe’s manufacturing plants across the continent. The solar park will be built on a 165ha brownfield site and have 400,000 PV panels.
Once online, St George will be one of Bulgaria’s largest solar sites. Over 12 years it will provide 110GWh per annum to AGP-Europe. The manufacturer also receives renewable energy from Swedish wind power, setting a sustainable precedent for AGP-Europe’s operations and allowing it to achieve over 80% of its clean energy goals for 2030.
The VPPA is one of the first of its kind to be signed in Bulgaria and has been enabled through the country’s membership to the Association of Issuing Bodies (AIB); its Guarantees of Origin can trade across the continent.
This membership will also enable Bulgaria to meet its goal of decarbonising its energy grid.
AGP-Europe chief executive Martin Petersson comments on the announcement: “We are pleased to have finalised this agreement in just six months, which is largely due to Rezolv’s flexibility, the support and technical know-how of Schneider Electric, and our own experience in this field.
“The Bulgarian solar project perfectly meets our aim to diversify the locations of our renewable energy supply and to support emerging energy markets: AGP-Europe benefits from a supply of renewable electricity, while helping Bulgaria’s transition to low-carbon energy.”
