Swiss renewable energy trader Axpo has facilitated a pioneering corporate power purchase agreement (PPA) with Austria’s leading energy company VERBUND and a multinational automotive supplier in Romania.
Under the agreement, the manufacturer’s production plants in the country will be supplied with 100 per cent green energy from the VERBUND wind farm in Casimcea, near the Romanian Black Sea coast.
“This Corporate PPA is a major milestone in our partnership with VERBUND,” commented Radu Rat, Managing Director of Axpo Energy Romania. “Since our cooperation began in late 2016, we have supported the company in supplying numerous Romanian industrial customers with green energy. In this PPA, Axpo and VERBUND once again underlined their role as forerunners in marketing renewable energies and signing complex PPAs for energy-intensive large corporates in Romania. It demonstrates that Romania not only has a lot of green energy potential but also that its energy transition is well underway.”
Indeed, Axpo has a long-term strategic partnership with VERBUND and enabled an agreement, which is unique both in the wider Central and South-Eastern European energy market and Romania itself. From 2021 until the end of 2026, the corporate PPA will see VERBUND Wind Power Romania supply the automotive company with 100 per cent green electricity amounting to 70 gigawatt-hours (GWh) a year. The first long-term Corporate PPA for renewable energies with an industrial company in the country, the deal is backed by Guarantees of Origin (GoO) from one of Europe’s largest onshore wind farms, which comprises 88 wind turbines with a total installed capacity of 226 megawatts (MW).
“This long-term Corporate PPA is a big milestone for VERBUND and in line with our strategic vision of long-lasting partnerships,” added Markus Kienler, Managing Director of VERBUND Wind Power Romania. “The PPA is key to hedging the revenues we generate from our operating wind farm in Casimcea. In doing so, it will make a substantial contribution to the financial stability of our renewable energy business in Romania. We look forward to continuing our cooperation with Axpo.”
