Econergy connects 52 MW Resko solar project under Apple vPPA

Econergy Renewable Energy Ltd. has successfully connected its 52 MW Resko solar project in Poland to the national electricity grid.

The project is owned by a partnership in which Econergy UK (a subsidiary 75.24% owned by Econergy Renewable Energy Ltd.) holds 51% and The Phoenix Insurance Company Ltd., which holds the remaining 49%. The project is expected to reach full commercial operation within 30 days. A Virtual Power Purchase Agreement (vPPA) was signed with Apple Inc., under which Apple will purchase approximately 75% of the project’s electricity output at a fixed price for 19 years from the start of commercial operation. The remaining 25% of energy generation will be sold on the wholesale market at prevailing prices.