Etem Gestamp and Rezolv Energy Sign Cross-Border Wind PPA in Bulgaria and Romania

Etem Gestamp, the Sofia-based joint venture between Viohalco Group and Spain’s Gestamp Group, focused on aluminium extrusion and processing for the automotive industry, and Rezolv Energy, the Actis-backed independent power producer, has signed a 10-year virtual power purchase agreement (VPPA) in Bulgaria. The VPPA will see Etem Gestamp buy electricity from Rezolv Energy’s 461MW ‘VIFOR’ wind farm, which is about to come onstream in Buzău County, Romania.

The deal marks Rezolv Energy’s first PPA in 2026 and the third such agreement for Etem Gestamp. In 2022, Etem Gestamp entered into a 10-year contract to purchase the entire output from a solar plant in Bulgaria that was still under development at the time. This arrangement was the first in the country where an industrial electricity user committed to buying all the renewable energy generated by a solar facility. The new wind virtual PPA with Rezolv Energy will add to this solar supply, helping Etem Gestamp better align and balance its overall electricity consumption.

The agreement represents Rezolv Energy’s seventh PPA across Romania and Bulgaria, and its second partnership with an automotive-related company. In 2024, Rezolv entered into a 10-year virtual PPA with Bekaert, a global leader in steel wire transformation and coating technologies with a strong presence in the automotive sector. Under that deal, Bekaert will purchase 100 GWh of electricity annually from the VIFOR wind farm, making it one of the largest PPAs ever concluded in Southeastern Europe. Rezolv Energy has also secured similar agreements with T-Mobile Czech Republic, Slovak Telekom, and Ardagh Glass Packaging Europe.