The development of the VIFOR wind farm accelerates. After securing financing, developers Rezolv Energy and Low Carbon announce the selection of Vestas as engineering, procurement and construction (EPC) partner for the first phase and securing the sale of output through cross-border virtual power purchase agreements (VPPAs) with three Deutsche Telekom Group companies. Phase 1 of the VIFOR wind farm foresees the installation of 192 MW of capacity, with an expansion to 461 MW planned for Phase 2.
Last month, the National Energy Regulatory Authority (ANRE) issued the establishment permit for the first phase of the VIFOR project. This was the last approval required. Construction is scheduled to be completed within 18 months and the VIFOR park will be operational by the end of 2025.
30 EnVentus Vestas V162 wind turbines
The first phase of the VIFOR project will consist of the installation of 30 EnVentus Vestas V162 wind turbines, each with a capacity of 6.4 MW. The turbines have a tower height of 166 metres and a rotor diameter of 162 metres.
“VIFOR will become one of the largest onshore wind projects in the region, contributing significantly to Romania’s energy transition ambitions,” said Nils de Baar, President of Vestas Northern and Central Europe.
VPPA for 100 GWh of clean energy per year for 12 years
T-Mobile Czech Republic, Telekom Slovakia and CE Colo Czech Republic, all part of the Deutsche Telekom Group, have signed cross-border Virtual Power Purchase Agreements (VPPAs), which will allow the first phase of the project to be built. The VPPAs provide for the purchase of 100 GWh of clean energy per year by the three companies for 12 years. T-Mobile Czech Republic has secured 50 GWh per year, Telekom Slovakia 40 GWh per year and CE Colo Czech Republic 10 GWh per year.
In the second phase, an additional 700 GWh per year will be available for corporate buyers.
The VPPA agreement is the first of its kind signed by Czech or Slovak companies and represents a significant step forward in Central and South-East Europe, where most previous PPAs were physical agreements requiring the producer and buyer to be in the same or neighbouring countries with connected networks. In contrast, a VPPA is a financial arrangement in which the buyer receives certificates certifying that the energy comes from a specific renewable source and clean energy is fed into the grid.
Financial loan of up to 291 million euros
Last week, Rezolv Energy and Low Carbon announced that they had secured financial loan facilities of up to 291 million euros to support the construction of Phase 1 from a consortium of 8 lenders led by Erste Group, UniCredit Group and the European Bank for Reconstruction and Development, as well as the International Finance Corporation (IFC), Intesa Sanpaolo Group, OTP Bank, Raiffeisen Bank International AG and Garanti BBVA Romania.
Once operational, VIFOR will be one of the largest onshore wind farms in Europe. Close to the Carpathian Mountains and benefiting from exceptional wind yields, the project will generate enough clean energy to power more than 270,000 households and avoid producing around 540,000 tonnes of CO2e annually. The project will support Romania in meeting its climate objectives and will play an important role in the region’s energy transition.
Rezolv Energy
Rezolv is an independent renewable energy producer that takes renewable energy projects – wind, solar and storage – from advanced development through construction and long-term operation.
With long-term investment support from Actis, one of the world’s leading energy investors, it is building a multi-GW portfolio that will help companies and countries meet their energy goals now and in the future.
Low Carbon
Low Carbon is a certified net-zero energy company and recognized as a B-Corporation, a gold standard for our environmental impact. It invests in, develops and operates solar, wind, energy storage and energy-from-waste projects in the UK, Europe and North America. It currently has over 16 GW of new renewable energy in development around the world.