Econergy Renewable Energy Ltd. has announced the successful connection of its 52 megawatt solar project in Resko, north-western Poland, to the national electricity grid. This milestone marks the completion of a key infrastructure for the independent power producer, as part of a strategic energy partnership with Apple Inc. through a virtual power purchase agreement.
The project is owned by a joint venture between Econergy UK, a subsidiary 75.24% owned by the Israeli company, holding 51% of the site’s capital, and The Phoenix Insurance Company Ltd., which owns the remaining 49%. Econergy expects full commercial operation within 30 days, during which time the electricity feed into the grid will be gradually increased.
A long-term contract with Apple
Under the terms of the virtual power purchase agreement (vPPA) signed with Apple Inc., around 75% of the site’s electricity output will be purchased by the American technology group at a fixed price over a 19-year period. The remaining quarter of the energy generated will be sold on the wholesale market at prevailing rates, allowing partial exposure to market price fluctuations.
The contract signed with Apple is part of a series of similar agreements aimed at securing long-term revenues while ensuring financial visibility for the project. This economic model allows independent producers to strengthen their operational stability in a European energy context marked by price volatility.
DSO licence obtained to support expansion
Econergy UK has also secured a Distribution System Operator (DSO) licence from Poland’s Energy Regulatory Office (Urząd Regulacji Energetyki – URE). This authorisation will enable the company to connect future projects to the existing infrastructure at the Resko site, thereby strengthening its local deployment capacity.
Obtaining this licence gives Econergy increased flexibility to plan new energy developments in Poland, leveraging the network already in place. This technical and regulatory asset represents a strategic step in supporting the group’s growth ambitions in the Polish market.
Eyal Podhorzer, Co-Founder and Chief Executive Officer of Econergy Renewable Energy, stated that the site’s connection and the long-term agreement signed with Apple demonstrate “the strength of the group’s commercial strategy”.
