Etem Gestamp and Rezolv Energy Sign Bulgaria's First Cross-Border Wind VPPA

Etem Gestamp, a Sofia-based joint venture owned by Viohalco Group and Spain's Gestamp Group, has signed a ten-year virtual power purchase agreement (VPPA) with Rezolv Energy in Bulgaria. The deal, announced on 25 March 2026, covers electricity from the 461 MW Vifor wind farm, located in Buzău County, Romania. It is the first cross-border wind VPPA publicly announced in Bulgaria.

A First Cross-Border Wind Deal in Bulgaria

Rezolv Energy, an independent power producer backed by infrastructure fund Actis, is developing the Vifor wind farm, which is about to come onstream. For Etem Gestamp, a specialist in aluminium extrusion and processing for the automotive industry, this is the company's third power purchase agreement to date. In 2022, it signed a ten-year deal covering 100% of the electricity from a solar plant then under construction in Bulgaria — the first PPA in the country in which an industrial consumer committed to buying the entire green output of a facility. The new wind VPPA is designed to complement this solar supply, a pairing that reflects the broader evolution of renewable energy support mechanisms, as illustrated by recent proposals to adapt support schemes for large photovoltaic installations with storage.

The Vifor wind farm is the subject of several long-term supply contracts. In 2024, Rezolv Energy signed a ten-year VPPA with Bekaert, a global leader in steel wire transformation and coating technologies, covering 100 GWh of electricity per year from the same wind farm — one of the largest PPAs ever concluded in Southeastern Europe according to the company. Rezolv Energy has also contracted with T-Mobile Czech Republic, Slovak Telekom, and Ardagh Glass Packaging-Europe. This momentum reflects a broader acceleration of renewable capacity development and its supply chains, as illustrated by projects such as the installation of the first turbine at the Hai Long project using a locally assembled nacelle in Taiwan.

A Target of 70% Renewable Energy by 2027

Etem Gestamp says it aims to source approximately 70% of its energy mix from renewable sources by 2027. The combination of a solar PPA in Bulgaria and a wind VPPA on production from Romania is designed to balance the company's electricity consumption profile and reduce the environmental footprint of its operations. Electrification of industrial processes and energy efficiency are cited among the priorities in its transformation strategy.

This is Rezolv Energy's seventh VPPA in the region and its second with a company from the automotive sector, following the agreement signed with Bekaert in 2024. For Etem Gestamp, the new deal is part of a broader effort to decarbonise the automotive industry's supply chain, in which the company operates as a joint venture.