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Renalfa considers short-term PPAs in eastern Europe

Renalfa considers short-term PPAs in eastern Europe

Date: March 28th 2023

Author: Yana Palagacheva

Category: En.vision

Topic: Electricity , Renewables

The Vienna-based clean energy investment group Renalfa could close more power purchase agreements (PPAs) in eastern Europe, its spokesman Nick Antonov told Montel on Tuesday.

However, closing longer-term PPAs in the region is challenging due to high power price volatility.

“Currently, market participants are looking at shorter PPAs of between one and three years. But the overall interest in such contracts is definitely growing,” noted Antonov.

Last year, the company signed a 10-year solar PPA with telecommunication provider A1 Bulgaria for an annual supply of 20 GWh.

Renalfa is a growing renewable energy player in central and eastern Europe, particularly in Bulgaria, Hungary, Poland, North Macedonia and Romania. It owns 450 MW of renewable energy capacity that is either operational or under construction and it has a further 1 GW of capacity in its project development pipeline.

Recent projects

Earlier this week, the company announced the purchase of the 72.5 MW Vetrocom wind farm in Bulgaria from Swiss trading firm Alpiq. The deal comes as Renalfa looks to expand its renewables market presence beyond solar battery and panel systems.

“We are mostly focused on developing our own projects, but the Vetrocom purchase was a great opportunity for us to diversify our renewable portfolio,” Antonov said.

“Acquiring working projects is more of an exception, but if another such opportunity arises, we would again carefully analyse it,” he added.

Renalfa recently completed the construction of a 33 MWp solar farm near the town of Razlog in Bulgaria and is developing a 230 MWp solar project near Tenevo in south-eastern Bulgaria with a Danish partner, Eurowind Energy.


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