‘1st Sleeving Agreement’ In Bulgaria For Solar

• Renalfa has secured A1 Bulgaria as a customer for energy generated from a 33 MW solar power plant
• Under the PPA signed, Renalfa will supply 200,000 MWh annually for 10 years from the project to A1 through its subsidiary Toki Power
• Renalfa claims this to be the country's 1^st sleeved PPA which is aligned with the consumption schedule of the buyer

Bulgarian clean energy investment company Renalfa AD has entered into what it terms as the 1^st sleeved power purchase agreement (PPA) for solar energy in the country, with telecommunication service provider A1 Bulgaria with 10-year duration.

Renalfa describes a sleeving agreement as a 'process of transforming the pay-as-produced PV profile of the generation project into the consumption schedule of the telecom through the electricity market'.

In this case, Renalfa will supply 20,000 MWh solar power annually from a 33 MW project in South Bulgaria to A1 through its subsidiary Toki Power.

Calling corporate PPAs as the backbone of clean energy transition and a sleeved agreement as an innovative business model, Renalfa's Executive Director Yuri Katanov said, "Together, we have addressed and resolved one of the main obstacles for bigger market integrations of renewables."

A solar, wind and energy storage project developer, Renalfa counts its completed solar projects in Europe and the Middle East as exceeding 6 GW, while Toki acts as a fully digital renewable energy supplier.

In late 2021, Renalfa and Eurovind Energy launched a new Bulgaria focused joint venture calling it Eura Energy with a combined portfolio of 1 GW solar, wind and power-to-x portfolio (see New RE Joint Venture For Bulgaria).