- 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 1st 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 1st 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).