Rezolv Energy has entered into a solar virtual power purchase agreement (VPPA) with Ardagh Glass Packaging-Europe (AGP-Europe).
The VPPA covers output from Rezolv Energy’s 229MW St George solar project in Bulgaria, securing renewable electricity for Ardagh’s glass manufacturing operations across Europe from April 2026.
The St George solar park will be built on a brownfield site, the former Silistra airport, a decommissioned airfield covering 165 hectares.
The project will comprise nearly 400,000 photovoltaic panels.
St George will be one of the largest solar projects in Bulgaria once it is operational in the summer of 2025.
The VPPA – one of the first to be signed in Bulgaria – is intended to provide 110GWh per year of renewable electricity to AGP-Europe, over 12 years.
It complements AGP-Europe’s renewable energy supply from wind power, secured in Sweden earlier this year.
Together, thanks to their different sources, they are designed to provide AGP-Europe with a consistent renewable power supply throughout the year.
In conjunction with other PPA in its portfolio, this deal is designed to enable AGP-Europe to meet over 80% of its 2030 renewable electricity targets.
Rezolv is able to sign this VPPA because Bulgaria is a full member of the Association of Issuing Bodies (AIB) and going through the final steps to connect to the AIB Hub, thus making its Guarantees of Origin tradeable across Europe.
Adopting this essential European legislation and enacting it fully directly supports Bulgaria in decarbonising its electricity grid for the benefit of everyone.
Schneider Electric supported AGP-Europe in the VPPA negotiation.
AGP-Europe chief executive Martin Petersson said: “We are pleased to have finalised this agreement in just six months, which is largely due to Rezolv’s flexibility, the support and technical know-how of Schneider Electric, and our own experience in this field.”
“The Bulgarian solar project perfectly meets our aim to diversify the locations of our renewable energy supply and to support emerging energy markets: AGP-Europe benefits from a supply of renewable electricity, while helping Bulgaria’s transition to low-carbon energy.”