Bulgaria: Yettel and CETIN sign solar PPA

Mar 17, 2023 | Posted by MadalineDunn

Yettel Bulgaria and CETIN Bulgaria, part of the PPF Telecom Group, have announced the signing of a 10-year solar Power Purchase Agreement (PPA) with Electrohold. Through this deal, the company will offtake energy from an upcoming unnamed 123 MW photovoltaic plant. This will reportedly cover almost all of their electricity demand with renewables. The company shared that it is to be completed this spring; further details have not yet been shared. 

Speaking about this, Jason King, CEO of Yettel, said: "Electricity used for business needs is one of the main sources of carbon emissions in the telecom industry. Therefore, the agreement with Electrohold will bring Yettel closer to the implementation of its decarbonization plans and to the construction of a completely green network powered by renewable sources."

Meanwhile, Petar Mudrinich, CEO of CETIN Bulgaria, called the PPA a "landmark deal" and said it's a milestone in its partnership with Electrohold and a "huge step" towards reducing its environmental footprint. Adding: "With this project, we hope to become a role model when it comes to doing business in a modern and sustainable way."

Karel Kral, CEO of Elektrohold Bulgaria, added: "We would like to thank Yettel and CETIN for their trust in Electrohold. The deal is one of the first in Bulgaria for a period of 10 years at freely negotiated prices and shows the beginning of a new trend in the market in line with the green transition. The contract will guarantee stable and predictable income for investors and creditors on the one hand, as well as a competitive price and fixed electricity costs for the customer on the other hand."