Yettel runs almost entirely on green energy

The photovoltaic plant in Verila is due to be completed this spring
(photo: Yettel)

Fphotovoltaic power plant 123 MW will provide green energy for a major part of the telecom operator’s consumption Yettel and CETIN Bulgaria, which are part of PPF Telecom Group. The two companies signed 10-year contract for the supply of electricity from renewable sources with Elektrohold.

The headquarters is located in Verila, in the region of Sapareva Banya, and is to be completed in the spring of 2023. The overall management of the purchase and implementation of the delivery will be carried out by Electrohold Trade.

In August 2022, PPF Telecom Group committed to reducing greenhouse gas emissions in accordance with the Science Based Targets Initiative (SBTi) assessment criteria. The deal between Yettel Bulgaria, CETIN Bulgaria and Electrohold Trade is the first major step in the companies’ decarbonization plan.

“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. A team of traders, financiers, engineers, internal and external consultants has been working on the project for several months”, commented Karel Kral, CEO of Electrohold Bulgaria.

With the assistance of the law firm Wolf Theiss, the best practices in the field of long-term contracts of the PPA type (power purchase agreements) have been implemented. “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,” Karel Kral added.

The contract with Yettel and CETIN is part of Elektrohold’s strategy for development in the field of renewable energy production management, explained Atanas Dimov, executive director of Elektrohold Trade.

“We have developed a product specifically for industrial and corporate customers who want to be green, independent of the volatility of fuel prices and responsible to nature and society,” he added.

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