Bulgarian lead and zinc producer KCM AD has signed a power purchase agreement (PPA) to procure green electricity from renewables developer Enery over a period of 12 years starting in 2024.
The energy-intensive company will source electricity from a new solar power plant developed by Enery Element in Bulgaria, which is expected to produce almost 200 GWh a year. The exact capacity of the project and the amount of power supplies under the PPA were not specified.
Enery is an Austrian-based developer operating in Central and Eastern Europe. Its majority-owned joint venture Enery Element has over 3 GW of renewables and battery projects under development in Bulgaria and Romania, according to the announcement.
KCM AD, part of mining and metallurgical company KCM 2000 Holding, consumes nearly 400 GWh of electricity per year, with its consumption profile allowing a balanced mix of energy sources to promote sustainable energy supplies.
The renewables PPA offers benefits such as long-term stability of electricity costs, reduced carbon footprint, and tailored terms to KCM AD’s operational demands and energy goals, the companies said.
The contract was signed at KCM’s facilities in Plovdiv in the presence of Enery chief executive Richard Koenig and country manager and chief commercial officer Severin Vartigov.