Orange Romania commits to long-term virtual procurement of renewable energy
Companies within the Orange Romania Group have signed the first vPPA (virtual Power Purchase Agreement) contract with Engie Romania, which involves the long-term virtual procurement of renewable energy.
Orange said that the 6-year agreement will allow its Romanian branch to cover 30 GWh of its annual electricity needs with green energy from solar technology.
By signing the vPPA contract, Orange and Engie Romania have joined forces in a joint project supporting Orange companies in Romania to achieve carbon neutrality by 2040, a goal set in the strategic plan of the Orange Group - Lead the Future. Through this initiative, Romania joins other countries within Europe, where Orange secured a substantial 80% volume of green energy in 2023 (Spain, Belgium, Luxembourg, Slovakia, Poland, Romania, Moldova).
"We align with the objectives of the Orange Group and continue to integrate sustainability into our actions to reduce our impact on the environment," stated Liudmila Climoc, CEO of Orange Romania.
Representatives of Engie Romania, in turn, noted that the company supports its clients by offering predictable solutions for purchasing electricity from renewable sources, which are also beneficial for environmental protection.
“vPPA contracts, such as the one signed between Engie Romania and Orange, exemplify our group's strategy to offer customers green electricity and provide predictability over energy costs. It's a great example of how, in a market with high price fluctuations like the energy market, companies can ensure, through this type of contract, that they conduct economically and environmentally sustainable activities," stated Nicolas Richard, CEO of Engie Romania.
Virtual PPA (vPPA) is a long-term contract signed between a renewable energy developer and an interested buyer. This approach covers future trading risks related to price fluctuations in the energy market (hedging) while simultaneously providing certainty that the energy allocated to the buyer comes from renewable sources.
In 2022, Orange Romania launched a 4-year program to install solar panels on 300 network sites and 4 communication interconnection centers and data centers. Currently, approximately 650 solar panels have been installed on 3 interconnection centers in Constanta, Brasov, and Timisoara, and 133 network sites already have functional solar panels.
(Photo source: Jerome Cid | Dreamstime.com)
