Bekaert’s Path to Sustainability
Innovating for a Greener Future
Bekaert is taking bold steps towards sustainability, embedding responsible practices throughout its operations and value chain. By transitioning to alternative energy sources and innovating with materials that reduce environmental impact, Bekaert aims to create a low-carbon future. With ambitious Science Based Targets, the company is leading the charge to meet climate challenges head-on, ensuring that their solutions contribute to a sustainable and thriving world.
Vifor will generate enough clean energy to power more than 270,000 homes annually and will avoid approximately 540,000 tonnes of CO2e emissions per year.
By committing to the Vifor VPPA before the wind farm was operational, Bekaert contributed directly to enabling new renewable capacity to be built — a principle known as ‘additionality.’
Yearly Volume100GWH
Expected CODEnd of 2025
Duration10YEARS
Offtaker
Industry: Steel Wire
Country: Romania
Companies: Bekaert Slatina (100 GWh/a from cPPA)
Generating Asset
Project: Vifor
Country: Romania
Technology: Wind Onshore
Installed capacity: 461 MW
Development stage: In construction
Owners: Rezolv Energy
Navigating Renewable Energy Challenges
Bekaert’s sustainability journey has not been without its challenges. Tackling climate change requires innovative solutions to meet renewable energy demand across global operations. With on-site renewable energy projects like wind and solar farms in Belgium, Spain, and China, Bekaert continues to identify opportunities to minimize its reliance on fossil fuels. By leveraging partnerships and advanced energy strategies, Bekaert demonstrates that a commitment to a low-carbon society is both achievable and essential for a better tomorrow.
Why did this Virtual PPA (VPPA) offer appeal to Bekaert?
Green energy goals
- Supporting Bekaert’s Science Based Targets initiative (SBTi) commitments to reduce Scope 1 & 2 emissions by 46.2% by 2030
Low availability of new or existing wind onshore projects Romania
- Limited installed capacity of wind projects in Romania and distant pipeline of new capacities at the moment of signing
- Lack of VPPA offers for wind profile from projects located in the CEE region and local offers were mostly solar-based
Importance of VPPA
- The structure offers flexibility to transfer Guarantees of Origin (GoOs) across countries within the AIB (Association of Issuing Bodies), supporting broader decarbonization goals across Bekaert’s operations
Advanced development stage
- Construction initiated, reducing financing and construction risk
Innovative Solutions toOvercome Barriers
Solution
Corporate VPPA with Project Vifor
(owned by First Look Solutions S.R.L & Rezolv Energy)
Reasoning
- Flexible contract structuring – The negotiation allowed for adaptable and buyer-friendly terms, tailored to Bekaert’s sustainability and risk management needs
- Successfully executing the VPPA relied on strong executive sponsorship and cross-functional collaboration between Bekaert’s sustainability, legal, procurement, and finance teams