In a period of intense volatility in energy markets, Europa Profil Aluminium S.A., one of Greece’s leading aluminum extrusion industries, is moving forward with a strategic partnership with Protergia, the energy arm of METLEN Energy & Metals, Greece’s largest private energy company with over 600,000 supply points. This collaboration marks the adoption of an innovative energy management model.
Europa – Protergia: Together for a sustainable energy future
The agreement involves signing a VBL PPA (Virtual Baseload Power Purchase Agreement) contract, through which Europa secures energy stability and cost predictability. The VBL PPA does not require physical energy delivery but is based on virtual settlement of the difference between the reference price and the wholesale market price (DAM). This is a solution that fully and continuously covers Europa’s energy needs with “green” energy — 60% from Renewable Energy Sources (RES) and 40% from natural gas, with guarantees of origin. This specific approach strengthens industry protection from market uncertainty and actively contributes to reducing Scope 2 emissions, in accordance with the ESG goals set by the company.
The Call Option financial instrument
Additionally, as part of the partnership with Protergia, Europa has integrated the Call Option financial instrument into its energy portfolio. Through this contract, the company has the ability to be compensated when the wholesale market price exceeds predetermined levels. With controlled costs, the Call Option offers significant flexibility and energy security, allowing Europa to take advantage of favorable prices whenever they appear, while maintaining cost control.
The digital and energy transformation that Europa is implementing, spearheaded by the utilization of tools such as VBL and Call Option, is part of a broader sustainable development strategy. The pursuit is not only to enhance competitiveness and efficiency in the production process, but also to substantially contribute to the transition to an energy-efficient and environmentally responsible industrial model. The Europa – Protergia partnership represents a characteristic example of how technology, innovation, and specialized energy products can create tangible solutions in the field of energy and industrial sustainability.
