Baku, Azerbaijan, April 19
By Leman Zeynalova – Trend:
Axpo company, based in Switzerland, will purchase French photovoltaic company, Trend reports with reference to the company’s website.
In the course of its targeted growth strategy, Axpo has entered into exclusive purchase negotiations with the owners of the French photovoltaic company Urbasolar.
“With the acquisition, Axpo intends to further expand its leading position in the area of renewable energies. Urbasolar plans, constructs and sells photovoltaic systems,” said the company.
The owners chose Axpo in an extensive selection process from a field of high-ranking bidders. In a next step, French law stipulates that Urbasolar employee representatives must be consulted before the sales contract is concluded. Urbasolar has initiated this consultation process.
The two parties have agreed not to disclose any details on the intended purchase.
Axpo holds 5 percent of shares in the Trans Adriatic Pipeline (TAP).
It owns and holds interests in power plants and have long-term energy supply contracts with electricity and natural gas producers.
In addition, Axpo is involved in important power plant and supply projects. The Axpo Group produces, trades and sells energy in over 30 European countries.
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