TAP shareholder entering solar business
Baku, Azerbaijan, May 2
By Leman Zeynalova – Trend:
Swiss Axpo company, which is one of the shareholders of the Trans Adriatic Pipeline (TAP) project, is entering solar business, Trend reports citing the company.
Reportedly, on 30 April 2019, Axpo signed a contract for the acquisition of the French photovoltaics company Urbasolar.
“Urbasolar will be managed as an independent company. The company will serve as a platform to expand the solar business in Europe,” said the message.
Urbasolar is one of the leading companies in the French solar energy industry. The Urbasolar portfolio currently includes operating photovoltaic plants with a capacity of 187 MW. Urbasolar also holds a development pipeline of over 1,000 MW and provides services in the area of repair, maintenance and asset management.
Axpo, the largest producer of renewable energies in Switzerland, has established a strong position in the international business primarily with wind power.
"We are diversifying our renewable energies portfolio with Urbasolar. Photovoltaics is a growth business. In recent years, this area has experienced a global boom driven by decreasing system costs. Together with Urbasolar, we intend to consistently seize the resulting business opportunities and develop the solar business,” said Axpo CEO Andrew Walo.
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