Axpo expanding its business in renewable energies

Oil&Gas Materials 14 April 2021 14:28 (UTC +04:00)
Axpo expanding its business in renewable energies

BAKU, Azerbaijan, Apr.14

By Leman Zeynalova – Trend:

Swiss Axpo is further expanding its business in the field of long-term power purchase agreements (PPAs) for renewable energies in the Nordic region, Trend reports citing the company.

The company’s subsidiary Axpo Nordic AS has agreed to buy the full output generated by the 60 MW Hultema and 16.4 MW Norra Hunna wind farms currently under construction in Sweden.

Axpo Nordic has inked two long-term PPAs with the owners of the projects. With a planned nominal capacity of around 60 MW, the Hultema wind farm was developed by the PNE Group, a German wind power pioneer, and recently sold to the Swiss infrastructure fund Reichmuth Infrastruktur II KmGK. Construction started in February 2021 with commissioning planned for mid-2023. Once the wind farm is fully operational, Axpo Nordic will be responsible for marketing the electricity produced over a period of ten years.

The second PPA has been signed with Hamburg-based Connected Infrastructure Capital GmbH (CIC), owners of the Norra Hunna wind farm in the Swedish province of Örebro. The 16.4 MW wind farm is scheduled to go into operation in the second quarter of 2021, securing a first foothold for CIC in the Scandinavian growth market. Under the ten-year agreement, Axpo Nordic will buy the wind farm’s full output.

Axpo Nordic is part of the Axpo Group, the largest energy company in Switzerland.


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