Axpo increases investments in wind, solar energy

Oil&Gas Materials 10 December 2021 10:51 (UTC +04:00)
Axpo increases investments in wind, solar energy

BAKU, Azerbaijan, Dec.10

By Leman Zeynalova - Trend:

Gross investments of Axpo for the 2020/21 financial year (1 October 2020 to 30 September 2021) were CHF 125 million higher in the 2020/21 financial year, at CHF 482 million, with investments in wind and solar energy in particular increasing from CHF 107 million to CHF 249 million, Trend reports with reference to the company.

Reportedly, this was offset by higher divestments of CHF 84 million and payments of CHF 49 million received from the decommissioning and waste disposal funds, resulting in net investments of CHF 327 million (previous year: CHF 275 million).

As a result of the significantly higher operating cash flow and the slight rise in net investments, free cash flow increased to CHF 562 million (previous year: CHF 319 million), reads the latest report released by Axpo.

Since 2015, Axpo has developed more than 80 wind farms with a total installed capacity of over 1,350 megawatts, 132 megawatts of this in the reporting period. Further plants with a total capacity of more than 3,000 megawatts are in the pipeline. While some of the wind farms will remain in the portfolio, others will be sold to investors to generate additional income. For example, in July 2021 Axpo announced that it had completed the sale of five newly built wind farms in France with an installed capacity of 74.5 MW. In the solar energy sector, plants with an installed capacity of 200 megawatts were constructed in the reporting year while the project pipeline totals more than 5,700 MW.


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