Swiss utility Axpo Holding AG today (13th April) said it has struck two green power deals to buy electricity that will be generated by 76.4 MW of wind farms that are currently being built in Sweden.
Under a 10-year power purchase agreement (PPA) signed by Axpo Nordic AS, the Swiss group will buy and trade all of the electricity to be produced from a 60-MW wind farm owned by infrastructure fund Reichmuth Infrastruktur II KmGK. Called Hultema, the project was developed by Germany’s PNE Group and was recently sold to the Switzerland-based investor.The construction of Hultema was initiated in February and is due to be completed in the middle of 2023.
The second PPA was signed with Hamburg-based Connected Infrastructure Capital GmbH (CIC), the owner of the 16.4-MW Norra Hunna wind project in Orebro province. Once up and running in the second quarter of 2021, the wind farm’s entire output will go to Axpo Nordic. The term of this PPA is also 10 years.
“Sweden continues to be an important market for wind energy and we continue to see an increasing interest from international investors active in our country’s merchant market without subsidies,” commented Tomas Sjoberg, managing director of Axpo Sverige, a unit of Axpo Nordic.
Axpo Nordic was set up in 2003 and operates in Northern Europe and the Baltic region - link
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