Axpo is expanding its business with Power Purchase Agreements (PPAs) in Eastern Europe: The subsidiary Axpo Polska will manage the physical power generated by a 42 MW wind farm in Kisielice, Poland, for a period of at least ten years. The corresponding route-to-market PPA with the owner of the wind farm, the Green Investment Group (GIG), also includes price hedging of a significant proportion of the Polish green certificates generated by the project.
Axpo and GIG are further expanding their cooperation: While the subsidiary Axpo Nordic concluded a PPA for the Swedish wind farm Hornamossen with the leading renewables investor back in June 2019, their colleagues from Axpo Polska are now also working together with GIG. The transaction underpins Axpo’s role as a leading offtaker of energy from renewable sources in Poland, with the current portfolio comprising over 1 GW of installed capacity.
GIG announced the purchase of the wind farm in the north of Poland in August. The wind farm consists of 21 turbines and will generate on average enough renewable electricity to power more than 45.000 homes per year.
Edward Northam, Head of GIG Europe, said: “As we pursue our mission to accelerate the transition to a greener global economy, it’s essential that GIG continues to seek out opportunities in new and growing markets, like Poland. Axpo played an important role in enabling us to complete this acquisition, our first in the country, and we look forward to working with them again in the future.”
Grzegorz Biliński, Managing Director Axpo Polska, said: “With this PPA we are further expanding our po- sition in the Polish market. Our know-how and services make a decisive contribution to supporting our customers in realizing their projects, which enables the rapid expansion of renewable energies in Poland”.
