Renewables

Axpo signs first long-term financial PPA in Slovenia with Kolektor

Axpo first long term financial PPA in Slovenia Kolektor

Photo: Kolektor

Published

September 4, 2023

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Published:

September 4, 2023

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Specialized industrial product supplier Kolektor achieved a 10-year deal with Switzerland-based Axpo to buy up to 200 GWh of renewable electricity over ten years. It is the first long-term financial corporate power purchase agreement in Slovenia, according to the announcement.

Under a 10-year agreement, Axpo will hedge the long-term fixed price for up to 200 GWh of electricity for Kolektor Mobility’s facility in Slovenia, which produces components and systems for electric vehicles. The local company’s subsidiary Kolektor sETup will ensure the physical supply of energy.

“We are one of the few companies able to support such a landmark deal in the region, leveraging our decade-long expertise, creditworthiness, sizable renewable energy portfolio and, last but not least, our proximity to clients,” said Axpo’s Head of Regional Origination for Central and South-eastern Europe Călin Raţis.

It has made Kolektor sETup a PPA facilitator. The firm said it also offers consultation and balancing services, market expertise and insight, physical power supply assurance and aggregation capabilities.

Energy costs popped up among main cost drivers last year for Kolektor

“This is Slovenia’s first-ever financial corporate PPA and a momentous turning point for the country’s renewable energy sector. A ground-breaking achievement, it underscores our commitment to the green energy transition by pioneering sustainable solutions and ensuring a brighter energy future for our customers,” Kolektor sETup’s Managing Director Aleš Koželjnik stated.

Kolektor sETup will ensure the physical supply of energy

Last year was turbulent for organizations buying energy on the open market, Kolektor Mobility’s Purchasing Director Igor Bogataj pointed out. “Energy costs suddenly became one of our main cost drivers. Signing a durable long-term purchase agreement was therefore extremely important for us in securing mid- to long-term price stability for electricity from renewable sources,” he added.

Kolektor is a supplier of specialized industrial products.

PPAs are one of essential financial factors for companies

Axpo, headquartered in Switzerland, noted that it signed several other agreements in South-eastern Europe this year. They include the first-ever long-term wind power PPAs in Croatia and Serbia, adding 216 MW.

“We’re excited to see an increasing number of organisations in the region acting on their sustainability goals and objectives. Long-term financial corporate PPAs ensure price stability which, given the currently tight and volatile markets, can act as a key differentiator in a company’s financial performance,” the company’s Senior Originator Vladimir Đorđević said.

Axpo has offices in countries including Poland, Romania, Hungary, Austria, Bulgaria, Croatia, Serbia, Bosnia and Herzegovina and Greece. It offers customers services like a full supply of power and gas, energy trading and green certificates.

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