Renewables

Axpo signs PPA deal in Croatia with Taaleri Energia, Encro

axpo taaleri encro ppa croatia

Photo: Axpo

Published

March 21, 2023

Country

Comments

comments icon

0

Share

Published:

March 21, 2023

Country:

Comments:

comments icon

0

Share

Swiss renewables producer and trader Axpo has signed a 10-year virtual power purchase agreement (PPA) with Kunovac, a joint investment between Finnish renewable energy fund manager Taaleri Energia and local developer Encro.

The deal is Axpo’s first 10-year power purchase agreement (PPA) in Croatia. The company is very active in the region. In early February it signed the first commercial PPA in Serbia.

The PPA with Kunovac covers almost 1.8 TWh of green electricity that would be produced at Croatia’s newest onshore wind farm. The facility in the Zadar region will have a capacity of 111 MW, Axpo said.

Jointly financed by the European Bank for Reconstruction and Development (EBRD), Zagrebačka Banka d.d. (UniCredit Bank) and the Croatian Bank for Reconstruction and Development (HBOR), the windfarm will produce enough green power for 85,000 households, helping to avoid more than 78,000 tonnes of CO2 emissions annually.

Franceschino: The deal is bringing best practice from the Nordics to the Central and South-east Europe region

Axpo’s Head of Origination for Western and Eastern Europe Domenico Franceschino said the landmark agreement reinforces the company’s ability to offer tailor-made and innovative energy products and services.

“The PPA capitalizes on Axpo’s broader experience across Europe, bringing – together with Taaleri Energia – best practice from the Nordics to the Central and South-east Europe region. In enabling energy price stability and predictability – which remain key in the current economic environment – we are also supporting the growth of renewables and the transition to a sustainable future,” he added.

According to Axpo’s Head of Regional Origination Calin Ratis, both the demand and potential for similar deals in Central and South-east Europe are immense and the firm looks forward to supporting other organizations in similar deals.

Axpo has offices in several countries including Austria, Bulgaria, Croatia, Greece, Hungary, Poland, Romania, and Serbia.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Open call for green hydrogen combined heat and power pilot project in Western Macedonia

Open call for green hydrogen high-efficiency CHP pilot plant in northern Greece

04 July 2025 - The Greek government has opened a call for a pilot CHP unit in Western Macedonia that would run on green hydrogen

Foreign renewable energy investors remain committed to Romania as large plants coming online

Foreign renewable energy investors remain committed to Romania as large plants coming online

04 July 2025 - Renewable energy companies from abroad aren't intimidated by negative power prices in Romania, especially with the BESS segment accelerating

projects euros modernisation fund celan energy

EU’s Modernisation Fund disburses EUR 3.66 billion for clean energy projects in nine countries

04 July 2025 - Focusing on renewables, grids, storage, and energy efficiency, the funds will support projects in Croatia, Slovenia, Greece, and Romania.

IHA Turkey 2024 hydropower additions highest Europe again

IHA: Turkey’s 2024 hydropower additions highest in Europe again

03 July 2025 - The world's hydroelectric capacity increased 1.7% last year to 1.44 TW, the International Hydropower Association said in its annual report