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

Green for Growth Fund invests in Turkiye Is Bankasi's green bond

Green for Growth Fund invests in Türkiye İş Bankası’s green bond issue

11 October 2024 - The Green for Growth Fund (GGF) signed a deal for its second direct investment in Türkiye İş Bankası in Turkey

axpo petrol ppa slovenia

Axpo, Petrol ink first physical PPA in Slovenia

10 October 2024 - It is the first PPA in the country for the physical delivery of electricity – to one of Petrol’s end customers

eles siemens energy memorandum Adnan Chaudhry mervar presern slovenia

ELES, Siemens Energy enter strategic partnership to develop digital technologies for electricity grids

09 October 2024 - Slovenia’s operator of the combined transmission and distribution network ELES has signed an MoU with Siemens Energy

TotalEnergies PPA Saint-Gobain France five year power purchase agreement

TotalEnergies to supply Saint-Gobain under five-year solar, wind PPA

09 October 2024 - TotalEnergies will supply renewable electricity to Saint-Gobain in France under a five-year power purchase agreement