Switzerland-based renewables producer and energy trader Axpo has signed a power purchase agreement (PPA) to offtake electricity generated by nearly 300 MWp of solar capacity in Poland, from photovoltaic plants currently being developed across the country by Polish R.Power Group.
Under the PPA, Axpo’s Polish subsidiary, Axpo Polska, will buy the entire output of the solar power plants between 2022 and 2026, and will act as the balancing agent for the project portfolio, according to a press release from the Swiss company.
Axpo Polska will offtake the full output of the solar power plants until 2026
The solar power plants, with a projected capacity ranging from 0.3 MWp to 30 MWp, will be put into operation gradually, with full production expected by mid-2023.
The transaction represents another major milestone for Axpo in Eastern Europe, while strengthening its role as one of the leading off-takers of energy from renewable sources in Poland, according to the press release. So far, Axpo Polska has been mainly active in marketing wind energy, with its offtake portfolio comprising almost 1.5 GW of installed capacity.
“The agreement is one of the largest solar PPAs ever concluded in the Polish energy market”
Paweł Wierzbicki, Head Origination and Board Member at Axpo Polska, said the agreement is one of the largest solar PPAs ever concluded in the Polish energy market.
Axpo offers customers in Poland tailor-made PPAs, as well as power and gas supply solutions based on structured long-term contracts. In the past six years, Axpo has expanded its client portfolio to small and medium-sized businesses (SMEs) and now provides services for 15,000 SMEs in the country, the company said.
The Swiss company, which employs 5,000 people, develops innovative energy solutions based on state-of-the-art technologies for customers in 40 countries in Europe, North America, and Asia, reads the press release.
R.Power Group is developing a portfolio of solar power projects with a capacity of over 6 GWp in Poland, and it also has projects in various other European countries, including Italy, Spain, Portugal, and Romania.