Axpo, the Swiss producer and distributor of renewable energies, has announced its investment in Swiss Green Gas International (SGGI).
However, the financial terms of the agreement were not disclosed.
Axpo launches into green gas and hydrogen
Axpo acquires a 25% stake in Swiss Green International.
SGGI is a specialist in “Power-to-X” installations for the production of hydrogen and green gas (synthetic methane) from renewable electricity.
SGGI has eight projects with a total electrolysis output of 300 MW in Northern Europe.
For Axpo, reducing the share offossil fuels in electricity production is not the sole preserve of renewable technologies.
Hydrogen and green gas are other key elements in the energy transition.
Indeed, several countries are banking on hydrogen and green gas for their decarbonization policies.
Promoting green gas
With this investment, Axpo aims to promote the development of green gas.
This strategy is in line with Switzerland’s objectives to decarbonize its gas supply.
By 2050, Switzerland hopes to achieve carbon neutrality, and Axpo aims to be a major player in this area.
In addition to domestic production, the decarbonization of Swiss gas also requires the import of green, decarbonized gas from abroad.
For this, SGGI’s operations in Northern Europe are a vital resource.
Other shareholders in Swiss Green Gas International include Holdigaz and Nordur Group.
