Axpo concludes Europe’s largest wind power PPA

Axpo announces the signing of a long-term power purchase agreement with CEZ's Fântânele-Cogealac-Gradina wind farm.|Axpo announces the signing of a long-term power purchase agreement with CEZ's Fântânele-Cogealac-Gradina wind farm.

Share:

Gain full professional access to energynews.pro from 4.90€/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90€/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 €/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99€/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 €/year from the second year.

Axpo announces the signing of a long-term power purchase agreement with CEZ‘s Fântânele-Cogealac-Gradina wind farm, part of Macquarie Asset Management ‘s energy portfolio in Romania.

Axpo signs PPA for Europe’s largest onshore wind farm

The 7-year agreement with the CEZ onshore wind farm is the company’s largest in the region to date, covering more than 4 terawatt-hours (TWh) of electricity generation.
Axpo will cover around 50% of CEZ’s combined installed capacity of 600 MW from three wind farms owned and managed by a Macquarie Asset Management long-term infrastructure fund.
The plants are located in Dobrogea, near the Black Sea.

“This country has great potential for renewable energies in general and wind power in particular. The PPA is an important milestone, both for the Romanian energy market and for Axpo’s activities in the country. Thanks to our long experience of PPAs in many European markets, we are well placed to play a key role in Romania’s energy transition,” adds Radu Rat, Managing Director of Axpo Energy Romania.

Axpo is Switzerland’s largest producer of renewable energy and an international leader in energy trading and the marketing ofsolar and windpower.
Its 5,000 employees combine experience and expertise with a passion for innovation.
Axpo develops innovative energy solutions based on state-of-the-art technologies for its customers in 40 countries in Europe, North America and Asia.

The Abu Dhabi Fund for Development has granted AED752mn ($205mn) financing to the Gulf Interconnection Authority to connect the electricity grids of the United Arab Emirates and Saudi Arabia, enhancing regional energy exchange.
The European Union postpones the launch of negotiations on its 2040 climate target amid internal deadlocks and mounting geopolitical pressure.
Ormat Technologies has signed tolling agreements for two new energy storage facilities in Israel, further strengthening its diversification and resilience in the energy sector.
Repsol has approved the final investment decision for the Ecoplanta project in Spain. This innovative project, utilizing Enerkem's technology, aims to convert non-recyclable municipal waste into methanol, marking a step towards industrial decarbonization.
The French Energy Regulatory Commission (CRE) issues recommendations to reduce economic losses caused by negative electricity prices, a growing phenomenon in 2024 resulting from an oversupply of electricity compared to demand.
Under the weight of colossal debt, Northvolt seeks protection under the U.S. Chapter 11 law. The departure of CEO Peter Carlsson marks a critical turning point for the company, once a European flagship in the battery industry.
Despite pressure on refining margins, Africa is accelerating refinery projects to meet growing demand and enhance energy security, while facing competition from global giants.
A major agreement between Petrobras and Vale marks a significant advancement in the decarbonization efforts of Brazil's energy and mining sectors, with the supply of renewable content diesel intended for heavy vehicle fleets.
The French government unveils its strategy to increase offshore wind capacity, targeting 18 GW by 2035 and 45 GW by 2050, through an ambitious call for tenders covering all maritime fronts.
The continued increase in development costs of upstream oil projects is testing the economic viability of new oil production. A recent study by Rystad Energy reveals an increase in breakeven costs, while still remaining below current oil prices.
Avjet Holding Inc. was fined 200,000 dollars by the Quebec Court for violating the Canadian Environmental Protection Act following a spill of 4,900 liters of petroleum product in January 2023.
TotalEnergies, in partnership with APA Corporation, has confirmed a USD 10.5 billion investment to develop Block 58 off the coast of Suriname. The project aims to exploit the oil resources from the Sapakara and Krabdagu fields, with reserves estimated at over 750 million barrels. The fields, located 150 kilometers offshore, will be developed using a Floating Production Storage and Offloading (FPSO) unit capable of processing up to 220,000 barrels per day.
OPEC is revising its oil demand forecasts for 2024 and 2025 downwards, due to weak economic growth and increased supply from its competitors.
In Uganda, 21 activists were arrested in Kampala for protesting against the EACOP oil project, backed by international players, highlighting the economic and geopolitical tensions surrounding this initiative.
Georgia begins construction of its first oil refinery at Kulevi, with the aim of reducing its dependence on Russian imports and strengthening its energy autonomy.
Masdar and TotalEnergies are collaborating to transform green hydrogen into methanol and sustainable aviation fuel (SAF) in Abu Dhabi, aiming to decarbonize the aviation and shipping sectors.
Zambia will import 200 MW of electricity from South Africa and Zimbabwe to compensate for severe power cuts caused by prolonged drought.
EDF and Generadora Metropolitana launch CEME 1, a 480 MW solar power plant in the Atacama desert, to supply 500,000 homes.
South Sudan is facing a severe economic crisis following the rupture of a pipeline crucial to its oil exports. This situation accentuates inflation and plunges the population into growing insecurity.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: €99 for the 1styear year, then € 199/year.