Axpo signs a solar power purchase agreement (PPA) in Poland, marking a new milestone for the company in Eastern Europe.
300 MW
The contract covers a portfolio of solar power plants currently under construction across Poland, with an installed capacity of almost 300 MW.
The individual plants have a planned capacity ranging from 0.3 MW to 30 MW, and will be commissioned progressively.
Full production is scheduled for mid-2023.
The O&M operator , Nomad Electric Services, will be responsible for the productivity, maintenance and servicing of the asset.
4-year PPA
As part of the transaction between Axpo Polska and R.Power Group, a special business structure has been created to ensure the profitability of the entire project portfolio.
Axpo Polska will purchase the entire output of the solar power plants between 2022 and 2026, and act as balancing agent for the project portfolio.
It will also give the R.Power Group access to price hedging instruments.
This guarantees the bankability of renewable energy projects.
The negotiations were supported by Wolf Theiss Poland and Clifford Chance Warsaw, the leading law firms in Central and Eastern Europe.
Solar and wind power
To date, Axpo Polska has been mainly active in the marketing ofwind power, with a portfolio comprising almost 1.5 GW of installed capacity.
“The agreement signed between Axpo and the R.Power Group is one of the largest solar PPAs ever concluded on the Polish energy market,” comments Paweł Wierzbicki, Head of Origination and member of Axpo Polska’s Board of Directors.
Over the past six years, Axpo has also expanded its customer portfolio to include small and medium-sized enterprises (SMEs), and now provides services to 15,000 of them nationwide.
