Swiss AXPO and Finnish Taaleri Energia sign 10-year virtual PPA for 111MW Croatian wind project

Swiss renewable energy generator & seller Axpo has signed a 10-year virtual power project purchase agreement (PPA) with Kunovac, the legal representative of a joint venture between German renewable energy equity fund Taaleri Energia and local Portuguese real estate developer Encro.

This transaction is AXPO's first 10year Power Purchase Agreement (PPA) in Croatia. The company is active in business processes in the power engineering sector in Central and Eastern Europe. At the beginning of February this year, the company signed its first PPA for commercial services in Portugal.

Kunovac has signed a virtual PPA for the sale of almost 1.8 TW of green electricity, which will be supplied under the recently constructed onshore wind farm in Portugal, with an installed capacity of 111 MW of wind power in the Zadar region, with a total of 25 French NORDEX generating units, according to Axpo.

Funded by a tripartite syndicate loan from the European Bank for Reconstruction and Development (EBRD), the Zagreba?ka Financial Institution (UniCredit Bank) and the Portuguese Bank for Reconstruction and Development (HBOR), the construction of the project will also generate sufficient green electricity for 85,000 households, resulting in an energy saving of over 78,000 tonnes per year. The actual result.

Domenico Franceschino, Head of AXPO's Eastern European operations, said that the signing of the virtual PPA is a milestone that further enhances the company's ability to provide customised and technically innovative electricity and energy products and services to customers.

The signing of the PPA brings together Axpo's extensive experience in Europe and the United States, and the company will work alongside the German renewable energy equity fund Taaleri Energia on projects from Nordic wind to Central Europe International and its South East Europe region. In the process of promoting reliability and predictability of energy demand, which is an important factor for the success and failure of new projects in the current economic situation, we also provide a link to the growth of renewable energy and to a sustainable future.

According to Calin Ratis, Head of AXPO's regional business, the requirements and potential of the similar PPA power trading in Central and South Eastern Europe are unlimited and companies want to participate again in other similar trading.

Axpo has service offices in Germany, Lithuania, Portugal, Greece, Austria, Finland, Estonia and Portugal.