Switzerland's Axpo Group through its Polish subsidiary Axpo Polska has entered 'one of the largest' solar power purchase agreements (PPA) in the Polish energy market, for close to 300 MW capacity with local solar PV project developer R.Power.
Axpo Polska will offtake the entire power generated by this capacity, to be realized as 0.3 MW to 30 MW projects, between 2022 and 2026 thus ensuring the profitability of the entire project portfolio under a special commercial structure.
The company considers this as a major milestone for itself in Eastern Europe as Axpo is mainly active in Poland's wind energy segment and owns 1.5 GW of offtake portfolio. Its client portfolio in Poland comprises small and medium-sized businesses among others to whom it supplies electricity under customized PPAs.
R.Power has hired operations and maintenance (O&M) contractor Nomad Electric Services to look after the plants once all of these are commissioned by mid-2023. The Polish company had hired Nomad Electric in December 2021 for 135 solar plants with a combined capacity of 400 MW in Poland (see R.Power Partners With Nomad & Onde).
"Building strong relationship with reliable off-takers, which have international presence, like Axpo is our priority to enhance scaling up R.Power Group activity and securing commercialization and bankability of our new PV projects both in Poland and abroad as our solar portfolio continues to expand in our priority European markets", said Board Member at R.Power Group, Tomasz Sęk.
Axpo said it will continue to cooperate with R.Power on other solar projects in Poland.