Switzerland-based Axpo is expanding its business activities in the field of long-term power purchase agreements (PPAs) for renewable energies to the Baltic countries by signing its first-ever PPA in Lithuania. Under the agreement with the Taaleri SolarWind II fund, Axpo Nordic will hedge parts of the electricity generated by the Anykščiai, Rokiškis and Jonava wind farms currently under construction. The transaction supports the roll-out of wind energy in Lithuania and marks a major milestone for Axpo Nordic’s expansion plans in the Baltic region.
“Baltic countries have a lot of potential especially for wind energy, and this is exactly where we can bring in our comprehensive experience and know-how in marketing renewable energies,” said Kjetil Holm, Head Origination at Axpo Nordic. “By signing PPAs for projects underway, we can speed up the expansion of wind energy in the Baltic area and help push the energy transition in the region. This PPA marks a major milestone in this regard, and in the history of our company.”
In concrete terms, Axpo will hedge parts of the energy produced by three onshore wind farms in Lithuania with a combined capacity of 186 megawatts (MW). The wind farms will together produce enough electricity to supply around 270.000 households and will offset the equivalent of 170.000 tonnes of carbon dioxide during each year of operation. All three wind farms are expected to be fully operational in 2022.