(MENAFN- Trend News Agency)
BAKU, Azerbaijan, Jan.20
By Leman Zeynalova – Trend:
Swiss Axpo company has inked a solar power purchase agreement (PPA) in Poland, Trend reports with reference to the company.
The agreement will see Axpo's Warsaw-headquartered subsidiary off-take the electricity produced by solar plants owned by R.Power Group, one of the fastest-growing solar energy developers in Europe.
The contract covers a portfolio of solar plants currently under construction throughout Poland, with an installed capacity of nearly 300 MWp. The individual plants have a projected capacity ranging from 0.3 MWp to 30 MWp and will be put into operation gradually, with full production expected by mid-2023. The O&M operator, Nomad Electric Services, will take care of the asset's productivity, maintenance and service.
Under the transaction between Axpo Polska and R.Power Group, a special commercial structure has been created to ensure the profitability of the entire project portfolio. Axpo Polska will buy the full output generated by the solar plants between 2022 and 2026, and will act as the balancing agent for the project portfolio. It will also provide R.Power Group access to price hedging instruments, which ensures bankability of the renewable energy projects.
The negotiations were supported by Wolf Theiss Poland and Clifford Chance Warsaw, which are the leading law firms in Central and Eastern Europe.
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