Axpo, Egmont and Soltech have signed a power purchace agreement (PPA) for a new 11MW PV plant in Sweden.
The construction of the site in southern Sweden, near Falkenberg, is the result of a collaboration between energy company Axpo, media group Egmont, and developer Soltech Energy Solutions.
The array will be constructed by Soltech and Axpo will manage the project’s long-term risks and the supply of solar power to the grid.
The project will annually add around 11GWh of renewable electricity to the grid, which corresponds to the average consumption of approximately 1,200 Nordic households. Egmont is the sole purchaser of the renewable electricity, and it will cover 50% of Egmont’s electricity consumption in Sweden and Norway.
“When we set our goal of 100% green electricity from 2022, we also wanted to work towards a renewable electricity supply that can make a difference to the energy sector, and to use our size as a group to realize it,” said Egmont sustainability manager Raphaëlle Stewart.
“This ambition has led us to the unique and exciting collaboration with Axpo and Soltech Energy Solutions.
“We are proud to be a leader in the media industry when making this type of investments in renewable energy. This agreement is an important part of our ‘Go Greener’ journey.”
Axpo Sverige AB senior originator David Eickhoff added: “Collaboration is key to the energy transition and we’re very happy to announce this success story during a challenging time for the energy markets.
“Soltech Energy Solution’s green power generation, Egmont’s commitment to a green electricity procurement, and Axpo’s solutions for hedging and trading of energy were all equally important to this deal.
“By using our expertise and long experience in PPAs we were able to structure the deal to fit the needs of all parties involved.”
Soltech Energy Solutions PV utility director Fredrik A Svensson said: “Soltech Energy Solutions is proud to construct this solar park that will contribute to the green transition in Sweden and Norway.
“The joint project with Egmont and Axpo, both with high sustainability ambitions, feels truly rewarding. Collaborations such as this one serve as a good example for substantial and crucial investments in large-scale solar installations.”