Axpo Signs First Long Term Wind Power PPA in Croatia

Axpo has concluded the first 10-year power purchase agreement (PPA) in Croatia, reinforcing the company’s leading position in the long-term energy services market in central and south-east Europe.  

The landmark deal signed with Kunovac d.o.o. – a joint investment between the Finnish renewable energy fund manager Taaleri Energia and local developer ENCRO – covers almost 1.8 TWh of green electricity produced at Croatia’s newest onshore windfarm in the Zadar region.

Jointly financed by the European Bank for Reconstruction and Development (EBRD), Zagrebacka Banka d.d. (UniCredit Bank) and the Croatian Bank for Reconstruction and Development (HBOR), the windfarm will produce enough green power for 85,000 households, helping to avoid more than 78,000 tonnes of CO₂ emissions annually. 

The wind farm has a total grid connected capacity of 111 MW, with Axpo providing the virtual PPA.

Axpo’s Head of Origination Western & Eastern Europe, Domenico Franceschino, said: “This landmark agreement reinforces Axpo’s ability to offer tailor-made and innovative energy products and services. The PPA capitalises on Axpo’s broader experience across Europe, bringing – together with Taaleri Energia – best practice from the Nordics to the central and south-east Europe region. In enabling energy price stability and predictability – which remain key in the current economic environment – we are also supporting the growth of renewables and the transition to a sustainable future.”