Axpo signs first long-term contract for Croatian wind power
20 March 2023 11:03
The Baden-based Axpo group has signed the first ten-year power purchase agreement (PPA) in Croatia with its Zagreb branch. The agreement was made with Kunovac d.o.o., a joint investment of the Finnish renewable energy fund manager Taaleri Energia and the local project developer ENCRO, according to a statement.
The contract covers almost 1.8 terawatt hours of green electricity produced by Croatia's newest onshore wind farm in the Zadar region. It is expected to supply 85,000 households with green electricity, as well as to accelerate Croatia's transition to clean energy along with another new wind farm in the region. It will help to avoid more than 78,000 tons of CO2 emissions annually, writes the statement.
The wind farm is jointly financed by the European Bank for Reconstruction and Development (EBRD), the Croatian bank Zagrebacka Banka d.d., which is part of the Italian UniCredit banking group, and the Croatian Bank for Reconstruction and Development (HBOR).
“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,” commented Domenico Franceschino, Head of Origination Western & Eastern Europe at Axpo, in the statement. ko
