Renewable

November 2 (Renewables Now) - Swiss renewable power producer and energy trader Axpo Holding AG has acquired a 25% interest in Swiss Green Gas International Ltd, which develops power-to-X plants for the production of green hydrogen and synthetic methane in Northern Europe.

The deal is in line with Axpo's sustainability strategy and the company's efforts to support the decarbonisation of the gas supply industry as well as Switzerland's energy transition in which green gas and hydrogen are considered key technologies, it was announced on Monday.

With the investment and its international presence, Axpo will support the development of green gas and its wider use in the supply mix of gas suppliers.

The price of the deal was kept under wraps.

Bern-based Swiss Green Gas International focuses on building up expertise in the area of synthetic methane and hydrogen production from renewable energy and realising pioneering projects in this field. Other shareholders in the company include investment firm Nordur Group GmbH and Holdigaz SA -- a natural gas and biogas company in Switzerland, which supplies 161 municipalities in the cantons of Vaud, Valais and Fribourg.