May 19 (Renewables Now) - Swiss utility Axpo Holding AG has finalised two off-take deals with Macquarie Group Ltd's (ASX:MQG) Green Investment Group (GIG) for the output of 127 MW of wind parks in Norway.
Under the long-term route-to-market power purchase agreements (PPAs), Axpo Nordic will get the electricity produced from the 79.8-MW Buheii and the 47-MW Tysvaer wind projects that are being built in Norway. The power will then be provided to the Norwegian smelters of French industrial group Eramet.
Axpo’s role will be to compensate for fluctuations in power and manage physical power supplies, the Swiss utility said on Tuesday. Its role of an electricity marketer comes to facilitate the signing of corporate PPAs by serving as a link between power producers and consumers.
The two power plants covered by the contract are expected to go online in the second half of 2021. As previously announced, they will be powering Eramet Norway's processing facilities until 2038. Their combined output will offset 22,000 tonnes of carbon dioxide (CO2) emissions per year.