Axpo seeks to add 10 GW of solar by 2030

Image by Axpo Holding AG.

February 17 (Renewables Now) - Swiss renewable power producer Axpo Holding AG said today that it aims to expand its solar portfolio by 10 GW by the end of the decade with an initial focus on its home market, Italy, Spain and Poland.

The 10-GW solar capacity will be deployed on 10,000 hectares (24,711 acres) of vehicle parking spaces, large roofs, greenhouses and facilities already in use as sites for solar power.

The power company is already working on the development of 4 GW of solar projects in Spain, Italy and Poland, which will create about 100 jobs in the next year and a half. Apart from the three countries, Axpo will continue to invest in its home market where it plans to develop some 10,000 solar plants totalling some 200 MW by 2030.

The Baden-based holding is also exploring more similar projects in other countries where it is already active.

The ambitious expansion plan builds on Axpo's financial power which was strengthened with the issue of a CHF-500-million (USD 540.7m/EUR 475.4m) sustainability-linked bond in January and a revolving facility of EUR 2.5 billion (USD 2.84bn) that was unveiled last week. The facility's interest rate is linked to targets related to the expansion of renewable energy capacity and diversity.

(EUR 1 = USD 1.137)

(CHF 1 = USD 1.081/EUR 0.951)

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