- Press Releases
November 15 (Renewables Now) - Swiss energy company AEW Energie AG has agreed to buy a 23% stake in the Ryburg-Schwoerstadt hydropower plant on the river Rhine in northern Switzerland from the canton of Aargau for CHF 150 million (USD 162.5m/EUR 141.9m).
The purchase will expand AEW Energie's own production portfolio, adding 170 GWh of electricity per year and is in line with its strategy to provide its customers with sustainable energy from the region, the Swiss energy company said on Friday.
After the deal becomes effective at the beginning of 2022, the canton of Aargau will still have a say at Ryburg-Schwoerstadt as it owns 100% of AEW Energie.
Located on the Rhine river close to the border with Germany, the low-pressure run-of-river power plant has four turbines, each with a capacity of 30 MW and generates about 740 GWh of electricity per year. The facility was first commissioned in 1931 and is equally owned by Swiss and German investors.
Hydropower is the most important energy source in the canton of Aargau with 25 hydropower plants covering 70% of its electricity needs. AEW Energie owns two hydropower plants on the Reuss river and has stakes in several other facilities on the Aare, Limmat and Rhine rivers.