The construction of a new solar plant in southern Sweden is the result of a collaboration between energy company Axpo, media group Egmont, and solar energy company Soltech Energy Solutions. The solar plant will be constructed by Soltech Energy Solutions and Axpo will manage the project’s long-term risks and the supply of solar power to the grid. The solar energy will then be traded through a power purchase agreement (PPA) and cover half of Egmont’s electricity consumption in Sweden and Norway with renewable electricity.
Axpo has facilitated a long-term transaction of renewable electricity produced by Soltech Energy Solutions and sold to the Egmont media group. In collaboration the parties have signed a seven-year corporate power purchase agreement for the construction of an 11 MW solar plant, developed by Soltech Energy Solutions. The solar plant is planned to be operational in the summer of 2024 and will be located in southern Sweden, near Falkenberg.
11 GWh earnings yearly – 50 % of Egmont`s electricity consumption in Sweden and Norway
The installation will annually add around 11 GWh of renewable electricity to the grid, which corresponds to the average consumption of approximately 1,200 Nordic households. Egmont is the sole purchaser of the renewable electricity, and it will cover 50% of Egmont’s electricity consumption in Sweden and Norway.
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“When we set our goal of 100% green electricity from 2022, we also wanted to work towards a renewable electricity supply that can make a difference to the energy sector, and to use our size as a group to realize it. This ambition has led us to the collaboration with Axpo and Soltech Energy Solutions. This agreement is an important part of our ‘Go Greener’ journey,” says Raphaëlle Stewart, Sustainability Manager at Egmont.
„Collaboration key to the energy transition“
Axpo Sverige AB Senior Originator David Eickhoff adds: “Collaboration is key to the energy transition and we’re very happy to announce this success story during a challenging time for the energy markets. Soltech Energy Solution’s green power generation, Egmont’s commitment to a green electricity procurement, and Axpo’s solutions for hedging and trading of energy were all equally important to this deal. By using our expertise and long experience in PPAs we were able to structure the deal to fit the needs of all parties involved.”
“Soltech Energy Solutions is proud to construct this solar park that will contribute to the green transition in Sweden and Norway. The joint project with Egmont and Axpo, both with high sustainability ambitions, feels truly rewarding. Collaborations such as this one serve as a good example for substantial and crucial investments in large-scale solar installations,” says Fredrik A Svensson, Director Utility PV, Soltech Energy Solutions. (hcn)
