Renewables developer R.Power has signed a power purchase agreement (PPA) with energy trader Axpo for nearly 300MWp of solar in Poland.
The contract is to cover a portfolio of under-development assets of generation capacities ranging from 300kWp to 30MWp. Assets are to be energised gradually and the full portfolio is slated for completion by mid-2023.
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Under the terms of the deal, Axpo is to purchase power from the entire portfolio from 2022 until 2026 while also acting as the balancing agent for the portfolio in full. The duo said this special commercial structure would ensure the entire portfolio’s profitability, while also allowing R.Power to access price hedging instruments moving forward.
Paweł Wierzbicki, head of origination at Axpo Polska, said the deal – which he described as one of the Polish energy market’s largest ever solar PPAs – demonstrates his company’s intent to “take a leading position marketing solar energy in Poland”.
