Media releases

Renewable energy 15.12.2023

Axpo battery storage in Poland will aid grid stability

Axpo has been active in the development, construction and commercial optimisation of large-scale battery solutions for several years. Following the expansion of these services to the Swedish market, Axpo is launching a dedicated battery business in Poland. The company plans to support stabilisation of the Polish power grid through storage facilities while also participating in the country’s capacity mechanism and trading on short-term markets.

Solar energy 14.12.2023

Axpo to focus on large-scale solar projects in Italy

Axpo is expanding its solar energy presence in Italy with the development of two new large-scale power plants in the north and south of the country, it was announced today. Leveraging the company’s solar expertise to further exploit its potential in Italy, a strategically important market, is part of the Axpo Group’s continuing commitment to a more sustainable energy supply.

Company 13.12.2023

Samuel Leupold nominated for the Board of Directors

The Board of Directors of Axpo Holding AG will propose to the General Meeting on 19 January 2024 that Samuel Leupold be elected as a replacement Board member. The 53-year-old Swiss energy expert would replace Hanspeter Fässler (67), who is stepping down.

International business 08.12.2023

Axpo, Egmont, and Soltech sign PPA for new solar plant in Sweden

The construction of a new solar plant in southern Sweden is the result of a unique 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.

Renewable energy 07.12.2023

Business growth prompts Axpo office move in Vaasa

Axpo is moving into new offices in the Espen shopping centre in Vaasa this December, it was announced today. The decision to relocate was made as expanding employee numbers exceeded the capacity of Axpo’s current accommodation.

International business 06.12.2023

Axpo and Messer sign PPA for solar power from Südwerk

Axpo and German industrial gas specialist Messer have concluded a long-term power purchase agreement (PPA), it was announced today. From 1 January 2024, Axpo will supply two Messer facilities in Germany with electricity produced by Südwerk solar plants based in Bavaria.

Alpin Solar 23.11.2023

Axpo plans to construct an alpine solar plant in Glarus Süd

Following the full commissioning of Switzerland’s largest alpine solar plant to date in the municipality of Glarus Süd in August 2022, Axpo now plans to build a 10 MWp solar plant in the same region. The plant is intended to provide essential winter electricity and add value to the community. With this sixth alpine solar project, Axpo is consistently driving its solar initiative forward.

International business 21.11.2023

Axpo invests in Swedish home energy efficiency scale-up Eliq

Axpo is investing in Swedish home energy efficiency scale-up Eliq, it was announced today. Taking part in the financing round alongside lead investor Fortum and Inven Capital, this is the first direct start-up investment made through Axpo’s Partnering & Investing initiative. As Switzerland’s largest producer of renewable energy and an international leader in energy trading and the marketing of solar and wind power, the move underlines Axpo’s strategic ambition to drive innovation and support the growth of the group’s businesses. The investment also strengthens the existing strategic partnership between Axpo subsidiary CKW, a leading energy services provider in Central Switzerland, and Eliq.

International business 20.11.2023

Axpo extends energy supply and market access agreement with Valda Energy

Axpo and Valda Energy, a specialist energy supplier to UK small businesses, have announced a three-year extension to their existing Wholesale Energy Agreement.

Hydropower 14.11.2023

Hydrogen energy crucial to a climate-neutral future

Recognising the increasing importance of hydrogen to decarbonisation of the energy supply, Axpo has published a white paper on the role and potential of hydrogen in Switzerland . Axpo uses the latest data to demonstrate the economic viability and potential uses of hydrogen as an energy source. The paper also takes a critical look at the key challenges facing the hydrogen economy in Switzerland.

Solar energy 10.11.2023

Axpo is making plans for a second alpine solar plant in Ilanz/Glion

Following Axpo’s presentation in September 2023 of its plans to build a 15 MWp ground-mounted system in Ilanz/Glion in the canton of Graubünden, the company is now planning to build a second project in the community. This second ground-mounted system is expected to have an installed capacity of around 30 MWp. Axpo aims to generate a total of around 66 gigawatt hours of sustainable electricity in Ilanz/Glion with the two projects, corresponding to the electricity consumption of over 14,000 households.

Company 09.11.2023

Axpo launches ambitious training initiative to combat skills shortage

The rapid expansion of renewable energy is being hampered by the shortage of skilled workers. Axpo is responding with a range of targeted measures that will make the Group one of the largest training enterprises in Switzerland by 2030. New training opportunities in emerging fields, multi-stage programmes for different proficiency levels and a wider variety of apprenticeship pro-grammes are intended to make Axpo and the energy sector more attractive to young professionals.

Renewable energy 11.10.2023

Axpo to develop 25 MW wind farm in Finland

Axpo will build a four-turbine wind farm in Finland with an installed capacity of 25 MW, it was announced today. This latest expansion of the company’s wind power activities in Europe is consistent with Axpo’s continuing strategic investment in the development of renewable energy.

Renewable energy 27.09.2023

Axpo and Sunnic Lighthouse sign second green PPA

A second power purchase agreement (PPA) has been signed between Axpo and Sunnic Lighthouse GmbH, the Germany-based energy trading subsidiary of solar developer ENERPARC AG, it was announced today. From 1 October 2023, Sunnic will supply 38.4 gigawatt hours (GWh) of solar power a year to Axpo. This equates to the annual electricity needs of around 7,500 households and represents a reduction in CO2 emissions of more than 22,000 tonnes a year.

International business 25.09.2023

Axpo and Pilkington Automotive sign long-term PPA for Finnish manufacturing sites

Axpo and Pilkington Automotive Finland Oy, part of the NSG Group, a leading global innovator in glass manufacturing, have signed a long-term wind energy power purchase agreement (PPA), the companies announced today. The partnership is a significant step towards powering NSG Group’s plants in Finland with clean electricity and further demonstrates the commitment of both companies to sustainability.

Renewable energy 21.09.2023

Axpo, Nobian and WIRCON sign long-term solar PPA in Netherlands

Axpo and leading industrial chemicals manufacturer Nobian have signed a long-term power purchase agreement (PPA) in the Netherlands, the companies announced today. The PPA will see Axpo provide solar power to Nobian’s operations at Delfzijl from a facility developed by WIRCON, a large and growing international solar energy developer.

Renewable energy 12.09.2023

Axpo plans another alpine solar plant in Ilanz/Glion

Axpo is pushing forward with its solar offensive in Switzerland, which was launched in 2022, and is planning to build an approximately 15-MWp ground-mounted installation in Ilanz/Glion in the canton of Graubünden. According to current planning, the plant is expected to generate around 22 gigawatt hours of sustainable electricity per year, a significant amount of which will be generated in the cold winter months. The project is intended to be a model of how nature, leisure activities and energy production can be combined.

International business 04.09.2023

Axpo and Kolektor sign first financial PPA in Slovenia

Axpo has secured its latest long-term corporate power purchase agreement (PPA) for renewable energy in south-eastern Europe, it was announced today. The ground-breaking deal, the first ever financial corporate PPA in Slovenia, was concluded with the Kolektor group, a global supplier of specialised industrial products, headquartered in Slovenia.

Company 04.09.2023

Axpo announces issue of CHF 300 million bond

On 4 September 2023, Axpo Holding AG successfully placed a bond on the market in the amount of CHF 300 million.

Solar energy 01.09.2023

Axpo joins forces with EWS to build the first alpine solar plant in the canton of Schwyz

Axpo is planning to construct a 9 MWp ground-mounted plant in the canton of Schwyz together with the local energy company EWZ AG. The first alpine plant in the canton will make an important contribution to the winter power supply in the region in the future. Following on from NalpSolar and the solar plant in the Disentis ski resort, the plant in the canton of Schwyz will be the third large-scale solar installation to be implemented by Axpo as part of its solar offensive.

Renewable energy 30.08.2023

Axpo boosts wind power activities in Switzerland and joins Suisse Eole

Axpo is expanding its activities in the area of wind power, with a focused commitment on the development, construction and operation of wind turbines in Switzerland. There is enormous potential in wind energy, particularly as it supplies essential winter electricity in the cold, dark months of the year. At the National Wind Energy Conference, Axpo also joined industry association Suisse Eole.

International business 09.08.2023

Axpo commissions small-scale LNG vessel

Axpo has signed a ten-year deal to charter an LNG bunkering vessel, the company announced today. The ship is expected to begin operations in 2025 and will make an important contribution to the maritime industry’s green energy transition. The project will be implemented in Italy and will see – for the first time in Europe – the deployment of an innovative and sustainable technology for continuous ship-to-truck operations.

Company 30.06.2023

Chief Financial Officer Joris Gröflin to leave Axpo

Axpo CFO and Executive Board member Joris Gröflin, 46, will step down from his roles by the end of January 2024 at the latest, it was announced today. The search for a successor will begin immediately.

Grids 23.06.2023

Swiss solution: Axpo sells minority stake in Axpo Volt Beteiligung AG to the BVK pension fund

Axpo Holding AG (Axpo) has completed the sale of a 49.9% minority stake in its Axpo Volt Beteiligung AG subsidiary, through which Axpo holds 31.37% of Swissgrid. The buyer and new minority shareholder is BVK, the biggest pension fund in Switzerland. Axpo maintains a 50.1% majority stake in Axpo Volt Beteiligung AG, thus retaining full control of its Swissgrid participation in the long term.

Company 12.06.2023

Axpo achieves exceptional half-year results

In the first six months of financial year 2022/23, the Axpo Group successfully implemented its strategy in what continued to be a challenging environment. A solid operational performance led to positive earnings contributions from all areas of the business, with international trading once again delivering excellent results. The anticipated financial benefits of market stabilisation saw a strongly positive impact on results from shifts in earnings. Funds used to hedge electricity production flowed back to the company, the balance sheet total shrank substantially, and net debt was reduced significantly. This resulted in an adjusted EBIT of CHF 2,242 million (previous year: CHF 1,303 million) and profits of CHF 3,214 million (previous year: CHF 513 million). With 14.2 terawatt hours (TWh), Axpo made the largest contribution to Switzerland’s electricity supply during the reporting period, accounting for approximately 40% of the country’s electricity consumption.

Solar energy 06.06.2023

Axpo starts its solar activities in Spain with a 200 MWp plant

Axpo begins construction of the first solar plant in Spain in September 2023. The plant, with an installed capacity of 200 megawatts, is part of Axpo's ambi-tion to develop ten gigawatts of additional capacity by 2030. As Switzerland's largest producer of renewable energies, Axpo is thus making a substantial contribution to the expansion of climate-friendly electricity production in Eu-rope.

International business 23.05.2023

Axpo Deutschland and Siltronic sign fixed-price PPA

Axpo Deutschland and leading silicon wafer manufacturer Siltronic have signed a long-term power purchase agreement (PPA), Axpo announced today. The PPA will see Axpo provide solar power to Siltronic’s operations at Burghausen in Bavaria and Freiberg in Saxony at a fixed price and based on a fixed schedule, which will enable a predictable and reliable power supply.

International business 16.05.2023

Axpo receives top prize for best power dealer

Axpo has been voted number one ‘Overall Power Dealer’ by market players and customers in the 2023 Energy Risk Commodity Rankings. The prestigious award is both an acknowledgement and endorsement of Axpo’s position as a leading global power trader. Axpo was also ranked second for best overall energy dealer and natural gas dealer, and rated one of the top dealers in several European markets, including Italy, Germany, the UK, France, Northern Europe and Belgium.

International business 15.05.2023

Axpo to develop one of Sweden's largest battery storage facilities

Axpo will develop one of the largest battery storage facilities in Sweden, it was announced today. Acquired from project developer SENS (Sustainable Energy Solutions Sweden). The facility in Filipstad is designed to provide ancillary services to help balance the electricity grid. Construction is expected to start in early 2024.

Solar energy 05.05.2023

Axpo to build 10-MW solar plant in Disentis ski area

Axpo is planning its next alpine solar plant in the Disentis ski area in the Canton of Grisons. With an installed capacity of 10 MW, the ground-mounted plant will produce electricity right where it is needed: The mountain railway to the ski area will be driven with sustainable solar power. With the project, Axpo is moving forward with the solar offensive that was launched in the fall of 2022 and making an important contribution to the development of urgently needed winter power capacities.

International business 13.04.2023

Axpo and Borealis sign their second long-term PPA within six months

Axpo and Borealis, one of the world’s leading providers of advanced and sustainable polyolefins solutions and a European front-runner in polyolefins recycling, have signed a second power purchase agreement (PPA) within six months.

International business 12.04.2023

Axpo Polska provides route to market for CPPA between Nestlé Polska and GoldenPeaks Capital

Axpo Polska has created a unique balancing service agreement for a CPPA between Nestlé Polska and GoldenPeaks Capital. Under the corporate power purchase agreement, photovoltaic farm operator GoldenPeaks Capital supplies around 44 GWh a year of green energy to seven Nestlé factories in Poland, helping the manufacturer achieve net zero emissions by 2050.

International business 04.04.2023

Renewable Energy Industry: Axpo Bulgaria’s CEO Designated Business Woman of the Year

The Managing Director of Axpo Bulgaria, Milena Videnova, has been named the winner of the 2023 business woman of the year in the category of "Renewable Energy Industry". The prestigious prize is awarded by the European CEO magazine and the winner is selected among C-suites executives from all 27 EU countries.

Company 28.03.2023

General Meeting of Axpo Holding AG: shareholders approve all motions and confirm confidence in Axpo management

At the 22nd ordinary General Meeting of Axpo Holding AG on 27 March 2023, shareholders approved all motions. They formally acknowledged the management audit report, which they had commissioned and which returned positive results, and expressed their confidence in the Board of Directors and management. Katja Pluto was elected to the Board of Directors to replace Dorothée Deuring. The members of the Board of Directors standing for re-election were confirmed in office for 2023 to 2025. There was no dividend payment.

Renewable energy 20.03.2023

Axpo launches wind power activities in Finland

Axpo will develop, build and operate wind farms in Finland, it was announced today. Working from newly opened offices in Vaasa, Axpo’s renewables team will work closely with their origination colleagues in Helsinki.

International business 10.03.2023

Axpo to build battery storage in Sweden

In the latest expansion of its battery storage capacity, Axpo will build a 20MW/20MWh facility in Sweden to deliver services to the grid in 2024, it was announced today. Axpo acquired the project from developers RES, a global renewable energy company, and Scandinavian Capacity Reserve (SCR). The lithium-ion based facility will be built in Landskrona and connected to the grid by local energy company Landskrona Energi.

International business 27.01.2023

Axpo sells its 5% stake in TAP to Fluxys and Enagás

Axpo has agreed the sale of its 5% stake in the Trans Adriatic Pipeline AG (TAP) to TAP shareholders Fluxys and Enagás S.A, it was announced today. Under the sale and purchase agreement, Belgium’s Fluxys will acquire 1% and Spain’s Enagás 4% of Axpo’s 5% equity stake. Both companies will thus reach 20% ownership of TAP, which includes UK shareholder bp (20%), Azerbaijan’s SOCAR (20%), and Italy’s Snam (20%).

Renewable energy 24.01.2023

Reichenau hydropower plant to produce hydrogen

Axpo and Rhiienergie are building a hydrogen production facility at the Reichenau hydropower plant in Domat/Ems. The plant is scheduled to go into operation in the fall of 2023 and will produce about 350 tonnes of green hydrogen annually. With the project, Axpo and Rhiienergie are making an important contribution to decarbonisation in Switzerland.

Company 19.12.2022

Axpo launches its first Negotiable European Commercial Paper programme of EUR 500 million

Axpo has further strengthened and diversified its financing sources by launching the company’s first Negotiable European Commercial Paper (NEU CP) programme, amounting to EUR 500 million, through its subsidiary Axpo International SA.

Company 15.12.2022

Assisting with security of supply over winter: Axpo provides services for the Birr reserve power plant

Axpo is supporting the possible use of the Swiss federal government's temporary reserve power plant in Birr by providing services relating to fuel procurement, processing power plant requests and ensuring electricity delivery. In doing so, Axpo is making a further important contribution to security of supply in Switzerland during the critical winter months.

Company 08.12.2022

A year marked by unprecedented turmoil on energy markets

Fiscal year 2021/22 was marked by unprecedented turmoil, which is reflected in Axpo Group’s results. Thanks to its strategy of diversification across fields of business and geographical markets and its focus on liquidity management, Axpo was able to weather this ‘perfect storm’. It remained fully self-financing and did not need to draw down on the credit line it had requested from the federal government as a precautionary measure. Axpo’s medium-term outlook is still positive and has in fact been improved by rising electricity prices.

Company 06.12.2022

Experts confirm Axpos effective risk management

The last 12 months have been dominated by a European energy crisis of historic proportions which has presented major challenges for the population, business and the energy sector. The Axpo Board of Directors commissioned PricewaterhouseCoopers (PwC) to conduct an assessment that would allow external evaluation of its risk management as a whole, and in particular the processes that led to its precautionary application to the federal government for a credit facility. The PwC experts came to the conclusion that Axpo handled market risks appropriately and in accordance with industry standards over the last year, that the high requirement for liquidity in the wake of record prices was primarily a consequence of hedging Switzerland’s electricity supply, and that this was greatly reduced by the international customer and trading business.

Solar energy 22.11.2022

Axpo expanding solar ambitions six-fold in Switzerland and building the next alpine solar plant

Axpo is significantly expanding its solar ambitions in Switzerland. By the year 2030, the company intends to develop solar capacities of over 1.2 gigawatts in the Alps and residential areas. The plants will produce enough electricity to cover the annual consumption of over 300,000 Swiss households. Upon completion of the plant at the Muttsee dam, planning of the next alpine solar facility is already underway. The solar offensive will make a valuable contribution to sustainable, reliable power supply, particularly during the winter months. One important reason for expanding ambitions is the temporary simplification of the political framework conditions for alpine installations.

Solar energy 15.11.2022

Europe's first solar installation in satellite dish

Axpo subsidiary CKW and Leuk TDC are breaking new ground in photovoltaics with satellite dishes converted into solar systems. At 1,000 metres above sea level, Leuk TDC is largely self-sufficient thanks to the satellite dishes and addi-tional solar panels on the roof of its data centre. Such innovative large-scale solar projects are an important step towards the transformation of Switzer-land's energy supply.

Grids 14.11.2022

Voltage increase improves power supply between Bülach and Schaffhausen

To increase the security of supply, Axpo has converted the operating voltage of the power lines from 50 to 110 kilovolts (kV) in the region west of Schaffhausen and the neighbouring areas in the canton of Zurich. The work, which was successfully completed this autumn, will increase the performance and reliability of the electricity supply in the entire region.

Renewable energy 07.11.2022

Axpo spins off ‘emost’ battery solution

Following four years of technology development, Axpo is selling its battery storage solution emost (‘electric mobile storage’). Winner of the prestigious IDEE SUISSE prize for innovation, emost delivers flexible and environmentally friendly power supply on construction sites, at events, in emergencies or as a replacement for diesel generators. The Axpo spin-off has been transferred to a new group of investors, led by former Axpo employees, for the commercialisation phase at the end of October 2022.

Company 24.10.2022

Axpo increases unsecured committed syndicated credit lines with banks to EUR 6.0 billion

Axpo has increased an existing unsecured, committed credit line with an international bank consortium from EUR 2.3 billion to EUR 3.0 billion. This brings Axpo's total unsecured, committed, syndicated credit lines with banks to EUR 6.0 billion.

International business 12.10.2022

Borealis and Axpo Nordic sign wind PPA to supply Borealis operations in Sweden with renewable electricity

Borealis, one of the world’s leading providers of advanced and sustainable polyolefin solutions and a European front-runner in polyolefins recycling has reached an important milestone on its way to increase the share of renewable energy used in its Swedish operations with the signing of a power purchase agreement (PPA) with Axpo Nordic, it was announced today.

International business 11.10.2022

Axpo sells La Peñuca wind farm in Spain to Cubico

Axpo has agreed the sale of its 46% share in the 33 MW La Peñuca wind farm in Spain to Cubico Sustainable Investments (Cubico), one of the world’s largest privately-owned renewable energy companies, it was announced today.

Company 30.09.2022

Axpo welcomes Swiss parliaments decisions to strengthen security of supply

In the autumn session, the National Council and the Council of States took important steps to strengthen the security of supply. In the medium term, the expansion of renewables in Switzerland will be accelerated, and in the short term, possible liquidity bottlenecks caused by the unprecedented distortions on the energy markets will be cushioned in an emergency. For producers and investors such as Axpo, this commitment by parliament is important because it creates greater legal certainty. Axpo is closely examining various projects. Time is pressing, as Switzerland will be short of around 50 terawatt hours of electricity by 2050.

Renewable energy 16.09.2022

Axpo completes sale of 65.5 MW wind farm portfolio in France to Greencoat Renewables

Axpo has successfully completed the sale of four wind farms in France to Greencoat Renewables plc (“Greencoat Renewables”), the listed investor in renewable energy projects advised by Greencoat Capital, announced earlier this year. The transaction price was a high double-digit million Euro amount.

Renewable energy 12.09.2022

Axpo Group strengthens its wind and solar business

Expanding renewable energies domestically and abroad is an important pillar of the Axpo strategy. After ten years of development, Axpo is integrating the wind and solar business into two in-house divisions to support the ambition of continuing to make a substantial contribution to the expansion of climate-friendly power production. Katja Stommel, CEO of the Axpo subsidiary Volkswind, will become the Head of the new Wind division. Antoine Millioud will take over as the Head of the Solar division. He has also been appointed the CEO of Axpo's subsidiary Urbasolar.

Alpin Solar 01.09.2022

Switzerlands largest alpine solar plant now in full operation

AlpinSolar, the largest alpine solar plant in Switzerland, is now fully operational. During the winter months, the plant, 2,500 metres above sea level, will produce about three times more power than a comparable facility in the Swiss midlands, benefitting from reflections off the snow and its location above the fog. AlpinSolar will make an important contribution to the energy transition and supply solar power to counteract the winter power gap. The pioneering plant was realised through a cooperation between Axpo, IWB and Denner.

Nuclear energy 23.08.2022

Beznau nuclear power plant: Unit 2 back on the grid after refueling

Following successful refueling, Axpo brought Unit 2 of the Beznau nuclear power plant (KKB) back online during the course of yesterday. With the new loading of the reactor core, KKB 2 is starting the next operating cycle and will once again produce electricity around the clock for more than 600,000 four-person households.

Wind power 28.07.2022

Axpo sells Bisaccia wind farm to Edison

Axpo has agreed the sale of its 66 MW wind farm in Bisaccia/Italy to Edison S.p.A., one of the country’s leading utilities, it was announced today. The sale is consistent with Axpo's strategy of focussing on new growth initiatives.

Hydropower 05.07.2022

Axpo to supply Swiss Steel Group with Swiss hydropower electricity

Axpo, the largest hydropower plant operator in Switzerland and leading pan-European marketer of electricity from renewable energies, has concluded a three-year power supply contract with Steeltec, the Swiss Steel Group’s plant in Switzerland, it was announced today. Steeltec will now rely on electricity from Swiss hydropower to produce its specialist steels. The deal further highlights the role of Axpo’s innovative energy solutions in the decarbonisation of Swiss industry.

Company 29.06.2022

Axpo sells minority share in Repower

Axpo today announced the disposal with immediate effect of its 12.69% share in Repower AG to current anchor shareholders EKZ, UBS Clean Energy Infrastructure Switzerland and the Canton Grisons. The sale is consistent with Axpo's strategy of focussing on renewable energy growth initiatives in Switzerland and abroad.

Renewable energy 28.06.2022

Axpo to develop wind farms with 250 MW capacity in Romania

In the latest expansion of its wind energy activities, Axpo announced today that two wind farms with a combined total of 38 turbines are in the planning stage in Romania. Overall, the development pipeline of Axpo includes wind farms with an installed capacity of 3.5 GW. Axpo continues to make a substantial contribution to the expansion of climate-friendly power production across Europe and in Switzerland, where it is the largest producer of renewable energies.

Hydropower 24.06.2022

Hydrogen production facility at the Wildegg-Brugg hydropower plant forging ahead

Axpo is planning a hydrogen production facility at the Wildegg-Brugg hydropower plant, which is expected to produce green hydrogen from domestic hydropower by the spring of 2024. Some of this climate-friendly hydrogen will be delivered directly to the nearby Voegtlin-Meyer filling station via a pipeline, and contribute to decarbonisation in the mobility sector. The building permit application for the project was submitted today.

Company 13.06.2022

Axpo defies energy market turmoil to post good half-year results

Axpo has proven to be robust against a backdrop of unprecedented turmoil on energy markets. In the first half of fiscal 2021/22, the company posted adjusted EBIT of CHF 1,094 million (prior year: CHF 515 million) and a result for the period of CHF 513 million (prior year: CHF 781 million). The extremely sharp rise in energy prices placed was also challenging from a liquidity management perspective. Collateral payments for hedging Swiss electricity production have temporarily tied up a large amount of cash, but Axpo was able to cover this shortfall thanks to forward-looking liquidity management and good access to the capital market. Axpo’s continued expansion in renewables and status as leader in marketing electricity production capacity and in energy trading make it a significant contributor to decarbonisation and energy supply security.

Renewable energy 24.05.2022

Axpo sells 65.5 MW wind farm portfolio in France to Greencoat Renewables

Axpo has agreed the sale of four wind farms in France to Greencoat Renewables plc (“Greencoat Renewables”), the listed investor in renewable energy projects advised by Greencoat Capital, it was announced today. With this transaction, Axpo and its subsidiary Volkswind continue to deliver strong revenues from their extensive wind farm portfolio and development pipeline in France.

Company 11.05.2022

Axpo issues EUR 600 million sustainability-linked Schuldschein loan

Axpo has successfully issued its first sustainability-linked Schuldschein loan in the amount of EUR 600 million. The transaction - initially launched at EUR 150 million - was significantly oversubscribed due to strong demand from interna-tional banks.

International business 05.05.2022

Axpo signs PPAs with Mirova and Uriel for two new wind farms in Poland

Axpo has further strengthened its position in the Polish energy market by signings two power purchase agreements (PPAs) for new wind farm projects with Mirova Eolska and Uriel Renovables, it was announced today. The installations, currently under construction in Western Pomerania and Pomeranian Voivodeship, will have a combined installed capacity of around 165 MW.

Company 04.05.2022

‘Yes’ to internationally coordinated safety net, ‘no’ to disproportionate and arbitrary ‘rescue umbrella’

The Federal Council wants to place the electricity sector under a so-called ‘rescue umbrella’. The aim is to protect against systemic risks to the security of electricity supply caused by the current situation in Europe. While the goal is sensible, Axpo rejects the legislative proposal as disproportionate, arbitrary and likely unconstitutional. Instead of this contractual obligation, Axpo advocates a streamlined solution accessible to all companies.

Nuclear energy 29.04.2022

KKB starts annual inspection in Unit 1

Unit 1 of the Beznau nuclear power plant (KKB) will be taken off the grid today for about 8 weeks as planned. The plant is thus starting its maintenance shutdown after a trouble-free 340-day operating cycle.

Renewable energy 28.04.2022

Axpo launches investment programme for renewables in Switzerland

As Switzerland’s largest producer of renewable energies, Axpo plays a vital role the Swiss energy transition. As announced today, Axpo intends to increase its contribution in this area, and, with its subsidiary CKW, realise power plant projects in the range of CHF 1 billion by the year 2030. With this undertaking, the company will support domestic power production and promote the development of valuable winter power. However, much more would be possible with the right framework conditions.

Renewable energy 25.04.2022

Axpo powers up first stage of Disneyland Paris solar park

Axpo is currently constructing a solar canopy at Disneyland Paris through its subsidiary Urbasolar as a co-investor in the project. The first stage began operating today and will generate 10 GWh of electricity a year. When fully operational in 2023, the facility will be one of the largest solar parks in Europe, generating 36 GWh of electricity annually.

Renewable energy 11.04.2022

Solar PPA with ENERPARC: Axpo Deutschland to market electricity from PV plant in Büttel

Axpo has signed a long-term power purchase agreement (PPA) with Hamburg-based solar specialist ENERPARC AG as the company continues to expand its solar PPA business in Germany, it was announced today. Under the ten-year agreement, Axpo will buy and market power from a new solar park in Büttel, Schleswig-Holstein, from 2023. The solar park has an on-site battery and provides base load energy.

International business 08.04.2022

Axpo Nordic and Low Carbon sign balancing PPA for Mörknässkogen wind farm

Axpo is further strengthening its business with long-term power purchase agreements (PPA) in Finland: The company’s subsidiary for the Nordic energy markets has entered a route-to-market and balancing PPA for the Mörknässkogen wind farm currently under construction by Low Carbon, a privately-owned UK investment and asset management company.

Renewable energy 30.03.2022

Axpo Italia signs two long-term PPAs with Canadian Solar

Two long-term power purchase agreements (PPAs) for renewable energies have been signed by Axpo Italia, it was announced today, as the company continues its drive to take a leading position in PPAs on the Italian energy market. The ten-year deal with project developer Canadian Solar will see Axpo market green electricity from two solar plants currently under construction in Latium, on the Italian mainland, and Sicily.

International business 21.02.2022

Axpo Deutschland signs PPA with Obton A/S for Klatzow solar park

Axpo has signed a Power Purchase Agreement (PPA) with the Danish company Obton A/S, a leading solar energy investor in Europe, for the Klatzow solar park currently under construction in Mecklenburg-Vorpommern. The ten-year contract demonstrates the important role of PPAs in the expansion of renewable energies in Germany.

Solar energy 17.02.2022

Solar growth in Spain, Italy and Poland

Axpo is continuing to expand its solar energy activities with the development of new plants in Spain, Italy and Poland totalling 4 GW of installed capacity. Solar power plants with 10 GW capacity will be built by 2030. As the largest producer of renewable energy in Switzerland, Axpo is making a substantial contribution to the growth of climate-friendly power production in Switzerland and Europe.

Renewable energy 17.02.2022

Axpo approves the federal government's plans to hedge against power shortages

Axpo welcomes in principle today’s Federal Council proposals for a hydropower reserve and reserve power plants. These measures support the goal of strengthening security of supply in Switzerland. But legal amendments are necessary so that Switzerland can successfully achieve the energy transition and guarantee long-term electricity security of supply.

International business 15.02.2022

Axpo Polska signs 9 year off take agreement for GIGs Scieki wind farm

Power Purchase Agreement (PPA) between Macquarie’s Green Investment Group (GIG) and Air Products has been facilitated by Axpo Polska through a nine-year route-to-market and balancing services agreement for the Ścieki wind farm. Thus, Axpo further strengthened its position in the Polish energy market.

Hydropower 09.02.2022

Axpo signs PPA with Nestlé Switzerland for Mauvoisin hydropower plant

Axpo, Switzerland’s largest producer of renewable energies and Europe's leading provider of power purchase agreements (PPAs), and Nestlé Switzerland are team-ing up in their Swiss home market. For a period of 5 years, Axpo will supply Nestlé in Switzerland with green electricity from its Mauvoisin hydropower plant in the canton of Valais. Thereby, Axpo demonstrates its ability to play a key role in im-plementing complex physical PPA structures for industrial companies in the Swiss market.

Hydropower 07.02.2022

Axpo puts hydropower plant into operation deep in the Grisons mountains

The 2.5-megawatt Curnera hydropower plant of Kraftwerke Vorderrhein AG (KVR) is located 250 metres inside the mountains and utilises the height difference of an existing water transfer system. The power plant produces clean electricity for the equivalent of 2,200 average four-person households.

Company 07.02.2022

Axpo secures EUR 2.5 billion revolving credit facility linked to sustainability targets

Axpo Holding AG has signed a EUR 2.5 billion unsecured revolving credit facility (RCF) with a global syndicate of 22 banks, it was announced today. The sustainabil-ity-linked facility will enable Axpo to refinance the existing CHF 550 million commit-ted credit line from 2020, diversify its financing structure, and enhance its financial flexibility.

Company 04.02.2022

Axpo rebrands for a new energy future

Axpo today revealed a new look and feel for its brand identity, designed to express its strategic focus as a major national and international energy player in an indus-try undergoing fundamental change. For Axpo, Switzerland’s largest producer of renewable energy, an international energy trader and leader in the marketing of solar and wind power, the refreshed brand identity also reflects a readiness for tomorrow’s challenges.

Wind power 03.02.2022

Axpo signs wind farm PPA with Umicore in Belgium

Axpo has further strengthened its position as a leading marketer of renewable energies in Belgium: The company’s subsidiary for the Belgian market has signed an agreement for the supply of the power generated by a wind farm to Umicore, a global materials technology and recycling group. The power purchase agreement (PPA) will help cover part of the electricity demand from Umicore’s Belgian sites and help the company achieve its objective to be carbon neutral by 2035.

Renewable energy 01.02.2022

Axpo Iberia: Biomethane from livestock manure

Pioneering work in Catalonia: Axpo's Spanish subsidiary and the family-owned Torre Santamaría dairy cattle farm have inaugurated the first biogas plant in Spain to convert all the organic waste from a livestock operation into 100% renewable biogas and electricity. Under a long-term contract, Axpo Iberia will feed the produced bio-methane into the local gas grid. The cooperation between Axpo and the dairy business is a model for other facilities wishing to convert solid and liquid manure into energy, and contribute to reducing the environmental impact of the livestock sector.

Wind power 31.01.2022

Axpo supplies Nestlé with electricity from German wind farms

Axpo saw in the new year by reinforcing its role as a leading provider of long-term power purchase agreements (PPAs) for renewable energies in Europe. Since 1 January 2022, the company’s German subsidiary has been supplying Nestlé Germany with electricity from wind power plants. This ensures that non-subsidised wind farms stay on grid and the world’s largest food group can produce its food and beverage products in Germany in a climate-friendly way.

International business 19.01.2022

Axpo signs a PPA with R.Power Group for nearly 300 MWp of solar power in Poland

Axpo has signed a solar power purchase agreement (PPA) in Poland marking another major milestone for the company in Eastern Europe. The agreement will see Axpo’s Warsaw-headquartered subsidiary off-take the electricity produced by solar plants owned by R.Power Group, one of the fastest-growing solar energy developers in Europe.

International business 23.12.2021

Axpo appoints Sandro Giannotti to Head of Gas Trading

Axpo has appointed Sandro Giannotti as the company’s Head of Gas Trading, it was announced today. He will take up his new role on the 1st of January 2022, moving from his current position as Axpo’s Head Gas Trading Eastern Europe & Long Term Gas Supply.

International business 23.12.2021

Axpo appoints Sandro Giannotti to Head of Gas Trading

Axpo has appointed Sandro Giannotti as the company’s Head of Gas Trading, it was announced today. He will take up his new role on the 1st of January 2022, moving from his current position as Axpo’s Head Gas Trading Eastern Europe & Long Term Gas Supply.

Company 09.12.2021

Axpo well-positioned for future growth as company reports good results

• Positive earnings contributions from all business areas • Excellent result in international customer business and marketing of power plant capacity • Operating result of CHF 500 million was below previous year (CHF 826 million) , as expected • Free cash flow of CHF 562 million higher than in previous year (CHF 319 million) • Result for the period higher than in previous year (CHF 607 million vs. CHF 570 million) • Dividend of CHF 80 million proposed The Axpo Group (Axpo) posted adjusted earnings before interest and tax of CHF 500 million for the 2020/21 financial year (1 October 2020 to 30 September 2021), with all business areas (Generation & Distribution, Trading & Sales and CKW) making a positive contribution.

Company 09.12.2021

Axpo well-positioned for future growth as company reports good results

• Positive earnings contributions from all business areas • Excellent result in international customer business and marketing of power plant capacity • Operating result of CHF 500 million was below previous year (CHF 826 million) , as expected • Free cash flow of CHF 562 million higher than in previous year (CHF 319 million) • Result for the period higher than in previous year (CHF 607 million vs. CHF 570 million) • Dividend of CHF 80 million proposed The Axpo Group (Axpo) posted adjusted earnings before interest and tax of CHF 500 million for the 2020/21 financial year (1 October 2020 to 30 September 2021), with all business areas (Generation & Distribution, Trading & Sales and CKW) making a positive contribution.

Wind power 26.11.2021

Axpo signs long-term PPA for three wind farms in Lithuania

Axpo expands its business activities in the field of long-term power purchase agreements (PPAs) for renewable energies to the Baltic countries by signing its first ever PPA in Lithuania. Under the agreement with the Taaleri SolarWind II fund, Axpo Nordic will hedge parts of the electricity gener-ated by the Anykščiai, Rokiškis, and Jonava wind farms currently under construction. The transac-tion supports the roll-out of wind energy in Lithuania and marks a major milestone for Axpo Nor-dic’s expansion plans in the Baltic region.

Wind power 26.11.2021

Axpo signs long-term PPA for three wind farms in Lithuania

Axpo expands its business activities in the field of long-term power purchase agreements (PPAs) for renewable energies to the Baltic countries by signing its first ever PPA in Lithuania. Under the agreement with the Taaleri SolarWind II fund, Axpo Nordic will hedge parts of the electricity gener-ated by the Anykščiai, Rokiškis, and Jonava wind farms currently under construction. The transac-tion supports the roll-out of wind energy in Lithuania and marks a major milestone for Axpo Nor-dic’s expansion plans in the Baltic region.

Hydropower 25.11.2021

Wägital power plant: first partner plant celebrates 100th anniversary

The City of Zurich and Nordostschweizerische Kraftwerke AG (today Axpo) jointly established AG Kraftwerke Wägital in the canton of Schwyz 100 years ago. It was Switzerland’s first example of a power plant established as a partnership with multiple owners. The plant continues to produce climate-friendly electricity for thousands of households today.

Hydropower 25.11.2021

Wägital power plant: first partner plant celebrates 100th anniversary

The City of Zurich and Nordostschweizerische Kraftwerke AG (today Axpo) jointly established AG Kraftwerke Wägital in the canton of Schwyz 100 years ago. It was Switzerland’s first example of a power plant established as a partnership with multiple owners. The plant continues to produce climate-friendly electricity for thousands of households today.

Renewable energy 15.11.2021

Axpo plans new green hydrogen production plant in Swiss town of Brugg

Plans to build another green hydrogen facility close to its run-of-river power plant in Brugg, Switzerland were announced by Axpo today, marking the latest development in the company’s rapid expansion of its green hydrogen business. A memorandum of understanding (MOU) has been signed with local partners, confirming Axpo’s intention to deliver climate-friendly hydrogen to filling stations in the region. The project will make an important contribution to decarbonisation in the Swiss mobility sector.

Renewable energy 15.11.2021

Axpo plans new green hydrogen production plant in Swiss town of Brugg

Plans to build another green hydrogen facility close to its run-of-river power plant in Brugg, Switzerland were announced by Axpo today, marking the latest development in the company’s rapid expansion of its green hydrogen business. A memorandum of understanding (MOU) has been signed with local partners, confirming Axpo’s intention to deliver climate-friendly hydrogen to filling stations in the region. The project will make an important contribution to decarbonisation in the Swiss mobility sector.

Renewable energy 02.11.2021

Axpo signs wind and solar balancing services contract with SNCF Energie in France

A new contract with a subsidiary of the state-owned passenger and freight transport operator SNCF Voyageurs has further expanded Axpo’s marketing of renewable energies in France. Axpo will be responsible for balancing a target of 60 MW until the end of 2023 on behalf of SNCF Energie, which had entered into a long-term power purchase agreement (PPA) with the owners of wind farms and solar plants in France. The contract is a major milestone for Axpo as it seeks to become a significant player in the French PPA market.

Renewable energy 02.11.2021

Axpo signs wind and solar balancing services contract with SNCF Energie in France

A new contract with a subsidiary of the state-owned passenger and freight transport operator SNCF Voyageurs has further expanded Axpo’s marketing of renewable energies in France. Axpo will be responsible for balancing a target of 60 MW until the end of 2023 on behalf of SNCF Energie, which had entered into a long-term power purchase agreement (PPA) with the owners of wind farms and solar plants in France. The contract is a major milestone for Axpo as it seeks to become a significant player in the French PPA market.

Renewable energy 01.11.2021

Axpo invests in Swiss Green Gas International

Axpo has acquired a twenty-five per cent share in Swiss Green Gas International (SGGI). SGGI develops power-to-X (P2X) facilities in Northern Europe for the generation of hydrogen and synthetic methane (green gas) from renewable electricity. A milestone in the promising field of hydrogen and green gas, the transaction is in line with Axpo’s sustainability and innovation strategy and marks an important step towards the energy transition and decarbonisation of the gas supply industry.

Renewable energy 01.11.2021

Axpo invests in Swiss Green Gas International

Axpo has acquired a twenty-five per cent share in Swiss Green Gas International (SGGI). SGGI develops power-to-X (P2X) facilities in Northern Europe for the generation of hydrogen and synthetic methane (green gas) from renewable electricity. A milestone in the promising field of hydrogen and green gas, the transaction is in line with Axpo’s sustainability and innovation strategy and marks an important step towards the energy transition and decarbonisation of the gas supply industry.

International business 21.10.2021

Axpo US executes PPA with Cypress Creek on 270MW Texas solar project

Axpo U.S. LLC has executed a commodity hedge, in the form of a Power Purchase Agreement (PPA) with Cypress Creek Renewables, a leading solar and energy company, for a new project (Shakes Solar) being constructed in Dimmit County, Texas.

International business 21.10.2021

Axpo US executes PPA with Cypress Creek on 270MW Texas solar project

Axpo U.S. LLC has executed a commodity hedge, in the form of a Power Purchase Agreement (PPA) with Cypress Creek Renewables, a leading solar and energy company, for a new project (Shakes Solar) being constructed in Dimmit County, Texas.

Solar energy 08.10.2021

Switzerland's largest alpine solar plant produces its first electricity

The pioneering AlpinSolar project marked a major milestone today with generation of the first electricity from the solar plant, situated 2,500 metres above sea level on the Muttsee dam. Senior representatives of Axpo, IWB and Denner were joined by Energy Minister Simonetta Sommaruga at an event to celebrate the occasion. The need for more such plants to power a successful energy transition in Switzerland, and the considerable challenges they still face, were highlighted during a later panel discussion.

Solar energy 08.10.2021

Switzerland's largest alpine solar plant produces its first electricity

The pioneering AlpinSolar project marked a major milestone today with generation of the first electricity from the solar plant, situated 2,500 metres above sea level on the Muttsee dam. Senior representatives of Axpo, IWB and Denner were joined by Energy Minister Simonetta Sommaruga at an event to celebrate the occasion. The need for more such plants to power a successful energy transition in Switzerland, and the considerable challenges they still face, were highlighted during a later panel discussion.

International business 15.09.2021

Axpo UK signs long-term PPA for new Slough Multifuel energy-from-waste facility in England

Axpo continues to expand its presence in the UK energy market: Its subsidiary Axpo UK Ltd. and Slough Multifuel Ltd., co-owned by SSE Thermal and Copenhagen Infrastructure Partners, have signed a new power purchase agreement (PPA), it was announced today. Axpo UK will purchase 100% of the power exported by a new 50 MW energy-from-waste plant which is currently under construction at the Slough Trading Estate in Berkshire, England.

International business 15.09.2021

Axpo UK signs long-term PPA for new Slough Multifuel energy-from-waste facility in England

Axpo continues to expand its presence in the UK energy market: Its subsidiary Axpo UK Ltd. and Slough Multifuel Ltd., co-owned by SSE Thermal and Copenhagen Infrastructure Partners, have signed a new power purchase agreement (PPA), it was announced today. Axpo UK will purchase 100% of the power exported by a new 50 MW energy-from-waste plant which is currently under construction at the Slough Trading Estate in Berkshire, England.

Nuclear energy 13.09.2021

KKB: Unit 2 back on the grid after maintenance work

Beznau nuclear power plant (KKB) has completed the overhaul of unit 2 and, following approval by the Swiss Federal Nuclear Safety Inspectorate (ENSI), brought the plant back online over the weekend.

Nuclear energy 13.09.2021

KKB: Unit 2 back on the grid after maintenance work

Beznau nuclear power plant (KKB) has completed the overhaul of unit 2 and, following approval by the Swiss Federal Nuclear Safety Inspectorate (ENSI), brought the plant back online over the weekend.

Hydropower 09.09.2021

Limmern PSP awarded for recultivation

During the construction of the Limmern pumped storage plant (canton of Glarus), Axpo was responsible for one of Switzerland’s largest building sites, between Tierfehd and Muttenalp. But today there is barely a trace of it to be seen. It’s all thanks to a specialist recultivation project conducted over a number of years, which has now been recognised by the Swiss Association for Engineering Biology.

Hydropower 09.09.2021

Limmern PSP awarded for recultivation

During the construction of the Limmern pumped storage plant (canton of Glarus), Axpo was responsible for one of Switzerland’s largest building sites, between Tierfehd and Muttenalp. But today there is barely a trace of it to be seen. It’s all thanks to a specialist recultivation project conducted over a number of years, which has now been recognised by the Swiss Association for Engineering Biology.

Wind power 08.09.2021

Axpo signs wind farm PPA with Borealis in Belgium

Axpo is further expanding its long-term power purchase agreements (PPA) business for renewable energies in Belgium with the signing of a nine-year PPA with Borealis, one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and the mechanical recycling of plastics. Under the agreement announced today, Axpo will supply Borealis with green electricity generated by two Belgian wind farms.

Wind power 08.09.2021

Axpo signs wind farm PPA with Borealis in Belgium

Axpo is further expanding its long-term power purchase agreements (PPA) business for renewable energies in Belgium with the signing of a nine-year PPA with Borealis, one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and the mechanical recycling of plastics. Under the agreement announced today, Axpo will supply Borealis with green electricity generated by two Belgian wind farms.

Wind power 24.08.2021

Axpo signs landmark PPA for Europe’s largest operational onshore wind farm in Romania

Axpo’s leading position in the Eastern European energy services market has been reinforced by the signing of a long-term power purchase agreement (PPA) with CEZ’s Fântânele-Cogealac-Gradina wind farm, part of Macquarie Asset Management’s energy portfolio in Romania.

Wind power 24.08.2021

Axpo signs landmark PPA for Europe’s largest operational onshore wind farm in Romania

Axpo’s leading position in the Eastern European energy services market has been reinforced by the signing of a long-term power purchase agreement (PPA) with CEZ’s Fântânele-Cogealac-Gradina wind farm, part of Macquarie Asset Management’s energy portfolio in Romania.

International business 29.07.2021

Axpo Iberia and Azora Capital sign PPA for a wind farm in Cuenca

Axpo Iberia has signed a 10-year power purchase agreement (PPA) with Azora Capital for the sale of electricity from a wind farm under construction in the Spanish province of Cuenca, it was announced today. Axpo Iberia will also provide Azora Capital with representation services for the plant during the entire term of the PPA coverage.

International business 29.07.2021

Axpo Iberia and Azora Capital sign PPA for a wind farm in Cuenca

Axpo Iberia has signed a 10-year power purchase agreement (PPA) with Azora Capital for the sale of electricity from a wind farm under construction in the Spanish province of Cuenca, it was announced today. Axpo Iberia will also provide Azora Capital with representation services for the plant during the entire term of the PPA coverage.

International business 28.07.2021

Axpo Iberia and Aquila Capital sign PPAs for 25 MW solar portfolio in Portugal

Axpo Iberia has signed a series of power purchase agreements (PPAs) with Aquila Capital, an international investment company focusing on renewable energies, it was announced today. In a major milestone for the Axpo subsidiary’s PPA business, Aquila Capital will supply it with 100% renewable energy generated in four solar plants in Portugal.

International business 28.07.2021

Axpo Iberia and Aquila Capital sign PPAs for 25 MW solar portfolio in Portugal

Axpo Iberia has signed a series of power purchase agreements (PPAs) with Aquila Capital, an international investment company focusing on renewable energies, it was announced today. In a major milestone for the Axpo subsidiary’s PPA business, Aquila Capital will supply it with 100% renewable energy generated in four solar plants in Portugal.

Renewable energy 07.07.2021

Axpo sells French wind farms to special investment fund of Encavis Asset Management AG

Axpo has concluded the sale of five newly built wind farms in France to a special institutional investment fund managed by Encavis Asset Management AG, it was announced today. With a total installed capacity of 74.51 MW, the plants are part of Axpo subsidiary Volkswind’s extensive portfolio. Their sale is consistent with Axpo’s strategy of generating additional revenues from the wind energy sector. Both parties have agreed not to disclose details regarding the sale price.

Renewable energy 07.07.2021

Axpo sells French wind farms to special investment fund of Encavis Asset Management AG

Axpo has concluded the sale of five newly built wind farms in France to a special institutional investment fund managed by Encavis Asset Management AG, it was announced today. With a total installed capacity of 74.51 MW, the plants are part of Axpo subsidiary Volkswind’s extensive portfolio. Their sale is consistent with Axpo’s strategy of generating additional revenues from the wind energy sector. Both parties have agreed not to disclose details regarding the sale price.

International business 01.07.2021

Axpo UK extends energy supply and market access agreement with Valda Energy

Axpo’s subsidiary for Great Britain and Ireland and Valda Energy, an energy supplier to the UK SME business market, have announced a two-year extension to their existing Wholesales Energy Agreement. The two businesses first partnered in 2019, signing a three-year power deal, and the extension now takes the partnership forward to 2024. Thus, Axpo UK further consolidates its position in the British energy market.

International business 01.07.2021

Axpo UK extends energy supply and market access agreement with Valda Energy

Axpo’s subsidiary for Great Britain and Ireland and Valda Energy, an energy supplier to the UK SME business market, have announced a two-year extension to their existing Wholesales Energy Agreement. The two businesses first partnered in 2019, signing a three-year power deal, and the extension now takes the partnership forward to 2024. Thus, Axpo UK further consolidates its position in the British energy market.

Company 18.06.2021

Expansion of renewables too slow, electricity from hydropower endangered

Today the Swiss Federal Council approved the dispatch to the Federal Assembly of a new draft act for the security of electricity supply through renewable energies. Axpo welcomes its direction of travel, but not the pace or measures it proposes. Axpo is convinced that an auctioned floating market premium, based on a successful international model, would advance the expansion of renewable energies faster and more efficiently than the planned investment contributions. In addition, it is incomprehensible that existing large-scale hydropower plants will no longer be supported. This will endanger the very foundation of Switzerland’s power supply.

Company 18.06.2021

Expansion of renewables too slow, electricity from hydropower endangered

Today the Swiss Federal Council approved the dispatch to the Federal Assembly of a new draft act for the security of electricity supply through renewable energies. Axpo welcomes its direction of travel, but not the pace or measures it proposes. Axpo is convinced that an auctioned floating market premium, based on a successful international model, would advance the expansion of renewable energies faster and more efficiently than the planned investment contributions. In addition, it is incomprehensible that existing large-scale hydropower plants will no longer be supported. This will endanger the very foundation of Switzerland’s power supply.

Solar energy 17.06.2021

Axpo UK and Voltalia sign a 10-year fixed price PPA for a solar park in England

Axpo is further strengthening its position in the UK energy market: Its subsidiary Axpo UK Ltd and French solar developer Voltalia have signed a new ten-year, fixed price power purchase agreement (PPA), it was announced today. Thereby, Axpo UK will purchase 100% of the electricity, Renewables Obligation Certificates (ROCs) and Renewable Energy Guarantees of Origin (REGOs) from Voltalia’s 7.2 MW Tonge solar park near Sittingbourne, in Kent, England.

Solar energy 17.06.2021

Axpo UK and Voltalia sign a 10-year fixed price PPA for a solar park in England

Axpo is further strengthening its position in the UK energy market: Its subsidiary Axpo UK Ltd and French solar developer Voltalia have signed a new ten-year, fixed price power purchase agreement (PPA), it was announced today. Thereby, Axpo UK will purchase 100% of the electricity, Renewables Obligation Certificates (ROCs) and Renewable Energy Guarantees of Origin (REGOs) from Voltalia’s 7.2 MW Tonge solar park near Sittingbourne, in Kent, England.

Nuclear energy 16.06.2021

High earthquake protection of Beznau NPP confirmed

The Swiss Federal Nuclear Safety Inspectorate ENSI has published its report on the assembly deviation on two of six emergency diesel generators at the Beznau nuclear power plant (KKB). ENSI concludes that KKB was safe and protected against earthquakes despite the assembly deviation.

Nuclear energy 16.06.2021

High earthquake protection of Beznau NPP confirmed

The Swiss Federal Nuclear Safety Inspectorate ENSI has published its report on the assembly deviation on two of six emergency diesel generators at the Beznau nuclear power plant (KKB). ENSI concludes that KKB was safe and protected against earthquakes despite the assembly deviation.

Company 11.06.2021

Axpo posts higher operating result

The Axpo Group achieved a good result in the first half of the 2020/21 financial year (1 October 2020 until 31 March 2021). Before special effects, operating profit (adjusted EBIT) increased by 4 per cent over the previous year to CHF 515 million.

Company 11.06.2021

Axpo posts higher operating result

The Axpo Group achieved a good result in the first half of the 2020/21 financial year (1 October 2020 until 31 March 2021). Before special effects, operating profit (adjusted EBIT) increased by 4 per cent over the previous year to CHF 515 million.

International business 09.06.2021

Axpo and ABB to develop green hydrogen pilot project in Italy

Axpo and ABB are joining forces to explore a series of synergies for the development of green hydrogen in Italy. In a letter of intent (LOI), the two companies commit to combining their innovative, technological and visionary skills for several projects and initiatives related to green hydrogen in various industrial sectors.

International business 09.06.2021

Axpo and ABB to develop green hydrogen pilot project in Italy

Axpo and ABB are joining forces to explore a series of synergies for the development of green hydrogen in Italy. In a letter of intent (LOI), the two companies commit to combining their innovative, technological and visionary skills for several projects and initiatives related to green hydrogen in various industrial sectors.

Solar energy 07.06.2021

Axpo signs Sweden’s first market-based solar PPA with Sparbanken Skåne solar park

Axpo has signed a 10-year power purchase agreement (PPA) with the Sparbanken Skåne solar park, underlining its leading role as a provider of renewable energy PPAs in Sweden. Working with one of Sweden’s largest solar developers, Svea Solar, Axpo is now breaking ground with the country’s first market-based solar PPA, proving the case for commercial solar build-out.

Solar energy 07.06.2021

Axpo signs Sweden’s first market-based solar PPA with Sparbanken Skåne solar park

Axpo has signed a 10-year power purchase agreement (PPA) with the Sparbanken Skåne solar park, underlining its leading role as a provider of renewable energy PPAs in Sweden. Working with one of Sweden’s largest solar developers, Svea Solar, Axpo is now breaking ground with the country’s first market-based solar PPA, proving the case for commercial solar build-out.

Renewable energy 03.06.2021

Axpo Iberia powers Europe's first carbon-free ferry crossing

Axpo Iberia and the Spanish ferry operator Baleària today reached an important milestone for zero-emission maritime shipping. For the first time in Europe, a high-speed ferry has made a test crossing using only fuel from 100% renewable sources. The ferry ‘Eleanor Roosevelt’, flagship of the Baleària fleet, is equipped with natural gas hybrid engines and completed the route of 133 nautical miles between Barcelona and Ciutadella (Menorca) using renewable biomethane certified by Axpo Iberia.

Renewable energy 03.06.2021

Axpo Iberia powers Europe's first carbon-free ferry crossing

Axpo Iberia and the Spanish ferry operator Baleària today reached an important milestone for zero-emission maritime shipping. For the first time in Europe, a high-speed ferry has made a test crossing using only fuel from 100% renewable sources. The ferry ‘Eleanor Roosevelt’, flagship of the Baleària fleet, is equipped with natural gas hybrid engines and completed the route of 133 nautical miles between Barcelona and Ciutadella (Menorca) using renewable biomethane certified by Axpo Iberia.

Solar energy 01.06.2021

AlpinSolar: construction starts on the largest alpine solar plant in Switzerland

Over the next four months, Axpo and IWB will build the largest alpine solar plant in Switzerland at the Muttsee dam. Following construction approval from the local municipality of Glarus Süd, the first components were transported to the dam yesterday. AlpinSolar will generate 3.3 million kilowatt hours of electricity annually, half of which in winter. Supermarket chain Denner has concluded a power purchase agreement for the electricity it produces over a period of 20 years.

Solar energy 01.06.2021

AlpinSolar: construction starts on the largest alpine solar plant in Switzerland

Over the next four months, Axpo and IWB will build the largest alpine solar plant in Switzerland at the Muttsee dam. Following construction approval from the local municipality of Glarus Süd, the first components were transported to the dam yesterday. AlpinSolar will generate 3.3 million kilowatt hours of electricity annually, half of which in winter. Supermarket chain Denner has concluded a power purchase agreement for the electricity it produces over a period of 20 years.

Nuclear energy 25.05.2021

KKB 1: Back on the grid after refueling

Following successful refueling, Axpo brought Unit 1 of the Beznau nuclear power plant (KKB) back online during the course of Monday. With the new loading of the reactor core, KKB 1 will start the next operating cycle and will again produce electricity around the clock for more than 600,000 four-person households.

International business 25.05.2021

Axpo Iberia and Grupo Enhol sign a 5-year PPA for new wind farm in Navarra

Axpo Iberia further expanded its long-term power purchase agreements (PPA) business for renewable energy in Spain with the signing of a five-year PPA with Grupo Enhol, it was announced today. The PPA covers electricity generated by a new 50-MW wind farm in the municipality of Buñuel (Ribera de Navarra), which commenced construction this week and is planned to start operating in July 2022.

Nuclear energy 25.05.2021

KKB 1: Back on the grid after refueling

Following successful refueling, Axpo brought Unit 1 of the Beznau nuclear power plant (KKB) back online during the course of Monday. With the new loading of the reactor core, KKB 1 will start the next operating cycle and will again produce electricity around the clock for more than 600,000 four-person households.

International business 25.05.2021

Axpo Iberia and Grupo Enhol sign a 5-year PPA for new wind farm in Navarra

Axpo Iberia further expanded its long-term power purchase agreements (PPA) business for renewable energy in Spain with the signing of a five-year PPA with Grupo Enhol, it was announced today. The PPA covers electricity generated by a new 50-MW wind farm in the municipality of Buñuel (Ribera de Navarra), which commenced construction this week and is planned to start operating in July 2022.

Renewable energy 18.05.2021

Axpo Iberia signs solar PPA with Berry Global

One of the world's leading suppliers of plastic packaging will soon be powering its plants in Spain with climate-friendly solar electricity under a Power Purchase Agreement (PPA) with Axpo Iberia. The U.S. company Berry Global will be supplied with electricity over a ten-year period from a new 50-MW plant to be built by Spanish project developer Solaria. Due for completion by the end of 2021, the plant is part of the 626-MW Trillo project, which will be the largest solar park in Europe.

Renewable energy 18.05.2021

Axpo Iberia signs solar PPA with Berry Global

One of the world's leading suppliers of plastic packaging will soon be powering its plants in Spain with climate-friendly solar electricity under a Power Purchase Agreement (PPA) with Axpo Iberia. The U.S. company Berry Global will be supplied with electricity over a ten-year period from a new 50-MW plant to be built by Spanish project developer Solaria. Due for completion by the end of 2021, the plant is part of the 626-MW Trillo project, which will be the largest solar park in Europe.

Company 10.12.2020

Robust Axpo achieves a strong result in a challenging environment

The Axpo Group achieved a very good result in the 2019/20 financial year (1 October 2019 to 30 September 2020) despite the challenges posed by the COVID-19 pandemic. The markedly positive result achieved as in previous years in the Trading & Sales business area was accompanied by solid contributions to earnings from the other business areas. Axpo benefited from slightly higher hedged electricity prices compared to the previous year and took advantage of the opportunities offered by volatility in the energy markets.

International business 01.12.2020

Axpo opens new branch in Greece

Axpo, a leading European energy supply and trading business, has opened a new branch in Greece, it was announced today. Led by newly appointed country manager Vasileios Machias, the Athens based office will offer a range of risk management and market access solutions to local customers and partners.

Renewable energy 21.10.2020

Energy transition and security of supply are possible but need bold policy decisions

Switzerland can complete the energy transition and achieve security of supply at the same time, according to Axpo CEO Christoph Brand and Chief Economist Martin Koller. Speaking today to representatives from government, industry, politics and academia at an online presentation, they explained how this could be achieved and financed. The necessary expansion of renewable energies is possible, they stressed, if the right approval processes and financing options are put in place.

Renewable energy 21.10.2020

Energy transition and security of supply are possible but need bold policy decisions

Switzerland can complete the energy transition and achieve security of supply at the same time, according to Axpo CEO Christoph Brand and Chief Economist Martin Koller. Speaking today to representatives from government, industry, politics and academia at an online presentation, they explained how this could be achieved and financed. The necessary expansion of renewable energies is possible, they stressed, if the right approval processes and financing options are put in place.

International business 23.06.2020

Axpo takes over flexibility commercialization of Nordic’s largest battery storage unit

Axpo Nordic continues to expand its business in the commercialization of flexibility by entering the market of battery storage systems: The subsidiary of Axpo has concluded an agreement with Neoen, a global leader in battery-based grid services, for the provision of ancillary services from a newly built lithium-ion battery storage unit in Yllikkälä (Finland). In this context, Axpo Nordic will be responsible for the marketing of the facility’s flexibility on the Finnish market, and manage the battery’s energy production and consumption when it comes to charging and discharging.

Company 08.06.2020

Strong operating performance – but earnings blunted by financial markets

The Axpo Group’s half-year financial results for 2019/20 (1 October 2019 to 31 March 2020) were influenced by two factors: a strong operating performance, which was up once again on the prior-year period, and the negative impact of volatility on the financial markets. The funds for the decommissioning and disposal of nuclear power plants (STENFO) had a particularly significant negative impact on results of CHF 389 million. Whereas earnings before interest and tax (EBIT) were still only slightly lower at CHF 329 million despite the Covid-19 crisis, the result for the period fell to CHF – 24 million.

Renewable energy 03.06.2020

Axpo unveils "Smart Energy Lab" at Umwelt Arena Spreitenbach

Whenever we need it, electricity comes reliably from the plug socket. For this to be the case, innumerable factors must interact within the power supply system. Axpo's new permanent exhibition "Smart Energy Lab" at Umwelt Arena Spreitenbach conveys these interrelationships in an interactive and playful way.

Nuclear energy 22.05.2020

Beznau nuclear power plant: Unit 1 back on grid after scheduled outage

The Beznau nuclear power plant (KKB) has completed refurbishment work on Unit 1 and reconnected the reactor to the grid today following the approval of the Swiss Federal Nuclear Safety Inspectorate (ENSI). It was possible to complete the work on schedule despite all the corona-related restrictions and additional efforts.

Wind power 19.05.2020

Axpo and Green Investment Group extend PPA cooperation to Norway

Axpo Nordic reinforces its role as a leading marketer of renewable energy in the Nordics by concluding two more long-term route-to-market power purchase agreements (PPA) with UK-based Green Investment Group’s (GIG) wind farms Buheii and Tysvær in Norway. Currently under construction with commercial operation expected in the second half of 2021, the wind farms will provide energy to the Norwegian smelters of Eramet, a global mining and metallurgical group. Axpo Nordic is responsible for facilitating the corporate PPA between GIG and Eramet Norway through the balancing of the wind farms and managing the physical power delivery.

Renewable energy 30.04.2020

Energy Act: Investments in renewables have to be worthwhile

Targeted investment incentives are needed in order for Switzerland to achieve a substantial expansion of renewable energies. The investment contributions proposed under the revision of the Energy Act are not suitable for large-scale plants. Furthermore a risk guarantee to ensure long-term investments in existing hydropower plants is lacking. Axpo proposes appropriate alternatives.

Company 30.04.2020

Christoph Brand takes over as new CEO of Axpo on 1 May

Christoph Brand (50) takes up his new position as the new CEO of Axpo Holding AG on 1 May. He succeeds Chairman Thomas Sieber, who has been in charge of the interim operative management of the company since October 2019.

Nuclear energy 17.04.2020

Beznau nuclear power plant: Start of the annual revision of Unit 1

Today, the Beznau nuclear power plant (KKB) is taking Unit 1 off the grid for just over a month as planned for inspection work and for the replacement of fuel elements. This marks the end of an op-erating cycle of just over 300 days.

Company 14.04.2020

Axpo expects half-year results for 2019/20 to be significantly lower than last year

Axpo expects the result for the period of the first half of 2019/20 to be significantly lower than in the previous year despite good operating performance.

Renewable energy 02.04.2020

Alliance for an effective financing model for renewable energies

An alliance of the Swiss energy industry, consisting of the major energy suppliers, municipal utilities and various industry associations, is demanding that the Federal Council provides an effective and market-oriented financing model for renewable energies that will put an end to the current blockade on domestic investments and thereby guarantee security of supply. The demands include a binding development path for renewable energies and the introduction of competitive tenders with a floating market premium, taking into account European regulatory guidelines.

Renewable energy 01.04.2020

Building permit granted for Muttsee solar plant

The first large-scale alpine solar plant in Switzerland can be built. The relevant authorities have approved the building application. Due to new findings, the plant design will be slightly adapted. Axpo plans to build the plant on the Muttsee dam in the summer of 2021.

Hydropower 17.03.2020

KSL: Year of production above average

At the Annual General Meeting of Kraftwerke Sarganserland AG (KSL), the shareholders approved the 2018/19 annual financial statement. KSL has had a productive year of operations.

Hydropower 17.03.2020

KLL increased production

The shareholders of Kraftwerke Linth-Limmern AG (KLL) have approved the 2018/19 annual financial statements and resolved to pay a dividend of CHF 1.75 million.

Solar energy 04.03.2020

Axpo to build solar plants for Paris airports

By 2021, Axpo's subsidiary Urbasolar will build three solar plants in France to produce solar power for the Paris airports. The plants will cover around 10 percent of the electricity needed by the airports Charles de Gaulle, Orly and Le Bourget.

Wind power 27.01.2020

Axpo takes over power marketing of Global Tech I offshore wind farm

Axpo continues to expand its business in the direct marketing of electricity from renewable energies in Germany: Axpo's German subsidiary has been responsible for the overall marketing of the Global Tech I (GT I) wind farm in the North Sea since the beginning of 2020. Axpo Deutschland was awarded the contract at the end of 2019.

Hydropower 22.01.2020

Axpo supplies Sunrise with electricity from hydro-power

Since the beginning of 2020, the largest private telecommunications provider in Switzerland relies on hydropower: Axpo has concluded a full supply contract with Sunrise. The agreement includes the supply of electricity from the Axpo hydropower plants to all the Sunrise locations in Switzerland.

International business 20.01.2020

Axpo UK signs deal for energy supply and wholesale market access with So Energy

Axpo is further expanding its business in the UK market: The company’s subsidiary in London and So Energy, a challenger supplier to the UK domestic market, have today announced a three-year energy supply and trading deal.

Company 17.01.2020

Annual General Meeting Axpo Holding AG – shareholders waive dividend

The 19th Annual General Meeting of Axpo Holding AG on 17 January 2020 has approved the annual report and the annual financial statements for 2018/19, and agreed on all other motions. The shareholders waived their dividend again.

International business 15.01.2020

Axpo signs deal for energy supply and market access with Valda Energy

Axpo’s subsidiary in London and Valda Energy, a new energy supplier to the UK SME business market, have just announced a three-year deal for energy supply. Thus, Axpo further strengthens its position in the UK energy market.

Hydropower 14.01.2020

Kraftwerke Linth-Limmern AG increased electricity production in 2018/19

Today, the Board of Directors of Kraftwerke Linth-Limmern AG (KLL) approved the 2018/19 annual financial statement prepared for the Annual General Meeting to be held on 19 March 2020. KLL's energy production to Axpo and the Canton of Glarus increased to 1.49 billion kWh in financial year 2018/19 (previous year 1.38 billion kWh). Annual costs increased in parallel.

Hydropower 09.01.2020

Aarekraftwerk Klingnau AG: Less water, less electricity

Today, the Board of Directors of Aarekraftwerk Klingnau AG (AKA) approved the 2018/19 annual financial statement prepared for the Annual General Meeting to be held on 13 March 2020. In financial year 2018/19, AKA's energy production to partners amounted to 186 GWh, which was slightly lower as compared to the previous year owing to below-average water flow in the Aare River. Annual costs also decreased in parallel.

Company 11.12.2019

Axpo significantly increased its operating result – success in trading and renewables

Axpo posted a strong operating result for the 2018/19 financial year. Earnings before interest and tax (EBIT) before one-off effects were up 56% to CHF 542 million, or CHF 850 million after one-off effects (previous year: CHF 348 million). Axpo raised the result for the period from CHF 131 million to CHF 865 million. The strategy of networking production, trading business and international customer business has paid off, even in a difficult market environment, with all Axpo Group business areas achieving pleasing operating results.

Solar energy 28.11.2019

Axpo plans first large-scale, alpine solar plant in Switzerland

Axpo plans to install the first large-scale, alpine solar plant in Switzerland on the Muttsee dam at the Limmern pumped storage plant. With the 2-megawatt pioneer project, Axpo is driving forward the expansion of renewable energies in Switzerland. The plant will generate about half of its power production during the winter – when there is generally a power shortage.

International business 29.10.2019

Axpo signs long-term PPA for two wind farms in Finland

Axpo is further expanding its business in the field of long-term power purchase agreements (PPA) for renewable energies in the Nordic region: The company’s subsidiaries Axpo Nordic AS and Axpo Finland Oy have agreed to buy the full output generated by the 30 MW Kröpuln and the 30 MW Storbacken wind farms currently under construction in Finland’s Ostrobothnia region. After having signed several long-term PPAs in Sweden in the past months, this PPA is a major step for the company’s business in Finland.

International business 11.10.2019

Axpo subsidiary Volkswind inaugurates wind farm in France

Axpo, Switzerland's largest producer of renewable energy, is continuing to develop its wind power portfolio. Axpo subsidiary Volkswind has commissioned a 16-megawatt wind farm in Antezant-la-Chapelle, Western France.

Grids 02.10.2019

Joining forces to enhance power supply for the Glarus region

Axpo, SN Energie and tb.glarus are modernising the grid infrastructure in the Canton of Glarus. Jointly defined measures will sustainably enhance power supply to residents and businesses in the region of Glarus-Schwanden taking environmental aspects into account.

International business 26.09.2019

Axpo Deutschland takes over gas supply contracts to large industrial customers from Gas Natural Europe

Axpo Deutschland is expanding its business activities in the natural gas area: As per 1 September 2019, the Axpo subsidiary took over an extensive portfolio of major natural gas customers. The seller is the German sales office of the French company Gas Natural Europe, which is part of the Naturgy Group.

Nuclear energy 25.09.2019

"Wir von der Insel" – the book on the occasion of the Beznau 50-year anniversary

The Beznau nuclear power plant (KKB) took up operation five decades ago. This marked the beginning of half a century of climate-friendly power production and an important part of Swiss industrial and technological history. The initial euphoria about using the new technology was huge, but soon a wave of criticism washed over the nuclear power plant. Axpo has published a book on the occasion of the Beznau 50-year anniversary. "Wir von der Insel" tells the story of the three generations that worked and still work at Beznau with a strong commitment.

Nuclear energy 20.09.2019

Beznau nuclear power plant: Unit 2 back on grid after scheduled outage

The Beznau nuclear power plant (KKB) has completed refurbishment work on Unit 2 and reconnected it to the grid today following the approval of the Swiss Federal Nuclear Safety Inspectorate (ENSI).

Company 19.09.2019

Christoph Brand appointed new Axpo CEO

Christoph Brand (50, Swiss) will become the new CEO of Axpo Holding AG. Brand, who is currently the Deputy CEO of Tamedia AG, was appointed as the new CEO by the Axpo Holding AG Board of Directors. He will begin his new position by the summer of 2020 at the latest. Brand succeeds Andrew Walo (55) who, as communicated in June, is leaving Axpo. As of 1 October, Chairman Thomas Sieber will take over the operative management of the group ad interim for the transitional period until the appointment of the new CEO as the Delegate of the Board of Directors.

Limmern pumped-storage plant 18.09.2019

Axpo to market Canton of Glarus KLL energy share

The Canton of Glarus and Axpo have come to an agreement on how to implement the court settlement concerning the Limmern pumped storage plant. Among other things, the agreement specifies that the Axpo subsidiary Axpo Solutions AG will market the Canton of Glarus' energy share from its participation in Kraftwerke Linth-Limmern (KLL) until at least 31 December 2021.

Company 13.09.2019

Axpo recognizes an impairment reversal

Axpo regularly reviews the carrying amount of its production facilities and energy procurement contracts. The rise of European wholesale power prices in comparison to our previous assumptions as well as the respective forward prices for the upcoming three years indicate that the phase of record-low power prices is likely over.

Grids 12.09.2019

Line conversion in the Schaffhausen and Klettgau (Germany) area

Axpo is gradually converting its regional distribution grid from 50 kV to 110 kV. Reconstruction work on the line between the Eglisau substation and Wilchingen is necessary to accommodate the higher operating voltage. The regions of Schaffhausen and Klettgau (Germany) will benefit from a powerful grid and reliable power supply.

Limmern pumped-storage plant 09.09.2019

Kraftwerke Linth-Limmern AG: extraordinary general meeting

At the request of its shareholders, Kraftwerke Linth-Limmern AG is calling an extraordinary general meeting to be held on 30 September 2019. This is due to amendments to the Articles of Association that became necessary after the settlement between the two KLL shareholders.

Hydropower 22.08.2019

Misoxer Kraftwerke: Preventive renovation of the Isola dam

Preventative renovation will be carried out on the Isola dam belonging to the Misoxer Kraftwerke (Canton of Grisons) this winter. In order to relieve the stresses on the inner dam wall that occurred through concrete swelling a cut will be made in the dam wall. This is a globally proven method. The work is expected to be completed next spring. The safety of the dam is ensured at all times.

Wind power 20.08.2019

Axpo sells four wind farms to EB Erneuerbare Energien Fonds Europa

Axpo continues to consistently implement its strategy goal to realise higher earnings from the renewable energies business: Four newly developed wind farms from the extensive portfolio belonging to the subsidiary Volkswind GmbH in France will become the property of EB Erneuerbare Energien Fonds Europa. In addition, the purchase agreement stipulates that Volkswind will continue to be responsible for operational management of these wind farms in the future.

Nuclear energy 09.08.2019

Beznau nuclear power plant: Scheduled outage of Unit 2

The Beznau nuclear power plant (KKB) will take Unit 2 off grid as scheduled tomorrow, 10 August 2019, in order to perform inspection work and refuelling. The work will take about 40 days. This marks the end of a malfunction-free operating cycle of about 400 days, which began on 9 July 2018.

Nuclear energy 06.08.2019

Beznau nuclear power plant: Unit 1 back on line

Unit 1 of the Beznau nuclear power plant (KKB) was resynchronised with the grid around midday and electricity production was resumed. Last night, a fault in the Beznau substation - probably due to lightning strike - triggered a rapid shutdown of unit 1. The system reacted as designed. The safety of the employees and the population was guaranteed at all times.

International business 26.07.2019

Axpo implements PPA in the German solar market for the first time

Axpo Deutschland, Axpo's subsidiary for the German market, has concluded a long-term power purchase agreement (PPA) for solar power without any state subsidies for the first time. It is one of the very first PPAs in the German solar market.

Solar energy 25.07.2019

Axpo finalises take-over of the PV company Urbasolar

Axpo has received approval from the respective authorities for the definitive acquisition of the French photovoltaics company Urbasolar. The transaction will make Axpo an important market player in the development and construction of solar plants in France and Europe.

Company 19.06.2019

CEO Andrew Walo to leave Axpo – succession process initiated

Andrew Walo (56), who has been the Chief Executive Officer of Axpo Holding AG since 2014, has decided to leave Axpo by the end of the year at the latest in order to pursue new plans. The Board of Directors has initiated the succession process.

International business 12.06.2019

Axpo concludes another long-term PPA for a wind farm in Sweden

After having signed a couple of long-term power purchase agreements (PPA) for Swedish wind farms in the past months with several international renewable energy investment companies, Axpo’s subsidiary in the Nordic markets has agreed to buy the output generated by the 43 MW Hornamoss-en wind farm which will soon be under construction in Sweden’s Jönköping municipality. The respective long-term PPA was signed with the UK-based Green Investment Group. Thus, Axpo under-pins its role as one of the leading marketers of power from renewable energies in the Nordics.

Company 11.06.2019

Axpo increases earnings before interest and tax, profitable international business

The Axpo Group achieved a gratifying result in the first half of the 2018/19 financial year. The good operating performance in the reporting period (1 October 2018 to 31 March 2019) was primarily attributable to higher electricity production, international activities and ongoing cost discipline. The planned takeover of French photovoltaic company Urbasolar means that Axpo is strengthening its exposure to renewable energies and will be obtaining a platform for further growth in the international solar business.

Nuclear energy 10.06.2019

Beznau nuclear power plant: Unit 1 back on grid after scheduled outage

Scheduled maintenance work on Unit 1 of the Beznau nuclear power plant (KKB) has been completed and the plant went back on grid this evening after approval by the Federal Nuclear Safety Inspectorate (ENSI).

Grids 06.06.2019

Axpo and CKW expanding battery storage business

Together Axpo Grids and CKW offer comprehensive large-scale battery solutions including planning, installation and energy market integration. A battery storage system with a capacity of 2 MW will now be realised at Elektrizitätswerk Jona-Rapperswil AG (EWJR) in cooperation with Axpo Grids and CKW. The installation will contribute to grid stability.

Limmern pumped-storage plant 28.05.2019

Limmern pumped storage plant: New passenger cableway from Tierfehd to Kalktrittli goes into operation

Axpo has achieved another milestone at the Limmern pumped storage plant: In June, the new aerial cableway between Linthal-Tierfehd and Kalktrittli will go into operation running on the track formerly used by the dismantled construction cableway 1. The passenger cableway is equipped with the latest technology enabling unmanned operation and monitoring from the power plant control centre.

Grids 24.05.2019

Approval granted for underground cabling between Horgen and Wädenswil

The Federal Inspectorate for Heavy Current Installations (ESTI) has granted Axpo the planning authorisation for the power line section between Horgen and the Wädenswil (ZH) substation. No complaints opposing the submitted planning proposal were filed during the authorisation process. Construction is scheduled to begin in June 2019.

Nuclear energy 03.05.2019

Beznau nuclear power plant: Scheduled outage of Unit 1

The Beznau nuclear power plant (KKB) will take Unit 1 off grid as scheduled today, 3 May 2019, in order to perform inspection work and refuelling. This marks the end of a malfunction-free operating cycle of about 400 days.

Solar energy 02.05.2019

Axpo acquires Urbasolar and launches growth initiative in the solar energy business

Axpo is entering into the international solar business and, on 30 April 2019, signed a contract for the acquisition of the French photovoltaics company Urbasolar. In doing so, Axpo continues to consistently pursue a strategy for profitable growth in the international business. After successfully developing the wind business with the subsidiary Volkswind, Axpo intends to take advantage of synergies in the economically attractive photovoltaics market. Urbasolar will be managed as an independent company. The company will serve as a platform to expand the solar business in Europe.

International business 19.04.2019

Axpo and the German investment firm Aquila Capital ink long-term PPA for two wind farms in Sweden

Axpo is further expanding its business in the field of long-term power purchase agreements (PPA) for renewable energies in the Nordic region: The company’s subsidiary Axpo Nordic AS has agreed to buy the full output generated by the 68,4 MW Nylandsbergen wind farm and the 64,8 MW Högkölen wind farm in Northern Sweden. Both plants are owned by Aquila Capital, a Hamburg-based alternative investment company focusing on renewable energy investments in the Nordics. In addition to the long term power hedging contract, Axpo will grant Aquila Capital market access for the sale of the corresponding electricity certificates and GoO (Guarantees of Origin).

Solar energy 18.04.2019

Axpo to purchase French photovoltaic company

In the course of its targeted growth strategy, Axpo has entered into exclusive purchase negotiations with the owners of the French photovoltaic company Urbasolar. With the acquisition, Axpo intends to further expand its leading position in the area of renewable energies. Urbasolar plans, constructs and sells photovoltaic systems.

International business 02.04.2019

Axpo and re:cap global investors conclude long-term PPA for Swedish wind farm Bröcklingberget

Axpo Nordic AS has once again underlined its pioneering role in the field of long-term power purchase agreements (PPA): together with re:cap global investors, an internationally-oriented asset manager for renewable energy investments based in Zug/Switzerland, the North European subsidiary of Axpo signed a 10 years fixed-price power contract for an onshore wind farm in Bröcklingberget, Sweden, and secures the revenue stream for investors by means of a PPA.

Limmern pumped-storage plant 27.03.2019

Limmern PSP: Axpo and the Canton of Glarus reach settlement

Axpo and the Canton of Glarus have come to an agreement on their collaboration regarding the Limmern pumped storage plant (LPSP). The agreement was the outcome of a preparatory hearing before the Supreme Court of the Canton of Berne. The Canton of Glarus will bear 15 per cent of the annual costs for the LPSP up to its commissioning on 18 August 2017. Costs incurred after this point in time will be fully borne by Axpo because the Canton of Glarus will no longer procure power from LPSP.

Limmern pumped-storage plant 21.03.2019

Kraftwerke Linth-Limmern AG: Annual General Meeting approves the financial statement 2017/18

The Annual General Meeting of Kraftwerke Linth-Limmern AG (KLL) approved the annual financial statement for 2017/18 and the payment of the statuary dividend in the amount of 1.5% on theshare capital of CHF 350 million. This corresponds to CHF 5.25 million.

Hydropower 21.03.2019

Kraftwerke Sarganserland AG: Financial year with higher power production

The Annual General Meeting of Kraftwerke Sarganserland AG (KSL) approved the annual financial statement for 2017/18 and the payment of a statuary dividend in the amount of 1.5% on the sharecapital of CHF 50 million. As compared to the previous year, the financial year was marked by higher precipitation and increased power production.

International business 14.03.2019

Axpo named worldwide number 1 in power trading again – stronger focus on PPA

Axpo once again received top marks from its customers and business partners in the annual survey conducted by the trade magazines “Risk” and “Energy Risk”: In the category power trading, the company defended its first place worldwide and, as in previous years, achieved numerous top rank-ings in many countries. Moreover, Axpo was very successful in the area of gas trading. The excel-lent results confirm that the continuous expansion of the international customer and trading busi-ness is bearing fruit and has been well received by customers and partners. There is strong cus-tomer demand in the area of Power Purchase Agreements (PPA). The long-term power supply and purchase agreements are developing into a mega-trend in the area of renewable energies.

Company 08.03.2019

Board of Directors nominates Martin Keller

The Board of Directors of Axpo Holding AG has nominated Martin Keller, an entrepreneur and a member of parliament in the Canton of Aargau, as a new member of the board. The election will be held at the extraordinary General Meeting of Axpo Holding AG on 11 April 2019.

Nuclear energy 21.02.2019

Decommissioning and Waste Disposal Funds: Reduction of real return rate is unnecessary, arbitrary and detrimental

The Federal Council's draft for the revision of the Ordinance on the Decommissioning Fund and Waste Disposal Fund (SEFV) for Nuclear Installations currently under consultation is politically questionable and a shot in the foot in terms of energy policy. The elimination of the lump sum safety surcharge of 30 per cent is appropriate. However, Axpo opposes the arbitrary reduction of the funds' real return rate from 2 to 1.6 percent. This unnecessarily ties up significant additional financial resources and has a detrimental effect on the planned restructuring of the Swiss energy supply system.

Company 04.02.2019

Axpo Holding AG Board of Directors reappointed

On 18 January 2019 the 18th Ordinary General Meeting of Axpo Holding AG confirmed all the appointed members of the Board of Directors in their functions for the term from 2019 to 2021 with the exception of Rudolf Hug, who did not stand for re-election. The Annual General Meeting also ap-proved the annual report and the annual financial statements for 2017/18.

International business 04.02.2019

“Green electricity straight from the producer”: Elblox and enviaM launch online marketplace in Eastern Germany

Elblox and the enviaM Group, a leading regional energy services provider in Eastern Germany, have signed a cooperation agreement for the use of the green electricity trading platform Elblox. The online marketplace was developed by Axpo for trading environmentally-friendly power from regional renewable energy sources and will be available in Eastern Germany in the second half of 2019. Consumers can put together their own individual renewable power mix digitally via the Elblox platform, which is based on block chain technology. Regional operators of solar, wind, hydropower and biomass plants have the opportunity to sell their produced electricity directly to local end customers via this online marketplace.

Limmern pumped-storage plant 14.01.2019

Kraftwerke Linth-Limmern AG: Higher energy production – higher annual costs

Today, the Board of Directors of Kraftwerke Linth-Limmern AG (KLL) approved the 2017/18 annual financial statement prepared for the Annual General Meeting to be held on 21 March 2019. KLL's energy production to partners rose to 1.38 billion kWh in financial year 2017/18 owing to high production from the Limmern pumped storage plant. Annual costs increased in parallel.

Company 12.12.2018

Operating result increased by 29% – profitable growth in international business

Axpo achieved a strong result in the 2017/18 financial year, with both the operating result (CHF 348 million, +29%) and cash flow from operating activities (CHF 474 million, +171%) increasing substantially compared with the previous year. This is mainly due to the strong operating performance in international business and renewable energies. However, the result in the reporting year was again weighed down by Swiss electricity production. The rise in electricity prices since 2016 will have a delayed impact on the results.

Company 07.12.2018

Axpo sells property in Laufenburg

Axpo has sold the former EGL building in Laufenburg (Canton of Aargau) to the Entwicklungsgesellschaft Stern Laufenburg AG (EGSL). On its own accounts, EGSL intends to use the property for the development and operation of a business incubator in the area of energy and secure communications. The parties have agreed not to disclose details regarding the sales price.

Company 30.11.2018

Rudolf Hug stands down from the Board of Directors of Axpo Holding AG after 16 years

Vice-Chairman Rudolf Hug (68) has informed the Board of Directors of Axpo Holding AG that he will resign at the end of the current term, i.e. at the Annual General Meeting on 18 January 2019. Hug, who has been a member of Axpo's highest steering body since 2003, wants to have more time for his own projects after 16 years. A successor to Rudolf Hug will be announced in due course.

International business 26.10.2018

Axpo markets green electricity from waste in the Netherlands

Success story for Axpo Netherlands BV: within the framework of a public tender procedure, Axpo’s Dutch subsidiary concluded a contract with AEB Amsterdam, one of the biggest raw materials and waste-to-energy companies in the Netherlands. The agreement with AEB includes the marketing of around 0.5 TWh of energy per annum, as well as spot market access, intraday trading, and financial forward market access. It will be in effect from 2018 to 2022.

Company 01.10.2018

Axpo Solutions AG: A new name for growth businesses

Since the end of September 2018, Axpo has been conducting its activities in the international customer business, foreign renewable energies, and energy trading under Axpo Solutions AG (formerly Axpo Trading AG). Axpo announced the name change back in December 2017. At the same time, targeted strategic structural adaptations are underway at Axpo Power AG.

Wind power 26.07.2018

Axpo sells four wind farms to Allianz Global Investors

The Axpo subsidiary Volkswind GmbH has sold four wind farms from its extensive portfolio in France to Allianz Global Investors. The transaction is part of Axpo's profitable growth strategy in the area of renewable energies. The construction, development, operation and sale of wind farms will continue to strengthen the profit contribution from the international business. The French wind farms will become part of the Allianz Renewable Energy Fund II (AREF II) portfolio, which is investing a total of approx. 350 million Euros in European wind and solar plants.

Company 19.07.2018

Joris Gröflin appointed as the new Axpo CFO

Joris Gröflin will begin as the new Chief Financial Officer (CFO) of the Axpo Group on 1 April 2019. Currently the CFO of Rieter Holding AG, he will take over from Ulrich Erkens, who has been managing the Axpo finance area temporarily.

Company 11.06.2018

Strategy taking effect: operating performance continues to improve, profitability strengthened

The Axpo Group achieved a solid half-year result in operational terms, increasing its operating cash flow by CHF 95 million year on year. Although operating profit (EBIT) was down by CHF 146 million at CHF 259 million, it must be borne in mind that, in the previous year, Axpo received a non-recurring compensation payment from Swissgrid for taking over the extra-high-voltage grid. Adjusting for this exceptional factor reveals that Axpo succeeded in keeping its operating result at the previous year’s level despite lower revenues from electricity sales. The Group’s rigorous implementation of a strategy geared towards strengthening cash flow and increasing value is paying off. The recommissioning of block 1 at the Beznau nuclear power plant in March 2018 is also helping to strengthen Axpo’s profitability.

Limmern pumped-storage plant 28.03.2018

Kraftwerke Linth-Limmern AG: Annual General Meeting approves the annual financial statement 2016/17

Today, the Annual General Meeting of Kraftwerke Linth-Limmern AG (KLL) approved the annual financial statement for 2016/17 and the payment of a statuary dividend of 1.5% on a share capital of CHF 350 million. This amount corresponds to CHF 5.25 million. The past financial year was marked by the successful completion of the Limmern pumped storage plant project.

International business 13.03.2018

Axpo named best power trader in the world

Worldwide recognition for Axpo: Number 1 nine times and once again the world's best power trading company in the annual survey conducted by the trade magazines "Risk" and "Energy Risk”. After achieving numerous top ranks in previous years, customers and business partners voted Axpo the number 1 in nine categories this year. The excellent feedback demonstrates that Axpo is the leader in many markets when it comes to customer needs such as local presence, speed and agility.

International business 08.03.2018

Axpo to supply Italian Unilever plants with power from its own wind farm

The Unilever Group is focusing on electricity from renewable sources: From 2018 to 2020, the company will procure the electricity for its plants in Italy from the Southern Italian wind farm WinBis, which is owned by Axpo. The conclusion of this contract marks the starting shot for the “Axpo Green Energy” programme, a new type of certification for renewable energies in Italy.

Company 26.01.2018

Axpo Chief Financial Officer Martin Schwab appointed as new CEO of Axpo subsidiary CKW

Martin Schwab, the CFO of Axpo Holding AG, will take over operative management of Centralschweizerische Kraftwerke AG (CKW) on 3 April 2018. Schwab (51) succeeds Felix Graf, who – as previously communicated – will become the CEO of the NZZ Media Group. Martin Schwab, who has been the Chief Financial Officer of Axpo Holding AG since 2011, developed and optimised Axpo's financial structure and successfully managed various strategic projects.

International business 24.01.2018

Non-subsidised solar plant: Axpo breaks new ground in Portugal

Axpo Iberia, the Axpo subsidiary for the Spanish and Portuguese market, has facilitated the financing and construction of a 25-MW solar plant in the Portuguese city of Évora. The venture is unique: This is the first project to be realised on the Iberian Peninsula thanks to a power procurement agreement with a 10-year term and absolutely no public subsidies. With this undertaking, Axpo is laying the foundation for the development of similar construction projects in upcoming years, and developing a new business field.

Company 19.01.2018

Two new members appointed to the Axpo Board of Directors

On 19 January 2018, the Annual General Meeting appointed Stefan Kessler (Jenins/GR) and Stephan Kuhn (Schaffhausen) to the Axpo Holding AG Board of Directors for the term from 2017 to 2019. The appointment of these two new members marks the completion of restructuring of the Board of Directors that began in 2017.

Company 21.12.2017

Two new members proposed to the Axpo Holding AG Board of Directors

Stefan Kessler (Jenins/GR) and Stephan Kuhn (Schaffhausen) have been proposed as members of the Axpo Holding AG Board of Directors for a term from 2017 to 2019. The Board of Directors will propose the two members to the General Meeting on 19 January 2018. With these two personnel changes, the restructuring of the Board of Directors that commenced in 2017 will be completed.

Company 20.12.2017

Sustained profits from Europe, but further losses in electricity production in Switzerland

Axpo ended the 2016/17 financial year with a pleasing result for the period of CHF 310 million (previous year: CHF -1,252 million). In an environment that remains dominated by low electricity prices and influences that distort the market, the result was boosted by systematic implementation of its strategy, which is geared towards strengthening cash flow and increasing value. As income prospects from electricity sales from 2020 onwards have improved, no substantial impairments were required in contrast to previous years.

International business 12.12.2017

Axpo expands its private customer business with Coop Italia

Axpo is expanding its private customer business in Italy: In order to continue developing its customer base, Axpo Italia SpA has acquired a 5-per cent minority share in Alleanza 3.0 Luce e Gas SpA. This company is part of the largest cooperative belonging to the leading Italian retail chain Coop (Cooperativa di Consumatori), and is active in power and gas trading for private customers.

Company 29.11.2017

Felix Graf to leave the Axpo Group

Felix Graf (50), Axpo Executive Board member and the CEO of the Axpo subsidiary CKW, will step down from his position on 31 May 2018. He has been appointed as the new CEO of the NZZ Media Group.

International business 20.11.2017

Electricity from the neighbourhood: Axpo launches a blockchain model for renewable energies

Simply order eco-friendly electricity from the neighbour's photovoltaic system, or from the local farmer's biogas plant, or from the local windmill operator: Together with the Wupper-taler Stadtwerke (WSW) in Germany, Axpo is putting this vision into practice under the name Elblox. With the help of blockchain technology, WSW customers can put together their own power mix digitally. In turn, regional operators of solar, wind, hydro and biomass plants have the opportunity to sell their produced electricity directly to end customers.

Company 19.09.2017

Axpo anticipates positive annual result - Strategy to go forward initially with own resources

In contrast to previous years, no substantial impairments are expected so that Axpo Holding AG anticipates a positive annual result for the financial year 2016/17 (ending on 30 September 2017). Thanks to operative progress and improved income prospects as of 2020, Axpo will be able to finance the new strategic direction of the Group that was announced in 2016 with its own resources. The combination of growth fields in one unit "Axpo Solutions" will be pursued in such a way as to make entering the capital market possible if the market environment changes within a year. In doing so, Axpo is ensuring its strategic flexibility in order to quickly respond to new market situations.

International business 13.07.2017

Axpo expands its international presence with new offices in Lisbon, Madrid and Amsterdam

Axpo is consistently expanding its business activities in the area of tailored customer solutions. Having recently opened its own subsidiary in Lisbon in order to boost revenues from the Portuguese market, the company has also now expanded its presence in Madrid and Amsterdam.

Wind power 09.06.2017

Axpo subsidiary Volkswind puts new windfarm into operation in France

Volkswind GmbH, a 100-per cent subsidiary of Axpo, has put the new Massay 2 wind farm into operation in France. The wind farm includes 7 turbines with an output of 3.3 MW each, and is located 100 kilometres south of Orleans. The rotor blades on the individual wind turbines reach a height of 175 metres. Massay 2 is one of the highest wind power plants in France and generates power for some 20,000 people.

Limmern pumped-storage plant 23.03.2017

Kraftwerke Linth-Limmern AG: Successful financial year 2015/16 with significantly higher power production

Today, the General Meeting of Kraftwerke Linth-Limmern AG (KLL) approved the annual financial statement 2015/16 and the payment of a 1.5% dividend totalling CHF 5.25 million from the share capital of CHF 350 million. The successful financial year is largely attributed to significantly higher power production. In addition, important milestones were achieved in the construction of the Limmern pumped storage plant.

Company 10.03.2017

Axpo downsizes Board of Directors and appoints four new members

Axpo Holding AG has restructured its Board of Directors. On 10 March 2017, the Annual General Meeting approved the reduction of the body from 13 to 9 members. Dorothée Deuring, Dr. Peter Kreuzberg, Roger Wüthrich-Hasenböhler and Dr. Hanspeter Fässler (term from 2017 to 2019) were newly appointed to the Board of Directors.

Company 17.02.2017

Four new members proposed to the Board of Directors of Axpo Holding AG

Changes on the Board of Directors of Axpo Holding AG: The new members proposed for the term from 2016 to 2019 are Dorothée Deuring, Dr. Hanspeter Fässler, Dr. Peter Kreuzberg and Roger Wüthrich-Hasenböhler. The Board of Directors will put forward this request at the Annual General Meeting on 10 March 2017.

International business 23.01.2017

Axpo named best power trader in Europe

Axpo continues to rank among the worldwide best companies in energy trading: In the most recent survey by the trade magazines „Risk“ and „Energy Risk“ the company was voted the number 1 in numerous categories. As in the previous year, Axpo is the leader among power trading companies in Europe and individual countries, and achieved top ranks in gas trading. Once again, the outstanding performance demonstrates that the consistent expansion of international presence and business activities that began years ago is bearing fruit.

Company 21.12.2016

Axpo combining growth areas of renewable energies and customer business – new investors to be brought on board

Axpo is taking another step towards opening up new areas of business and becoming less dependent on the power price. Under the working name “Axpo Solutions”, the company is to combine its expertise in two growth areas – renewable energies and its international customer business – with grid and asset marketing in a single new unit. The capital underpinning this growth strategy will come not just from Axpo itself but, from 2019, also from new investors, who will take an as-yet unspecified minority stake in the new company Axpo Solutions. Together with its new funders, therefore, Axpo intends to fully exploit the opportunities presented by renewable energies and its international customer business.

Company 06.12.2016

Axpo concludes long-term power purchase agreement for wind farm in Norway

Through its Scandinavian subsidiary Axpo Nordic AS, Axpo has concluded a long-term power purchase agreement for an onshore wind farm in Egersund, Norway. The agreement was signed with LUXCARA, a leading asset manager for renewable energy investments. In doing so, Axpo is underpinning its competence as one of the largest marketers of renewable energies in Europe.

Grids 25.10.2016

Valuation established for transmission network installations

In connection with the transfer of the transmission network from the former owners to Swissgrid, ElCom has ruled on the method for establishing the value of the transmission network installations. Applying this method, Axpo will receive additional compensation of CHF 160 million for the transfer of its transmission network to Swissgrid. The financial transaction will take place in financial year 2016/17.

Renewable energy 30.09.2016

Axpo subsidiary Volkswind successfully concludes the sale of four newly developed wind farms

Volkswind GmbH, an Axpo subsidiary, has fulfilled all the conditions required for the conclusion of the sale of four newly developed wind farms. As of 30 September 2016, the plants in Western France will become the property of Chorus Clean Energy AG, a company specialising in the operation of solar and wind energy plants. This is the first time Axpo has sold newly developed wind power plants out of the portfolio of its subsidiary Volkswind, which was taken over by Axpo last year. The sale is in line with Axpo’s strategy to realise higher value added from the business with the construction, development and sale of wind power plants.

Company 19.09.2016

Axpo strongly impairs Limmern pumped-storage power plant – further value adjustments required as prices are likely to remain low

The year-on-year contraction of around 30% in European wholesale prices for electricity is a clear sign that the price slump will last longer than expected a year ago. Axpo therefore has to adjust the value of its production plants and make provisions for energy supply contracts again in the 2015/16 financial year. In addition, the most recent impairment test has shown that the new Limmern pumped-storage power plant has to be impaired by CHF 540 million. As these adjustments are expected to burden the Group's operating profit (EBIT) by some CHF 1.4 billion, the Group is likely to post a negative net result again for the year.

Limmern pumped-storage plant 09.09.2016

Festive inauguration of the Muttsee dam

Axpo is one important step further along with the Limmern pumped storage plant (PSP). Today, 9 September 2016, the newly constructed Muttsee dam was christened in a festive ceremony. With its 1054 metres, the dam is the longest in Switzerland. Located at approximately 2500 metres above sea level, it is the highest dam in Europe. The new Muttsee dam is a key element of the new Limmern pumped storage plant. Together with the Canton of Glarus, Axpo has invested CHF 2.1 million in this highly flexible plant. With a pumping and turbine capacity of 1000 MW, the Limmern PSP will make an important contribution to the security of supply in Switzerland.

Limmern pumped-storage plant 31.08.2016

Limmern pumped storage plant: First filling on the Muttenalp fulfils requirements

Proof of safety requirements for the gravity dam of the new Limmern pumped storage plant on the Muttenalp have been fulfilled. Over a period of 60 days, Axpo filled the Muttsee reservoir to the maximum water of level of 2474 metres above sea level for the first time in order to test dam performance. Testing results fulfil all the requirements: The dam holds what it promises – in concrete terms, 23 million m3 of water. The multi-phase initial filling programme took place under close cooperation with the Swiss Federal Office of Energy (SFOE), which subsequently confirmed the safety of the plant. The Limmern pumped storage plant will make an important contribution to supply security thanks to its high pumping capacity, turbines with a performance of 1000 megawatts each, and its flexible scope of utilisation.

Company 30.06.2016

Axpo acquires Lonza as a major gas customer

Axpo has acquired Lonza as a major customer. Based on the contract, Axpo will handle the services necessary for the natural gas supply to Lonza’s production facilities in Visp. The contract begins on 1 January 2017 for a period of 3 years.

Wind power 22.06.2016

The Axpo subsidiary Volkswind sells four newly developed wind farms to German investor

Volkswind GmbH, an Axpo subsidiary, has concluded an agreement with Chorus Clean Energy AG for the sale of a wind farm portfolio in Western France. Chorus Clean Energy AG is special-ised in the operation of solar and wind energy plants. With the agreed upon sale of the four wind farms with a total installed capacity of 62.2 Megawatt (MW) to the German company, Axpo is consistently implementing its wind energy strategy. Axpo intends to realise higher added value from the renewable energies business.

Company 13.06.2016

Axpo posts half-year profit of CHF 350 million and raises revenues from renewable energies

The Axpo Group posted a profit of CHF 350 million for the first half of 2015/16, an encouraging result in the current difficult market environment in Switzerland and Europe. Although the company is continuing to battle with low wholesale prices in Europe, there are also grounds for optimism. The transformation of the Axpo Group is progressing well, and the expansion of renewable energies and the European trading business is already making a substantial contribution to the Group's results. The Axpo subsidiary Centralschweizerische Kraftwerke AG (CKW) is also doing well.

International business 02.06.2016

Large volume order for Axpo in Germany

Germany’s largest aluminium smelter „Rheinwerk“ in Neuss will procure additional electricity volumes from Axpo: Supplementary to the power contract entered into last year, Axpo will supply the subsidiary of Norwegian Norsk Hydro ASA with 1.3 TWh of electricity annually for the time period from 2021 to 2025, representing a financial volume in the nine-figure range for Axpo.

International business 17.05.2016

Construction inauguration ceremony for the Trans Adriatic Pipeline

A major milestone for the Trans Adriatic Pipeline (TAP): The official construction inauguration ceremony for the pipeline took place in the Greek port of Thessaloniki with high-ranking political figures from various European countries in attendance. By the year 2020, natural gas from the Shah Deniz phase II gas field, located southeast of Azerbaijan’s capital Baku, will flow through TAP to Southern Italy and on to Central Europe. Axpo is the initiator of this geo-strategic, economically important project and holds an interest of 5% in TAP.

Company 11.03.2016

Thomas Sieber as new Chairman

A change in leadership at Axpo Holding AG: Thomas Sieber (53) from the Canton of Glarus was appointed the new Chairman of the Board of Directors at the Annual General Meeting on 11 March 2016. He succeeds Robert Lombardini (66), who is retiring after twelve years. Also newly appointed to the Board is Köbi Frei, Government Councillor of the Canton of Appenzell Ausserrhoden.

International business 26.01.2016

Awarded again: Axpo continues to be the worldwide number 1 in power trading

For the second time in a row, market players and customers voted Axpo as the number 1 in the category “Overall Dealers Power” and hence as the best power trader worldwide. The fact that this distinction comes from its clients and other market players is both an acknowledgement and vote of confidence for Axpo. In the ranking for the worldwide best gas trading company, Axpo landed in third place. Axpo also ranks in top positions in numerous European markets in the areas of power and gas trading, and was able to improve the excellent results of the previous year.

Company 22.01.2016

Axpo Holding AG: Carmen Walker Späh appointed to the Board of Directors

The extraordinary Axpo Holding AG General Meeting of 22 January 2016 appointed Carmen Walker Späh to the Board of Directors as a representative of the Canton of Zurich. She replaces former Government Councillor Martin Graf.

Limmern pumped-storage plant 18.12.2015

First machine group at the Limmern pumped-storage power plant successfully synchronised with the grid for the first time

Today – for the first time – the first machine group at the Limmern pumped-storage power plant in the Glarus Alps has been successfully synchronised with the electricity grid. This represents a crucial milestone for the construction project. The Limmern pumped-storage power plant's total pumping and total turbine capacity are each rated at 1,000 MW. This will increase the output of the Linth-Limmern power plants from its current level of 480 MW to 1,480 MW. Axpo remains on schedule with 'Linthal 2015 which is currently the biggest construction project within the Swiss energy sector. The highly flexible plant will make an important contribution towards grid stability – and therefore security of supply – for both Switzerland and Europe.

Company 18.12.2015

Axpo achieves good operating result - Heavy loss caused by write-downs

Despite the difficult market environment, the Group's operating performance before special factors was encouraging in the 2014/15 financial year, due in part to the strategic measures introduced in 2014. However, the Swiss production business is still severely affected by the persistent low wholesale prices for electricity. Furthermore, the low euro exchange rate is causing problems for Axpo. This development necessitated renewed write-downs on the power plant fleet and on energy supply contracts, resulting in a heavy loss for the period.

International business 20.10.2015

Axpo U.S. starts its activities by appointing Jeremy Wodakow as Managing Director

Axpo will start its business activities in theUnited States in 2016. Effective January 1st 2016, Jeremy Wodakow, the previous Head of North America Gas & Power Origination and Structuring at Noble Americas based in Stamford CT, will take on the role of the Managing Director of Axpo U.S.. This appointment marks the beginning of the business activities of Axpo in the United States. So far, Axpo has been serving 35 European markets. By entering the U.S. market, the company aims at generating additional profits in the energy trading business.

Wind power 16.10.2015

Axpo successfully finalises the takeover of the wind farm developer Volkswind

Axpo has received final approval from the European authorities to purchase Volkswind GmbH and will thus become a key player in the construction and development of wind power plants in Germany and France.

Company 21.09.2015

Board of Directors nominates Thomas Sieber as new Chairman

The Glarner Thomas Sieber (53), Chairman of Salt Mobile SA, is expected to be appointed as the new Chairman of the Board of Axpo Holding AG at the Annual General Meeting on 11 March 2016. The Axpo Holding AG Board of Directors decided unanimously to put this motion before the General Annual Meeting. Sieber will succeed Robert Lombardini (66), who is retiring and has been Chairman since 2004.

Company 14.09.2015

Weak euro and low electricity prices force Axpo to make further value adjustments

The market environment remains extremely challenging for energy companies: in addition to the persistently low wholesale prices for electricity on the European market, the currency effect is now also generating considerable financial pressure. For this reason, Axpo must once again make impairments on the value of its power plants and energy supply contracts. Meanwhile, business performance in the current financial year is positive.

Wind power 02.09.2015

Swiss offshore wind farm Global Tech I in the North Sea now on grid

The offshore wind farm Global Tech I (GTI), located in the North Sea 140 kilometres off the German coastline, officially went into operation today. With a capacity of 400 megawatts, it is the largest offshore wind farm to go on grid this year in Germany. Axpo has a 24.1% share in this wind farm, making GTI the first offshore farm with substantial Swiss participation. Axpo will market the energy produced off the North Sea coast directly through its subsidiary in Germany in proportion with its own holdings.

Wind power 16.07.2015

Axpo takes over Volkswind – an important pillar for the expansion of renewable energies

On 15 July 2015, Axpo signed the sales contract for the acquisition of Volkswind GmbH, a leading wind farm developer and operator in Germany and France. With this acquisition, Axpo is strengthening its position in the area of renewable energies and entering into the market for construction and development of wind power plants in Germany and France.

Company 15.06.2015

Low wholesale prices for electricity weigh on first-half profits – cost-cutting measures taking effect

Despite pleasing progress in implementing its strategy to optimise its core business, reduce costs and open up new sources of revenue, Axpo Holding AG reports a decline in key below-the-line figures for the first half of the 2014/2015 financial year. Persistently low wholesale electricity prices are the main reason for this.

Company 13.03.2015

Annual General Meeting decides not to distribute a dividend for the 2013/14 financial year

The Annual General Meeting of Axpo Holding AG on 13 March 2015 approved the 2013/14 annual report and annual financial statements. The resolution tabled by the Board of Directors on not distributing a dividend in view of the negative business results and the still very challenging market environment was approved. Robert Marti was elected as a new member of the Board of Directors.

International business 30.01.2015

Axpo acclaimed as the leading worldwide power trader

Axpo received top ratings in the recent survey by the two industry magazines „Risk“ and „Energy Risk“: In the category „Overall Dealers Power“ the company now ranks in first place.