29. November 2024
Axpo, the energy company based in Baden in the canton of Aargau, Switzerland, has, according to a press release, signed a power purchase agreement (PPA) for the supply of electricity to the production plant for green hydrogen, green iron and green steel operated by Stegra from the Swedish capital of Stockholm. The plant, which is located in Boden, Sweden, is currently under construction. Axpo Nordic will supply 2.25 terawatt hours (TWh) of electricity over a period of three years to the Boden plant, as the company writes in the press release.
Axpo Nordic is a subsidiary of the Axpo Group and is active in the energy markets across Scandinavia and the Baltic. It focuses on electricity trading, renewable energies and energy-related services. The first power purchase agreement in Scandinavia was concluded almost 20 years ago, as Axpo writes in the press release. Axpo Nordic currently manages 24 terawatt hours of renewable electricity from wind and solar energy in the region, as well as 3.5 gigawatts of renewable electricity per year.
“Our partnership with Stegra further demonstrates Axpo’s commitment to facilitating the transition to a low-carbon economy. It is especially rewarding for us to work with a company whose business case has the potential to revolutionize the steel industry and reduce its carbon footprint”, comments Tomas Sjöberg, Managing Director of Axpo Sverige AB, which was founded in 2003 and is headquartered in Malmö.
“The delivery of this amount of power is another important building block in our energy portfolio and marks a major step forward in our efforts to decarbonize hard-to-abate industries”, explains Arne Österlind, Head of Energy Portfolio at Stegra, in the press release. ce/gba
