Axpo to invest CHF 1bn in Swiss green energy projects by 2030

Axpo Holding AG said today it is planning to invest about CHF 1 billion (USD 1.03bn/EUR 978m) in green power plants in Switzerland by the end of the decade to produce additional renewable electricity for 165,000 households and heat for 55,000 households.

The Swiss renewable power producer sees huge untapped potential for large-scale solar plants in open land areas in the Alpine country, especially in the mountains where the yield is high in the winter. Axpo plans to utilise its expertise in this area in the home market but noted that the approval processes are too long.

To tap the potential, Axpo's Swiss subsidiary CKW has already reserved land areas where solar plants capable of supplying up to 9,000 households could be built. It has also established a new business area, Photovoltaic Power Plants, with the aim of pursuing large-scale ground-mounted power plants in alpine areas and in large industrial, commercial and agricultural areas, CKW said in a separate statement.

CKW intends to realise also six wind projects in Central Switzerland and the canton of Aargau which one day could power more than 30,000 households. A project in Lindenberg is already in the planning phase with citizens expected to vote on its realisation in 2023.

Initial assessments are being conducted for the construction of another wind farm in the canton of Lucerne while planning for other projects is underway.

Apart from solar and wind, CKW is planning an expansion of its biomass capacity and is exploring raising the dam on the Goescheneralpsee lake in order to shift electricity production at the Goeschenen hydropower plant to the winter.

Throughout the group, Axpo seeks to deploy 10 GW of solar and 3 GW of wind power by 2030 with a focus on the development and construction of plants. Some of the solar and wind farms will be sold.

(CHF 1.0 = USD 1.035/EUR 0.978)

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