- Axpo Holding AG sells its remaining 12.69% ownership in domestic energy
- According to the company’s goal, investments in Switzerland’s renewables are up to $1.05 billion.
- Axpo wants to increase the installed capacity of its onshore wind and solar power by 3 GW and 10 GW by 2030
Axpo Holding AG, a Swiss producer of renewable energy, has sold its remaining 12.69% ownership in domestic energy provider Repower AG to increase its renewable energy investment. According to Axpo, the minority holding was sold immediately to Repower’s current anchor owners, EKZ, UBS Clean Energy Infrastructure Switzerland, and the Canton Grisons. The transaction’s value was not made public.
“The sale enhances our financial leeway, particularly given the expansion of wind and PV in Switzerland and internationally,” said Acpo Group’s CFO, Joris Groflin.
The sale of the non-strategic firms and stock is in line with Axpo’s plan to use the proceeds to invest in particular growth sectors. According to the company’s goal, investments in Switzerland in solar, wind, biomass, hydropower, and other technologies will total up to $1.05 billion.
Axpo wants to increase the installed capacity of its onshore wind and solar power by 3 GW and 10 GW, respectively, globally, by 2030. Some of these plants will remain under the company’s ownership, while the majority will be sold to other investors.