Axpo Nordic and Exilion Tuuli Ky, a Finnish renewable energy investor and producer, have signed a corporate power purchase agreement (PPA), it was announced today. The long-term deal covers the supply of 70 GWh a year of renewable electricity from a wind farm in northern Finland, which will be used to meet the energy needs of Colgate-Palmolive.
Commencing in 2025 and spanning a period of 12 years, Axpo will purchase 22.1 megawatts (MW) of clean electricity from the Ii Isokangas wind park in northern Finland, owned by Exilion Tuuli Ky. It is the first such agreement between the two parties.
The wind park, located in the municipality of Ii, comprises five turbines. Axpo will sell electricity produced by the facility to Colgate-Palmolive to supply their renewable energy needs.
Axpo Nordic Originator Lauri Konsén said: “Axpo is delighted to be co-operating with one of the biggest renewable energy producers in Finland. This agreement demonstrates Axpo’s ability to provide innovative clean energy solutions tailored to the needs of our clients.”
Exilion Investment Manager Tommi Riski said: “We are happy to support the sustainability of Colgate-Palmolive's operations with Finnish wind energy. Axpo makes it possible to sell electricity with long-term contract that enables a predictable cash flow for the institutional investors of Exilion Tuuli."
Axpo Nordic is a subsidiary of the Axpo Group, a leading international energy company headquartered in Switzerland. Operating in the Nordic and Baltic energy markets, the subsidiary has a particular focus on electricity trading, renewable energy solutions, and energy-related services. A pioneer of power purchase agreements in the Nordics, the company secured its first PPA almost 20 years ago. Axpo Nordic currently has 24 TWh of renewable power from wind and solar under management in the region and manages 3.5 GW of renewable power annually.