01.11.2021 - 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.
The phasing out of fossil energy sources cannot succeed by simply switching to renewable technologies for power production. The other prerequisite is the availability of hydrogen and green gas, which are considered key elements of the energy transition. They can be produced from renewable sources at suitable locations using power-to-X technologies.
A growing number of European countries are committing to decarbonisation through the use of hydrogen and green gas. Recognising that swift action needs to be taken to realise CO2 emission reduction goals, gas suppliers are working hard to increase the share of green gas in their supply mix. As the largest Swiss producer of renewable energy, Axpo’s investment in SGGI is an important step in supporting these efforts. With its expertise and international presence, Axpo is well placed to promote green gas development.
Other SGGI shareholders are Holdigaz SA, which primarily supplies gas to the Swiss cantons of Vaud, Valais and Fribourg, and Nordur Group GmbH, a development and investment company.