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Alpiq

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Alpiq
Company typePublicly traded limited
ISINCH0285509334
IndustryElectric utility
Founded2009
HeadquartersLausanne, Switzerland
Key people
Antje Kanngiesser (CEO)
Johannes Teyssen (Chairman)
Productsenergy production, energy trading, renewable energy
RevenueDecrease CHF 8.4 billion (2023)[1]
Number of employees
1221 (2023)[2]
Websitewww.alpiq.com

Alpiq is an internationally active energy group headquartered in Lausanne, Switzerland. The company was established in 2009 after the merger of Atel Holding AG (Aare-Tessin AG für Elektrizität) and EOS S.A. (Energie Ouest Suisse).

The energy group employs around 1221 people, is active in most European countries and is considered too big to fail in Switzerland.[3]

History

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The company was formed in February 2009 from the merger of Energie Ouest Suisse (EOS) and Aare-Tessin AG für Elektrizität (Atel).[4]

In 2010, Alpiq became the largest open market electric power trader in Romania, surpassing Alro Slatina, and gaining a 16% market share.[5]

From 2012 to 2016, the company's revenue fell by more than half and Alpiq incurred heavy losses in the area of hydropower. Acting as a wholesaler, the company was affected by a price drop in the wholesale market. Furthermore, unlike other renewable energies, hydropower was not supported by the state.[6][7] Alpiq therefore announced its intention to sell 49% of the hydropower plants in March 2016, but no buyer was found.[6][7]

Alpiq tried to sell its Swiss nuclear power plants to EDF in 2016, as the production costs of the nuclear power plants were higher than the electricity prices at the time.[8][9]

In March 2018, Bouygues acquired Alpiq's energy services business for over CHF 800 million. Following disagreements over the final adjustment amount, arbitration proceedings ensued.[10] This was terminated in 2020 and Alpiq refunded over CHF 50 million to Bouygues.[11]

Until 2019, Alpiq owned two coal-fired power stations in the Czech Republic until they were transferred to investor Pavel Tykač's Seven Energy Group at the end of August 2019, as Alpiq increasingly focused investments on renewable energies. Through the sale of the coal-fired power station, the company reduced its CO2 emissions by 60%.[12][13]

At a media conference in early April 2019, Alpiq announced that EDF was selling its Alpiq shares. The consortium agreement, which was to be terminated in September 2020, ended early. By the end of May 2019, EOS Holding and Primeo Energie each took over half of the share package, financed by a mandatory convertible loan from Credit Suisse. The aim was to delist Alpiq shares from the Six Swiss Exchange by means of a squeeze-out, and to split Alpiq's share capital.[14] The delisting application was approved by Six Exchange Regulation on 26 November 2019 and the delisting was set for 17 December 2019. On the last day on the stock exchange, the share price was approximately CHF 70.[15]

Company structure

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Alpiq is a public limited company under the Swiss Code of Obligations, with its registered office in Lausanne. As the operator of several power plants, it is active in the fields of energy generation and energy trading.[16] The three shareholder groups EOS Holding SA, Schweizer Kraftwerksbeteiligungs-AG and the consortium of Swiss minority shareholders each hold one third of Alpiq shares.[17]

Alpiq is managed by the Board of Directors and the Executive Board. The Board of Directors is responsible for the supervision of the Executive Board and comprises Johannes Teyssen (Chairman), Jean-Yves Pidoux (Deputy Chairman), Conrad Ammann, Tobias Andrist, Aline Isoz, Ronald Trächsel and Jørgen Kildahl.[18] The Executive Board includes Antje Kanngiesser (CEO), Michael Wider (Deputy of the CEO), Luca Baroni (CFO), Lukas Gresnigt (Head of International) and Navin Parasram (Head of Trading).[19]

In the 2023 financial year, Alpiq generated a revenue of CHF 8.4 billion[20] and employed an average of 1221 people.[21]

Sites

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Alpiq is active in various countries in Europe. In addition to its headquarters in Switzerland, the company operates further power plants at several locations in Italy, Spain, France, and Hungary.[22][23] The various nuclear and hydroelectric power plants are located in Switzerland, while the power plants for new renewable energies are located in Switzerland, Italy and France.[24][23] Other subsidiaries are located in the Czech Republic, Germany and the Nordic countries.[12][25] Alpiq is also present in Sweden with the development of a new wind farm.[26]

Activities

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Alpiq is an independent electricity producer and energy trader. The company is active in the business fields of energy generation, trading, and services. Its customers include medium-sized companies, large enterprises and public institutions.[25]

Alpiq uses hydropower, nuclear power, gas-fired and combined cycle power plants and new renewable energy sources such as small hydro, wind, and solar power plants to generate electricity. The company has a production of 17,450 gigawatt-hours (GWh), which breaks down as follows:[27]

  • 4997 GWh conventional thermal power plants (29%)
  • 5380 GWh hydropower (31%)
  • 516 GWh small hydropower, wind, and photovoltaic (3%)
  • 6557 GWh nuclear power (37%).[27]

Nuclear power plants

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The company has interests in two nuclear power plants. Alpiq holds a 40% interest in the Swiss Gösgen Nuclear Power Plant (capacity, 1060 MW) and is in charge of management. It holds a 27.4% stake in the Swiss Leibstadt Nuclear Power Plant (capacity, 1165 MW). In 2016, Alpiq attempted to sell the nuclear power plants.[9]

Hydropower plants

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Storage power plants

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The most important hydropower plants for Switzerland are the Grande Dixence Dam with a capacity of over 2000 megawatts, and the Nant de Drance Hydropower Plant with a capacity of 900 megawatts. With its capacity of 900 megawatts, the Nant de Drance is one of the most powerful pumped storage plants in Switzerland.[28]

Alpiq Holding operates the following storage power plants:[29]

Storage power plants
Name Country Capacity MW Annual production
(million kWh) 		Stake (%)
Blenio Switzerland 400 835 17%
Cleuson-Dixence[N 1] Switzerland 2069 2000 72,7%
Emosson Switzerland 420 835 50%
Gougra Switzerland 168 643 54%
Engadiner Switzerland 410 1418 22%
Grande Dixence[N 1] Switzerland 2069 2000 60%
Hinterrhein Switzerland 744 1368 9,3%
Forces Motrices Hongrin-Léman S.A. (FMHL) Switzerland 480 1000 39,3%
Maggia Switzerland 626 1265 12,5%
Electra-Massa Switzerland 340 564 34,5%
Nant de Drance Switzerland 900 2000 39%
Salanfe S.A. Switzerland 70 110 100%
Simplon Switzerland 79 238 81,9%
Zervreila Switzerland 266 550 21,6%

Run-of-river power plants

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Alpiq also owns and operates various run-of-river power plants on the Aare in the cantons of Solothurn, Valais, Bern and Aargau. The run-of-river power plant near Flumenthal has a capacity of 27 megawatts and generates 146 million kilowatt hours of electricity per year. The Gösgen run-of-river power plant near Niedergösgen is one of the largest run-of-river power plants on the Aare, with an annual production of around 300 million kilowatt hours and an output of 51.3 megawatts. On 23 September 2020, the power plant received a new 70-year concession with retroactive effect from 1 January 2020. With an output of 23 megawatts, the Ruppoldingen run-of-river power plant generates 115 million kilowatt hours per year and is certified with the Swiss green electricity label naturemade star.[30][29]

Alpiq operates the following run-of-river power plants:[31]

Run-of-river power plants
Name Country Capacity MW Annual production
(million kWh) 		Stake (%)
Ruppoldingen Switzerland 23 115 100%
Flumenthal Switzerland 23.7 146 62,1%
Gösgen Switzerland 51.3 300 100%
Ryburg-Schwörstadt Switzerland 120 705 13,5%
Martigny-Bourg Switzerland 22 89 18%

Gas-fired and combined cycle power plants

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Alpiq has stakes of up to 100% in gas-fired and combined cycle power plants in Italy, Spain, and Hungary:[32]

Gas-fired and combined cycle power plants
Name Country Capacity MW Annual production
(million kWh) 		Stake (%)
Csepel Hungary 403 500 100%
Novel Italy 100 602 51%
Plana del Vent Spain 846 662 50%
San Severo Italy 403 1421 100%
Vercelli Italy 40 100%

New renewable energies

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In addition to hydroelectric power plants, Alpiq also generates electricity through wind power, small hydroelectric power plants and solar energy. The following table provides an overview of the small hydroelectric power plants in which Alpiq has a stake or owns:[33]

Small-scale hydropower plants
Name Country Capacity MW Annual production
(million kWh) 		Stake (%)
Alagna Valsesia Switzerland 4.6 9 90%
Bätterkinden Switzerland 0.37 2.47 65%
Brüggmühle and Sittermühle Switzerland 0.283 1.22 100%
Buchholz Switzerland 0.14 0.53 23%
Cotlan Switzerland 2.6 12.5 60%
Büttenen 1&2 Switzerland 0.895 5.43 100%
Eisenhammer Switzerland 0.24 0.84 100%
Freienstein Switzerland 0.61 2.27 18%
Grüneta Switzerland 0.198 1.41 100%
Hagerhüsli Switzerland 0.5 2.85 65%
Hämmerli Switzerland 0.1 0.5 23%
Hüscherabach Switzerland 1.9 6.1 60%
Lavinuoz Switzerland 2.9 10.8 25%
Le Bayet France 2.5 6.2 100%
Model Switzerland 0.418 2.51 49%
Moos Switzerland 0.88 5.74 100%
Matzingen Switzerland 0.105 0.64 100%
Meyerhans Switzerland 0.42 2.45 49%
Murkart Switzerland 0.325 1.48 100%
Nenzlingen Switzerland 0.34 1.43 100%
Peist Switzerland 0.295 1.2 51%
Riein Switzerland 0.015 0.07 100%
Riva Valdobbia Italy 1.0 8.5 90%
Seon Switzerland 0.072 0.41 75%
Striempel Switzerland 0.014 0.046 100%
Tambobach Switzerland 1.835 7.85 70%
Tomils Switzerland 0.038 0.129 100%
Trans Switzerland 0.022 0.09 100%
Walzmühle Switzerland 0.062 0.37 100%
Widen Switzerland 0.77 4.4 49%

Solar power plants

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In 2022, Alpiq, together with the municipality of Gondo-Zwischbergen and Energie Electrique du Simplon, launched the Gondosolar project to install solar modules in Alpjerung near the municipality of Gondo.[34][24] Alpiq is also involved in other projects for the installation of high-alpine photovoltaic systems, such as the Prafleuri and Grimentz Solaire projects.[35][36] Alpiq operates several solar power plants in Switzerland, France, and Italy:[37]

Solar power plants
Name Country Capacity MW Annual production (million kWh) Stake (%)
Kestenholz Switzerland 1.183 1.13 100%
La Chaux Switzerland 0.564 0.6 100%
Ponthaux Switzerland 0.511 0.5 100%
Ruppoldingen France 0.111 0.1 100%
Società Agricola Solar Farm 2 Italy 5.190 7 100%
Società Agricola Solar Farm 4 Italy 8.408 13.5 100%

Wind power plants

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Alpiq is also involved in the development of new wind farms in Sweden. In December 2020, Alpiq and the Swiss company Future Generation Renewable Energy (Fu-Gen) concluded a co-ownership agreement for the Tormoseröd wind farm developed by Alpiq in south-west Sweden.[26] Alpiq operates wind farms in Italy, France, and Switzerland:[38]

Wind power plants
Name Country Capacity MW Annual production (million kWh) Stake (%)
Roca Rossa Italy 84 127 100%
Cers France 11.5 36 15%
Cattolica Eraclea Italy 40 56 100%
Roussas-Gravières France 10.5 21 100%
Le Peuchapatte Switzerland 6.9 13.5 100%
Ennese Italy 70.5 111 100%
Monte Mele Italy 9 12 100%

Environment and sustainability

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In 2018, Alpiq generated an average of 298 grams of CO2 equivalents and 19 cubic millimeters of nuclear waste per kilowatt-hour. Alpiq was the worst performer among the largest energy companies, with an average of 347 environmental impact points (EIP).[39] The sale of the last two coal-fired power plants in the Czech Republic in the same year reduced Alpiq's CO2 emissions scrap by 60%.[12]

During the construction of the Nant de Drance pumped storage power plant, a total of CHF 22 million were invested in ecological compensation measures, in cooperation with WWF and Pro Natura. The measures included, above all, the restoration of wetland biotopes to enable the recolonization of endangered or rare animal and plant species.[40]

Alpiq also operates a joint venture with the company Hydrospider, which uses an electrolysis plant at the Gösgen hydroelectric power plant to produce green hydrogen.[41]

Alpiq is also committed to environmental protection at the company's own power plants. In rivers downstream of hydroelectric power plants, there is often a lack of bed load, which is considered the habitat of many aquatic creatures. To counteract the bed load deficit in the Aare downstream of the Ruppoldingen hydroelectric power plant and protect the habitat, Alpiq poured a total of 6,000 cubic meters of gravel into the river in 2021.[30] The Ruppoldingen hydroelectric power plant is also naturemade star certified, the highest award for green electricity in Switzerland. For every kilowatt-hour sold from the power plant with proof of origin, money is paid into the Alpiq eco-fund. These funds are then used to support ecological upgrading and improvement measures. More than CHF 5 million have been invested in such measures, including revitalization measures on the Witibach in Grenchen and ecological upgrading on the Aare.[42]

Notes

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  1. ^ a b Cleuson-Dixence and Grande Dixence have a combined capacity of 2069 MW and a combined annual production of 2 TWh

References

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  1. ^ "Financial Review Alpiq Group - Annual Report 2023". Alpiq - Annual report 2023. Retrieved 2024-04-10.
  2. ^ "Alpiq - Annual Report 2023". Alpiq - Annual report 2023. Retrieved 2024-04-02.
  3. ^ Halter, Georg (2022-05-18). "Energieversorgungssicherheit – Strom-Rettungsschirm: nachvollziehbar – aber nicht ohne Risiko". Schweizer Radio und Fernsehen (SRF) (in German). Retrieved 2023-06-27.
  4. ^ Lavoyer, Sébastian (2023-02-04). "Im Hirn von Alpiq, wo Milliarden umgesetzt werden. Aargauer Zeitung (in German). Retrieved 2023-06-27.
  5. ^ "Rocada in topul comertului cu electricitate: Alpiq ia locul Alro". Financiarul. 2010. Archived from the original on 2011-07-20. Retrieved 2010-09-19.
  6. ^ a b Leu, Oliver (2017-08-28). "Alpiq gibt Verkauf von Wasserkraftwerken auf". Tages-Anzeiger (in German). Retrieved 2023-06-27.
  7. ^ a b "Alpiq schreibt Staudämme zum Verkauf aus". Handelszeitung (in Swiss High German). 2016-03-07. Retrieved 2023-06-27.
  8. ^ "Schweiz – Alpiq will dem Bund Atomkraftwerke für 1 Franken verkaufen". Schweizer Radio und Fernsehen (SRF) (in German). 2016-11-06. Retrieved 2023-06-27.
  9. ^ a b "Alpiq will AKW Leibstadt und Gösgen verschenken". Aargauer Zeitung (in German). 2016-11-07. Retrieved 2023-06-27.
  10. ^ Graf, Mario (2020-12-23). "Alpiq und Bouygues Construction erzielen Einigung". Energate Messenger. Retrieved 2023-06-27.
  11. ^ "Streit geklärt: Schweizer Alpiq einigt sich mit französischer Bouygues". Handelszeitung (in Swiss High German). 2020-12-23. Retrieved 2023-06-27.
  12. ^ a b c "Alpiq sells Czech power plants to Sev.en Energy for $313 million". Reuters. 2019-05-17. Retrieved 2023-06-27.
  13. ^ "Alpiq schliesst Verkauft tschechischer Kohlekraftwerke Kladno und Zlín ab". Cash (in Swiss High German). 2019-08-30. Retrieved 2023-06-27.
  14. ^ Millischer, Sven (2019-04-11). "Der Squeeze-out-Plan". Handelszeitung (in German). Retrieved 2023-06-27.
  15. ^ "Alpiq-Aktie verabschiedet sich von der Börse". Schweizer Radio und Fernsehen (SRF) (in German). 2019-12-16. Retrieved 2023-06-27.
  16. ^ "Alpiq Holding SA, Lausanne, Schweiz". Northdata (in German). Retrieved 2023-06-27.
  17. ^ Mathys, Urs (2019-07-16). "Neuer Aktionär setzt aufs Wasser". Aargauer Zeitung (in German). Retrieved 2023-10-23.
  18. ^ "Board of Directors - Annual Report 2022". Alpiq - Annual report 2022. Retrieved 2023-06-27.
  19. ^ "Executive Board - Annual Report 2022". Alpiq - Annual report 2022. Retrieved 2023-06-27.
  20. ^ "Financial Review Alpiq Group - Annual Report 2023". Alpiq - Annual report 2023. Retrieved 2024-04-10.
  21. ^ "Alpiq - Annual Report 2023". Alpiq - Annual report 2023. Retrieved 2024-04-10.
  22. ^ Lavoyer, Sébastian. (2019-08-27). "Verkauf von Kohlekraftwerken beschert Alpiq Millionen-Verlust". Aargauer Zeitung (in German). Retrieved 2023-10-23.
  23. ^ a b "Power plant profile: Alpine Solar PV Park-Alpiq, Switzerland". Power Technology. 2023-07-30. Retrieved 2023-10-23.
  24. ^ a b Eisenring, Christoph; Vonplon, David. (2022-11-23)."Die Bonanza um alpine Solaranlagen will keiner verpassen". Neue Zürcher Zeitung (in German). Retrieved 2023-06-27.
  25. ^ a b "Alpiq zieht zwei Grossaufträge aus Deutschland an Land". Aargauer Zeitung (in German). 2016-11-24. Retrieved 2023.06.27.
  26. ^ a b Graf, Mario (2020-12-23). "Alpiq verkauft Anteile von schwedischer Wind-Projektgesellschaft". Energate Messenger. Retrieved 2023-06-27.
  27. ^ a b "About us—Annual Report 2022". Alpiq - Annual report 2022. Retrieved 2023-06-27.
  28. ^ Mader, Brigitte (2022-11-11). "Chamoson-Chippis: Wichtiger Teil der Strom-Autobahn im Wallis in Betrieb". Energeia. Energiemagazin des Bundesamtes für Energie (in German). Retrieved 2023-06-27.
  29. ^ a b "Storage power plants". Alpiq. Retrieved 2023-06-28.
  30. ^ a b Huber, Urs (2021-09-24). "6000 Kubikmeter Kies landen in der Aare." Aargauer Zeitung (in German). Retrieved 2023-06-27.
  31. ^ "Run-of-river power plants". Alpiq. Retrieved 2023-06-28.
  32. ^ "Electricity supply from thermal power plants". Alpiq. Retrieved 2023-06-28.
  33. ^ "Small-scale hydropower plants". Alpiq. Retrieved 2023-06-28.
  34. ^ Müller, Adrian; Pressmann, Thomas (2022-10-21). "Solaranlagen in den Alpen - Photovoltaik-Boom im Wallis". Schweizer Radio und Fernsehen (SRF) (in German). Retrieved 2023-06-27.
  35. ^ "La commune valaisanne d'Anniviers présente son projet de parc solaire". Radio Télévision Suisse (in French). 2023-03-23. Retrieved 2023-06-27.
  36. ^ Rausis, Olivier (2023-01-16). "Leytron: un nouveau parc solaire de 160 000 m2 à l'étude sur les hauts d'Ovronnaz". Le Nouvelliste (in French). Retrieved 2023-06-27.
  37. ^ "Solar energy". Alpiq. Retrieved 2023-06-29.
  38. ^ "Wind power". Alpiq. Retrieved 2023-06-29.
  39. ^ Banholzer, Simon; Iten, Tonja (2019-07-17). "Kurzstudie: Strommix 2018" (PDF). Schweizerische Energiestiftung. Retrieved 2023-06-27.
  40. ^ "Wasserkraftwerk Nant de Drance investiert 22 Millionen in Umwelt". Nau (in German). 2021-05-26. Retrieved 2023-06-27.
  41. ^ Gilb, Christopher (2021-08-10). "Warum Energiefirmen tritz Potenzial mit Wasserstoffanlagen zögern". Luzerner Zeitung (in German). Retrieved 2023-05-27.
  42. ^ "220.000 Franken für mehr Natur an der Aare". Aargauer Zeitung (in German). 2021-01-15. Retrieved 2023-06-27.
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