Abaxx Technologies, a start-up financial software and market infrastructure company, has announced that Abaxx Exchange has expanded its suite of weather derivatives that it offers from wind to solar power, with German solar futures now available for trading.
Now, Abaxx Exchange has expanded its weather-indexed product suite with the launch of Enwex Germany Solar (GSM) futures, which according to the announcement have been available for trading since April 23rd, 2026.
This marks an interesting development, as the for the first time in 2025 solar power has reportedly produced more electricity in Germany than lignite, becoming the second-largest source in the country’s net public electricity generation.
As fluctuations in irradiance caused by weather increasingly impact realised output and portfolio risk for solar-heavy books, Enwex Germany Solar futures are structured to offer an exchange-cleared benchmark for mitigating discrepancies from anticipated generation and minimising solar-specific basis risk.
It’s important to note that traditionally, weather derivatives have focused on temperature, wind, and precipitation, but it also appears that solar irradiance has clearly begun to emerge as a core risk factor going forward.
In addition, Abaxx confirmed that Enwex Germany Solar (GSM) futures will be euro-denominated, financially settled and indexed to Enwex Solar Germany, a forecast-based index of total incoming solar radiation translated into standardised generation utilisation rates, expressed in €/MWh.
Joe Raia, Chief Commercial Officer of Abaxx Exchange, commented: “Solar exposure has traditionally been managed through a mix of bilateral weather trades and broader power positions. This contract brings solar utilization into a centralized, exchange-cleared market, giving market participants a forward curve to trade and improving arbitrage and cross-hedging opportunities, while also giving lenders greater confidence in the stability of generation-linked revenues as Germany continues to scale solar capacity.”
Robin Girmes, Founder and CEO of Energy Weather and Enwex, said: “Germany’s rapid solar build-out makes it a natural setting for our first dedicated photovoltaic benchmark. Our indices translate meteorological variables into standardized utilization metrics, and listing the Germany Solar Index with Abaxx brings that framework into a regulated futures market built for renewable-generation risk.”
Max Amir Dieringer, CEO of Citadel FlexPower, a leading European power trader, added: “Volumetric solar risk is becoming increasingly relevant in the European and especially German market. As we originate an ever- increasing number of tolling structures for co-located solar and battery storage assets, managing our solar production risk effectively has become inevitable. FlexPower welcomes the creation of a lit and tradeable market for volumetric solar risk.”
