"With investments totalling 6.7 billion Euro until 2015, VERBUND is steadily expanding its position as leading producer of clean electricity," General Director Dr. Michael Pistauer, Chairman of the Managing Board of VERBUND, depicts the future strategy of the company, which was decided upon in unison yesterday at the Supervisory Board meeting.
One major stronghold in the future corporate development is the establishment of VERBUND International, in which the successful foreign projects of Austria's leading electricity company will be concentrated. VERBUND International will be a 100 % subsidiary of VERBUND.
Concentration of foreign projects: VERBUND International
The foreign participating interests of VERBUND in Italy, France and Turkey will be integrated into VERBUND International, which will be newly established. With that, not only will the added value of the interests be guaranteed, but it will also help create the financial flexibility needed to make optimum use of growth opportunities.
Next to the expansion of the existing promising foreign participating interests, the focus will be, amongst other things, on the large growth market of the CEE/SEE region, in which new projects are to be implemented.
In the years to come, VERBUND's investments will be structured as follows: 2.8 billion Euro will definitely be invested in Austria; 1.6 billion Euro will flow into the existing foreign interests (Italy, France, Turkey); 2 billion Euro will be invested into the CEE/SEE area and 0.3 billion Euro into the Renewables.
"All in all, VERBUND will have invested 6.7 billion Euro by 2015, in the course of which new generation capacities of a magnitude of 15,000 MW will be created, of which 8,000 MW can be attributed to VERBUND directly. This corresponds to double the amount of VERBUND's current domestic production capacities. 40 % of the investments are accounted for by Austria alone," Pistauer concluded.