Corporate news: Announcement of a cooperation with Visiolar GmbH to develop photovoltaic projects in Germany with a capacity of up to 2,000 MW

4/27/2021Vienna

The management of VERBUND AG hereby announces the start of a cooperation between VERBUND AG and Visiolar GmbH. Potsdam-based Visiolar is part of the Lindhorst Group, a group of companies of many years’ standing with experience in the agricultural sector, which operates in the German state of Lower Saxony. With its extensive properties available for renewable energy projects, Visiolar provides an extremely reliable basis on which to establish and develop these joint activities.

The cooperation partners intend to use up to 2,000 hectares of Visiolar’s land to generate electrical energy from renewable sources, in particular solar power. To date 13 plots with a total area of around 1,400 hectares (representing a maximum installed capacity of around 1,400 MWp) have been identified and defined. It is envisaged that the projects will be progressively developed, constructed and put into operation in the coming years. This will allow a significant contribution to be made to climate protection and reaching Europe’s greenhouse gas reduction targets. The stated goal is to produce energy in a sustainable and carbon-neutral manner and make it available to cities and communities in an attractive way.

VERBUND’s 2030 strategy is to significantly expand its activity in the field of solar and wind power so that photovoltaic systems and onshore wind farms account for around 20–25% of overall electricity generation by 2030. This cooperation is an important step towards achieving this goal. The implementation of these projects will also establish VERBUND as a major player in the field of solar power in its core market Germany.

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Andreas Wollein Andreas Wollein

Head of Group Finance and Investor Relations

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