EQS-News: VERBUND AG
/ Key word(s): Alliance/Strategic Company Decision
Following the successful entry into the Spanish market, VERBUND AG’s Executive Board is hereby announcing the company’s market entry into the Italian market. The basis for this is provided by a cooperation agreement with the PV-Invest Group for the acquisition of a project development company including development of a photovoltaic (PV) project portfolio of up to 250 MWp. As yet, the acquisition of the project is not contractually linked to an investment decision, which will only be made when the projects are ready to build and is contingent on VERBUND’s (profitability) criteria continuing to be met. The project portfolio consists of a pipeline of up to 45 greenfield solar PV installations in the region of Apulia in southern Italy. Part of the pipeline comprises Agri-PV projects that will allow for even more sustainable energy generation. The project portfolio is still in the approval phase. All of the projects have a capacity of less than 10 MWp. The projects from the portfolio will gradually achieve ready-to-build status starting in quarter 3/2023 up to mid-2024, with the majority coming on stream by the end of 2024. By implementing its Mission V programme, VERBUND is striving for significant growth in the field of new renewables. The company’s plan is to produce approximately 20–25% of its electricity from photovoltaic sources and (onshore) wind power plants by 2030 which corresponds to an installed capacity of 3,800 MW. VERBUND’s objective is to spread its risk through regional differentiation. Contact: Andreas WolleinHead of Group Finance and Investor Relations T.: +43 (0)5 03 13 - 52604 F.: +43 (0)5 03 13 - 52694 mailto:investor-relations@verbund.com
13.12.2022 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com |
Language: | English |
Company: | VERBUND AG |
Am Hof 6A | |
1010 Wien | |
Austria | |
Phone: | 0043-1-53113-52604 |
Fax: | 0043-1-53113-52694 |
E-mail: | investor-relations@verbund.com |
Internet: | www.verbund.com |
ISIN: | AT0000746409 |
WKN: | 877738 |
Indices: | ATX |
Listed: | Vienna Stock Exchange (Official Market) |
EQS News ID: | 1512079 |
End of News | EQS News Service |
|
1512079 13.12.2022 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.