first_imgAustrian utility Verbund plans expansion into European wind, solar markets FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Austrian utility Verbund AG, which produces the majority of its power from hydro plants, is planning a major push into wind and solar power generation over the next decade, executives outlined on the company’s first-quarter earnings call on May 13.Verbund has introduced a target to generate 25% of its power from wind and solar by 2030, CFO Peter Kollmann said. Limited further upside in the hydro segment is driving the utility to diversify its renewables portfolio, with most of the suitable locations in Austria either already in use or under national conservation protections.Verbund also sees potential in the continued cost efficiency gains in the wind and solar sector, and a ballpark target of 25% of power generation would allow it to achieve a critical mass, he said.The utility currently operates a small wind portfolio in its core markets in Austria and Germany, as well as in Romania. For its growth ambitions, it is looking at the Spanish and Italian solar markets, and for new opportunities in France, Germany and home market Austria.“We have a big radar screen,” Kollmann said, but the focus is largely on Central and Western Europe and geographies with clear regulatory frameworks.[Camilla Naschert]More ($): Hydro-heavy Verbund eyes European wind, solar expansionlast_img

Austrian utility Verbund plans expansion into European wind, solar markets

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