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VERBUND AG: announcement of a cooperation with Visiolar GmbH to develop photovoltaic projects in Germany with a capacity of up to 2,000 MW

·2-min read

DGAP-News: VERBUND AG / Key word(s): Alliance
27.04.2021 / 11:39
The issuer is solely responsible for the content of this announcement.

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.

For additional information please contact
Mag. Andreas Wollein
Head of Group Finance and Investor Relations
Tel.: +43 (0)50 313-52604
Fax: +43 (0)50 313-52694
investor-relations@verbund.com


27.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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:

Foreign Exchange(s) Vienna Stock Exchange (Official Market)

EQS News ID:

1188467


 

End of News

DGAP News Service

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