EQS-News: VERBUND AG: VERBUND AG enters Italian market after signing a cooperation agreement with the PV-Invest Group and acquiring a photovoltaic project portfolio of up to 250 MWp in Apulia
EQS-News: VERBUND AG / Key word(s): Alliance/Strategic Company Decision
VERBUND AG: VERBUND AG enters Italian market after signing a cooperation
agreement with the PV-Invest Group and acquiring a photovoltaic project
portfolio of up to 250 MWp in Apulia
13.12.2022 / 15:37 CET/CEST
The issuer is solely responsible for the content of this announcement.
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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 Wollein
Head of Group Finance and Investor Relations
T.: +43 (0)5 03 13 – 52604
F.: +43 (0)5 03 13 – 52694
investor-relations@verbund.com
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13.12.2022 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
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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
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