AUSTRIA/GERMANY: EUROPEAN HYDRO POWER BY E.ON, VERBUND

Article Abstract:

Verbund and German energy group E.On have concluded an agreement in principle to combine their hydro power operations with effect from the beginning of 2001. The joint venture to be formed, European Hydro Power, will be Europe's second-largest hydro power producer after Electricite de France (EdF). It will be based in Salzburg, Austria. Verbund is likely to hold no less than 60% of the stock. Verbund, in which the Austrian state holds a 51% stake, expects the alliance to yield savings of EUR 25mn per year. The company expects a 15% increase in turnover and a 25% rise in operating profits. Verbund's choice of the partner is criticised by some for the fact that E.On is among the leading nuclear power producers in Europe.

Foreign operations, Germany, Joint ventures

---

AUSTRIA: POSITIVE OUTLOOK FOR HYDRO POWER PLANTS

Article Abstract:

Hanns Kottulinsky, president of the association for the promotion of small hydro power stations in Austria, sees good chances for such power stations. The optimism is based primarily on the decision by the government according to which small hydro power stations have to cover no less than 8% of the country's electricity consumption. The small power stations already produce almost 4,200 GWh, while the country's overall electricity consumption amounts to more than 50bn kWh. The higher price paid for hydro power is financed by an electricity levy. If consumers are charged Sch 0.02-0.03 per kWh, this raises up to Sch 1.5bn for hydro power generation by small power plants and provides funding for investments. Kottulinsky estimates that if the turbines were modernised in all of the country's small hydro power stations, their combined capacity could be increased by 25%.

Taxes

---

AUSTRIA: MORE HYDRO POWER PARTNERS

Article Abstract:

Draukraft has joined Tauernkraft , Verbundkraft and Verbund-Elektrizitatserzeugung as a partner of the joint-stock company Austrian Hydro Power AG (AHP). Karntner Elektrizitats AG (Kelag), which owns 49% of Draukraft, gets a 10% stake in AHP.

Acquisitions & mergers, Karntner Elektrizitats-AG, Osterreichische Draukraftwerke AG, Tauernkraftwerke AG

Similar abstracts:

• Abstracts: AUSTRIA: FOREIGN PARTNER FOR WIENER STADTISCHE. AUSTRIA: WIENER STADTISCHE IN SEARCH FOR PARTNER. AUSTRIA: WIENER STADTISCHE EYEING ERGO
• Abstracts: AUSTRIA: DUROPACK'S AMBITIONS. AUSTRIA: TRENDS IN DRINKING MILK MARKET
• Abstracts: AUSTRIA: VA TECH TO GIVE UP WATER TECHNOLOGY. AUSTRIA: LESS PUBLIC MONEY FOR SEWERAGE. VIETNAM: AUSTRIANS IN HANOI SEWERAGE PROJECT
• Abstracts: AUSTRIA: GERMANS EYEING ENERGIE AG. AUSTRIA: ESTAG EYEING EAG
• Abstracts: AUSTRIA: FEUD OVER BBAG CONTROL. AUSTRIA: OETKER REJECTS BINDING-BBAG MERGER. AUSTRIA: BATTLE ON BBAG CONTROL ENDED

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.