verbund pledges large investment in future of energy
VERBUND recently announced its decision to invest more than half a billion euros in the construction of Austrian pumped-storage projects Limberg III (in Kaprun in the province of Salzburg) and Reißeck II+ (in Carinthia).
These are landmark projects in terms of energy efficiency and sustainable power supply, and they will also provide a significant boost to Austria’s national economy. As VERBUND’s CEO, Michael Strugl, comments, “Having large, flexible pumped-storage power plants available is essential if we are going to achieve the envisioned energy turnaround on the path to a CO2-free energy supply. It’s facilities like these that make the integration of energy from volatile sources like wind and sunlight possible in the first place. By reinforcing our existing green batteries in the Alps we at VERBUND are doing our bit to make that possible.” Two-thirds of the energy industry’s investment volume will remain in Austria to create added value.