Hydro Power: Investments of € 16bn Planned
The Austrian energy Industry Calls for the construction of more hydro power plants. The renewable energy production should be enlarged considerably.
The Austrian energy industry underlines the necessity of the enlargement of hydro power. In spite of more energy-saving appliances, the energy consumption rises in Austria. In order to meet the increasing demand, the Austrian energy industry calls for an increase in production capacities.
Because of high volatilities in the wind and solar power production, hydro power is seen as only stable energy source. The Austrian energy association (Oesterreichs Energie) refers to the rising greenhouse gas emissions and the energy targets of the Austrian government. At the moment, the share of renewable energy in the energy production is 30%. By 2020, the share should increase up to 34%.
As a result, investments of € 16bn are planned within the next eight years. € 8.0bn are dedicated to the enlargement and modernization of the Austrian power grid, further € 8.0bn should be invested in new power plants. At the moment, ten hydro power plants are being built, 43 further projects are planned. Nevertheless, thermal power plants should be kept as back-up capacity, the energy industry argues.