The latest utilities industry and company news and analysis from FriedlNews
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Austrian Utilities Industry Headlines

Verbund Raises Profit Outlook to EUR 240 Million

Listed energy provider Verbund has increased its profit outlook for this business year. Instead of EUR 180 million (USD 198.8 million) the group expects to generate EUR 240 million, it was announced. In 2014 the company earned EUR 126 million.

July 9, 2015

Verbund Power Buys 50 Pct in Photovoltaics Firm Solavolta

Listed power group Verbund bought 50 percent in photovoltaic facilities builder Solavolta, Verbund said without disclosing the price.

July 8, 2015

Austria to Spend EUR 5.6 Bln on Power Infrastructure by 2020

Austria has another EUR 5.6 billion (USD 6.2 billion) electricity infrastructure modernisation and development projects in the pipeline by 2020, energy market regulator E-Control head Martin Graf said.

June 29, 2015

EVN Power Set to Expand Environmental Operations in SEE

Listed Austrian utility EVN plans to further expand its environmental activities in SEE and is competing in tenders in Croatia and Serbia, according to EVN representatives.

June 19, 2015

Strabag Builds EUR 37 Million Power Plant in Switzerland

Strabag AG is building the Rhone Oberwald run-of-the-river hydroelectric plant in the Swiss canton of Valais. The contract value of € 37 million comprises the construction of the necessary tunnels, galleries and underground chambers.

June 5, 2015

Wien Energie Facing EUR 22 Mln Fine over Energy Efficiency

Wien Energie utility is facing a EUR 22 million (USD 24.6 million) fine over a failure to meet the requirements of the Austrian energy efficiency act.

May 19, 2015

EVN Posted Loss in Bulgaria in 2014 for the First Time

Last year the Bulgarian arm of Austria’s energy supplier EVN posted a loss of BGN 98.2 million (EUR 50.2 million) for the first time in ten years, Bulgarian business newspaper Kapital reports. In 2013 EVN Bulgaria posted a profit of BGN 56.2 million.

May 14, 2015

Verbund Raises Earnings Forecast and Dividend for 2014

Verbund AG announced today that the earnings forecast for financial year 2014 is being raised. Verbund expects EBITDA of around €800m (previous forecast: €770m) and a Group result of around €125m (previous forecast: €85m) in financial year 2014. The planned dividend continues to be based on a payout ratio of approximately 50% of the adjusted group result which in 2014 will be around €210m (previous forecast: €190m).

January 22, 2015

Verbund Withdraws from Bulgaria

Verbund withdraws from Bulgaria by selling its 16 MW wind farm on the Bulgarian Black Sea coast to Inwind Sp Ltd, a project company of Bulgarian Inovent Holding AD. The transaction is scheduled to close by the end of 2014. Both companies agreed on not disclosing any financial details of the transaction.

October 30, 2014

Fischer: Room for Further Trade with Albania

Austrian President Heinz Fischer was paying a visit to Western Balkan States.

May 22, 2014