Verbund sells hydropower plant shares in Austria’s Tyrol region

Austrian utility Verbund AG has agreed to sell a 40% share of its ownership in a collection of hydropower plants in the Tyrol region to generation and distribution company Tiroler Wasserkraft AG.

Located in the western Austrian state of Tyrol, the 11 conventional and pumped-storage hydroelectric projects affected by the sale have a cumulative output capacity of 1,352 MW, with the most notable being the 360-MW Hausling, 355-MW Mayrhofen, 231-MW Rosshag and 200-MW Gerlos plants.

The transaction reduces Verbund‘s stake in the Tyrol plants from 50% to 10%, while increasing TIWAG’s interest to 76%. Switzerland’s Engadiner Kraftwerke AG holds the remaining 14%.

Financial terms of the deal were not disclosed, but Verbund reportedly has an option to increase its share in the Tyrol plants to 25% by 2018.

For more news from Europe, visit here.

Previous articleMarine Hydrokinetics
Next articleEarthquake in Malaysia near 165-MW Sultan Mahmud hydroelectric facility
Michael Harris formerly was Editor for HydroWorld.com.

No posts to display