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EnBW Intends to Expand Engagement in Austria

Published: January 21, 2011; 00:31 · (Vindobona)

The core shareholder of the Austrian company EVN plans further expansions abroad, especially in the "Alpine countries".

EnBW Intends to Expand Engagement in Austria / Picture: ©

In an interview with the German news agency dpa-AFX, the Chairman of the Board of the German energy group EnBW (Energie Baden-Württemberg), Hans-Peter Villis, said that the company intends to adhere to the strategy of foreign participations.

EnBW currently holds a 32.5% interest in the Lower Austrian EVN. The aim is to expand the engagement further, especially in Austria and Switzerland, as for example in the field of pumped storage power plants. EnBW also holds interests in the Czech Republic and Turkey.

As for the ownership situation within the group, there was a major revolution recently. The French state-owned EdF group announced in December that it would divest itself from its 45% share in favor of the Baden-Württemberg province. The share is valued at € 6.0bn.

The EnBW chairman’s position is neutral in face of this change. It should not matter who the exact shareholders are, as long as the ownership structure remains stable. Villis however expects simplification in the work with the municipalities, as the discussion on concession contracts will be easier. EnBW would lose its image as a nuclear power company, something forever in need of explanation.

About profits, Villis believes in a largely unchanged situation for the coming year despite the increased tax burden in Germany. New business opportunities in the field of renewable energies would offset the tax burden.

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