Article Tools

Energie AG Plans Capital Increase

Published: February 7, 2011; 00:01 · (Vindobona)

The Upper-Austrian energy company is to raise funds in order to realize further investment projects.

Energie AG Plans Capital Increase / Picture: ©

In an interview with the Austrian magazine “Standard”, the CEO of the regional energy company Energie AG, Leo Windtner, intends to raise the company´s equity funds. The major shareholder is the province of Upper Austria. Windtner will hold a conversation with the Governor of Upper Austria, Josef Pühringer in April.

Windtner is confident that the capital increase will take place by the end of the year. The CEO estimates the volume to be up to € 200m. However, a capital increase would not be the only solution: bonds issued by Energie AG would be an appropriate alternative.

With these new funds, Windtner intends to further invest in new hydro power plants. Thus, the new capacities would be established three years earlier than planned. The company could take advantage of rising energy prices. The head of Energie AG believes that the other shareholders, such as the Tyrolean energy company TIWAG, will also approve a potential capital increase.

Energie AG, which is itself a shareholder of the regional energy company Salzburg AG, could sell the 25% stake in the medium term. At least, for Windtner the sale would be an option. Before a sale could be started, political talks will have to be take place, says Windtner. What also might happen is a new co-operation between regional energy companies. Several years ago, the plan of “Energie West”, a merger between Energie AG and TIWAG, failed.

Fast News Search