Austrian wind power company invests 500 million euros
EISENSTADT, AUSTRIA - Austrian Wind Power GmbH recently announced plans to invest more than 500 million euros US $659 million within the next five years in new windfarms in the county of Burgenland.
Austrian Wind Power is a subsidiary of Burgenlaendische ElektrizitaetswirtschaftAktiengesellschaft Bewag.
The first four projects will be built on the Parndorf Plain in the northern part of Burgenland. The almost treeless plain is a very convenient site for windfarms. Austrian Wind Power GmbH plans to install 45 wind turbines around the city of Andau, 62 turbines in Halbturn, 42 in Moenchhof, and 21 in Nickelsdorf. Each turbine will have an energy output of 2 megawatts MW. At the moment, the company is applying for permission to construction the windfarm. Construction will start in September 2011, with completion set for 2013. General contractors will be called for proposals in April 2011.
According to the Wind Barriers study carried out by the European Wind Energy Association, Austria is one of the fastest countries in Europe to complete the planning process for windfarms. Permitting for a windfarm takes about 10 months to complete. Only Finland, where planning takes about eight months, is faster. Portugal, at 58 months, takes the longest. One of the primary reasons for delay is the large amount of public authorities involved. In Greece, for example, a developer has to contact 41 authorities to obtain permits for an onshore windfarm.
With 138 wind turbines in 10 windfarms, Austrian Wind Power is one of the largest green electricity producers in Austria. The Austrian Wind Power windfarms have a total rated power of 241 MW and produce more than 500 million kWh of electricity each year. In Burgenland, energy produced from wind power covers about twothirds of the entire provincial electricity consumption.
Related News
DBRS Confirms Ontario Power Generation Inc. at A (low)/R-1 (low), Stable Trends
TORONTO - DBRS Limited (DBRS) confirmed the Issuer Rating and the Unsecured Debt rating of Ontario Power Generation Inc. (OPG or the Company) at A (low) and the Commercial Paper (CP) rating at R-1 (low).
All trends are Stable. The ratings of OPG continue to be supported by (1) the reasonable regulatory regime in place for the Company's regulated generation facilities, (2) strong cash flow-to-debt and debt-to-capital ratios and (3) continuing financial support from its shareholder, the Province of Ontario (the Province; rated AA (low) with a Stable trend by DBRS). The Province, through its agent, the Ontario Electricity Financial Corporation…