Austria: STRABAG Postpones Investment Plans in Offshore Wind

The publicly listed European construction group STRABAG SE postpones its planned investments in the field of gravity-based foundations technology for offshore wind until further notice.

The company had planned to spend several hundred million euros over the next few years on the construction of a factory and of special ships to transport self-developed concrete gravity foundations for offshore wind plants.

 Hans Peter Haselsteiner, CEO of STRABAG SE, explains: “Despite our progress in gravity foundations technology, we have decided to not invest in the construction of plants and special ships for offshore wind for the time being. There are too many reasons against it at this time – from the uncertain legal situation and uncertain future of energy policy on the German market to the lacking storage technology for electricity from renewable sources and the lacking transport possibilities for getting the electricity from the producer to the consumer.”

STRABAG’s 51 % stake in 15 project companies to develop offshore wind farms remains unaffected by the decision. In May 2011, STRABAG had stated its intention of developing, building and operating wind farms.

[mappress]

Press release, January 15, 2013; Image: alpha ventus