Securing the energy future: Strugl calls for massive network expansion for Austria!

Securing the energy future: Strugl calls for massive network expansion for Austria!

The Austrian energy supplier Verbund is planning a massive expansion of electricity generation and the associated infrastructure in order to cover increasing electricity demand by 2040. Verbund boss Michael Strugl announced that energy consumption could rise to 135 to 140 terawatt hours by then, which corresponds to doubling current consumption. In order to achieve this goal, a huge expansion of networks and storage is required, as Strugl emphasized during a lecture to business journalists. There is currently talk of an enormous investment requirement of 9.1 billion euros by 2034 in order to create the necessary 900 kilometers of new lines and substations, as stated by the The press reported.

Big plans for the future

Individual hydropower projects are already in the pipeline, including the expansion of the Reißeck storage group and the Limberg 3 power plant, which are scheduled to be completed by 2025. Strugl promised that the association will invest up to 15 billion euros in networks, generation and storage. The majority of these financial resources could be generated from cash flow, which is made possible by positive operating results. The association plans to invest around 4.6 billion euros in these projects over the next three years, including 1.7 billion euros for network infrastructure, according to Vienna.at is reported.

In addition, Strugl emphasized the need for strong political cooperation and adjustments in legislation in order to achieve the ambitious goals of the energy transition. He spoke out in favor of a “red-white-red effort”. The implementation of suitable framework conditions for the expansion of renewable energies as well as the acceleration of approval procedures for wind and solar systems are crucial to achieving Austria's ambitious climate goals.