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CEFoF: A stimulus to growth for the central European market for risk capital and private equity For Löger, VERBUND has a key function in guaranteeing a secure power supply. VERBUND continues to base its strategy on digitalisation and innovation.

For the first time following the integration of VERBUND AG into the Federal Ministry of Finance (BMF), Finance Minister Hartwig Löger has paid a joint visit with VERBUND Management Board Chairman Wolfgang Anzengruber to the prestigious Limberg II power station in Kaprun.

Finance Minister Hartwig Löger said: “The integration of VERBUND into the BMF is a total success. VERBUND is Austria’s leading power company and therefore plays a strategically important role in the country’s economic landscape. This step represents a stronger financial focus and facilitates active participation management by the Finance Ministry. Integrated participation management of companies that are in competition with each other, and the joint use of the know how of Finance Ministry experts will strengthen Austria’s position as an economic centre.”

“Within the Government programme, we have committed ourselves to promoting the expansion of domestic hydroelectric plants and pumped-storage power plants, in accordance with Austrian, European and international climate and energy objectives. With around 2,800 employees and a total of 127 hydroelectric plants and 153 wind turbines, VERBUND produces an impressive 95 per cent from renewable energy, and will therefore continue to be indispensable in achieving these objectives for Austria,” said Löger during the visit.

“For the Federal Government, VERBUND’s sustainable focus on power from renewable sources is extremely important, because this represents a major contribution to Austria’s climate strategy. We are all aware of the value of water as a resource, and on the basis of considerations of sustainability and environmental protection we are committed to careful use of this resource. With the reappointment of Wolfgang Anzengruber as CEO, the Supervisory Board is underlining the principle of strategic continuity, which I whole-heartedly welcome as a basis for ensuring the stability of this listed company.”

“In Kaprun, the continually increasing importance of pumped storage can be clearly seen. Completed during the post-war period, Kaprun remains a central element of a clean, safe and affordable power supply, not least as a result of the capital investment in Limberg II,” said Wolfgang Anzengruber, CEO of VERBUND. “Pumped storage facilities such as we have at Kaprun are a guarantee that even power from volatile power generation forms such as sun and wind can be stored and made available when the need arises. Storage power plants and pumped storage are the most efficient industrial-scale form of storing power.”