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STRABAG SE postpones investments in Offshore Wind
Investments of several hundred million euros shelved
Uncertain legal situation in German offshore wind sector  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.
STRABAG SE is one of Europe’s leading construction groups. With 76,900 employees, STRABAG generated a construction output volume of € 14.3 billion in the 2011 financial year. From its core markets of Austria and Germany, STRABAG is present via its numerous subsidiaries in all countries of Eastern and South-East Europe, in selected markets in Western Europe and on the Arabian Peninsula. STRABAG’s activities span the entire range of construction services (Building Construction & Civil Engineering, Transportation Infrastructures, Special Ground Engineering and Tunnelling) and cover the entire value chain in the field of construction. More information is available at
www.strabag.com .
Source: Diana Neumüller-Klein CFA, Strabag SE,
2013-01-15
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