Growth programme at MVV Energie gains great momentum
MVV Energie AG (WKN: A0H52F, ISIN: DE000A0H52F5) intends to invest three billion euros by 2020 in expanding renewable energies, energy efficiency, cogeneration, environmentally-friendly district heating and in upkeeping and maintaining its existing plants and grids. Three years after announcing this long-term, sustainable growth programme, the Group has already implemented or issued binding commitments for around Euro 1.9 billion, and thus almost two thirds of the planned investment total. At this year's Annual Results Press Conference in Frankfurt on Tuesday, Dr. Georg Müller, CEO of the publicly listed Mannheim-based energy company, stressed that 'we have thus gained great momentum and consistently set course for the conversion of the energy system along ecological lines.'
The largest individual investments at the group of companies include the wind farm in Kirchberg, the largest in south-western Germany, where operations began in spring 2012, at around Euro 84 million, the construction of a new waste-fired cogeneration plant in Plymouth/UK, due to go online in 2014, at just under Euro 250 million, and Block 9, currently under construction at the large power plant in Mannheim (GKM), of which in line with the respective level of shareholding around Euro 400 million is allocable to MVV Energie. Comments Dr. Müller: 'By making these investments, we are seizing the opportunities arising due to the paradigm shift in the energy industry and maintaining a high pace of investment at our Group.'
Just last week, for example, the company announced the acquisition of seven wind farms with a total capacity of 62.9 megawatts in the states of Nordrhein-Westfalen, Rheinland-Pfalz, Hessen, Thüringen and Sachsen-Anhalt from the Spanish energy group Iberdrola, thus virtually doubling its onshore wind power electricity generation capacity. Not only that, MVV Energie has in recent days received the building permit for its second biomethane plant in Kroppenstedt (Sachsen-Anhalt) and will now start construction work on the plant. Germany's highest-capacity district heating storage facility is already being built on the site of the large power plant in Mannheim (GKM). With a total volume of Euro 27 million, this investment will enable MVV Energie not only to further boost the district heating supply in the Rhine/Neckar metropolitan region but also to enhance the power plant¿s flexibility.
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