Austrian Kelag invests mainly in hydropower, grid in H1 2013
Aug 28, 2013 - Austrian energy provider Kaerntner Elektrizitaets AG (Kelag) said on Tuesday its investments in the first half of the year were focused mainly on hyrdropower projects and grid infrastructure in the Austrian state of Carinthia.
Kelag's biggest project currently is the Reisseck II hydropower, in which the company is investing a total of EUR 191 million (USD 255.4m).
Reisseck II is a joint project between Kelag and Austrian utility Verbund (VIE:VER). From next year, the plant will have generation capacity of 181 MW, 137 MW pumping capacity and annual electricity output of 415 million kWh.
Kelag is currently constructing a run-of-the-river power facility, a biomass thermal plant and a district heating system in Carinthia. The company is also expanding on the south-eastern European market with two small hydro stations in Kosovo and two wind farms in Romania.
Kelag posted a first-half net profit of EUR 74 million, compared with EUR 78 million a year before.