Austria's Oekostrom nets EUR 12.6m to boost PV, wind portfolio
Image by Thomas Kirschner. All Rights Reserved. Source: https://oekostrom.at/
Austrian power producer Oekostrom AG has raised EUR 12.6 million (USD 13.17m) in a share issue to finance the expansion of its portfolio of wind and photovoltaic (PV) plants in the home market and abroad to 100 MW.
The capital increase was completed ahead of schedule after existing shareholders subscribed to around three-quarters of the available shares while another EUR 3.6 million was raised by new investors within just ten days via crowd investing platform Conda.
With nearly 1,000 new investors on board after the capital increase, the transaction shows that more and more people want to take part in the energy transition and Oekostrom gives them the opportunity to invest in an ecologically sensible and economically attractive manner, said Oekostrom's executives Ulrich Streibl and Hildegard Aichberger.
The Vienna-based independent power producer currently has 60 MW of solar and wind plants in its portfolio and plans to add 40 MW of capacity with the fresh capital. The company also procures electricity from solar, wind, biogas and hydropower plants across Austria.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.