Mannheim, 16. March 2012. Mannheim-based energy company
making good progress in expanding renewable energies -
Green electricity generation volumes now theoretically
enough to supply all households in Mannheim, Offenbach and
Kiel
With its clear commitment to the energy turnaround, the
Mannheim-based energy company MVV Energie has successfully
laid foundations for converting the energy supply.
"Expanding renewable energies and enhancing energy
efficiency are at the core of our strategic alignment, and
that without any ifs and buts," stressed Dr. Georg
Müller, CEO of the SDAX-listed group of companies, at this
year's Annual General Meeting held in Mannheim's
Rosengarten Congress Center on Friday. The Group is making
good progress in implementing its ambitious investment
targets. Since this year, the MVV Energie Group is now for
the first time able to generate sufficient volumes of green
electricity to theoretically cover the consumption of all
private customers at its three largest locations -
Mannheim, Kiel and Offenbach. By 2020, the company intends
to invest a total of three billion euros in renewable
energies, efficient cogeneration, environmentally-friendly
district heating, energy efficiency and the generation of
energy from waste, as well as in maintaining and
modernising its existing plant and grids. Of this sum, a
combined total of Euro 700 million is due to be invested in
the current and next financial years alone. Comments Dr.
Müller: "We are thus acting as a market-driven pioneer
of the energy turnaround and are seizing the opportunities
this presents to generate profitable growth."
According to the CEO, the Group's results for the past
2010/11 financial year (1 October 2010 - 30 September 2011)
were satisfactory. The company thus managed to increase its
sales by 7 percent from Euro 3.4 billion to Euro 3.6
billion. At Euro 242 million, adjusted operating earnings
(adjusted EBIT) could be maintained at virtually the same
level as in the previous year. "This stable earnings
position in a difficult market climate is a particular
success and offers clear proof of our Group's
performance capacity", stressed Dr. Müller to almost
1,200 shareholders and guests at the Annual General
Meeting.
In view of this, the Supervisory and Executive Boards are
proposing an unchanged dividend of 90 cents per share to
the Annual General Meeting. The current dividend yield has
thus returned to around 3.5 percent.
In expanding its use of renewable energies, the
Mannheim-based energy company will be relying in future as
well on onshore wind power, as well as on biomass and
biogas. Now that state governments are creating a more
favourable investment climate by amending the legal
framework, MVV Energie still sees great potential for wind
power, particularly in Southern Germany.
MVV's CEO welcomed the launch of the market premium
model for marketing electricity from renewable energies,
introduced as of 1 January 2012, as a first major step
towards integrating renewable energies, with their
fluctuating generation volumes, in line with the needs of
the market. Commented Dr. Müller: "The market premium
model promotes their interaction with the market even
before they become competitive on the market." Not
only that, this model offered business opportunities for
innovative companies like MVV Energie and could lead to
efficiency gains in terms of market integration.
At the same time, Dr. Müller spoke out in favour of new
forms of participation, such as "people's wind
farms", within the future expansion in wind power.
"Participatory models increase people's acceptance
of a decentralised energy supply and thus meet a key
condition for putting the energy turnaround into
practice."
MVV Energie sees environmentally-friendly cogeneration as a
further focus of investment in coming years. According to
Dr. Müller, the discussions surrounding the future
structure of the energy supply were focusing too closely on
electricity and gas. "The heating energy supply
accounts for around 50 percent of energy consumption in
Germany." District heating and cogeneration could make
a major contribution towards reaching the ambitious heating
energy efficiency targets. That is why the Mannheim-based
energy company is calling within the legislative process
currently underway for improved subsidies for heat storage
facilities and for the retrofitting of conventional
cogeneration plants.
distributed by | This press release was issued by MVV Energie AG and was initially posted at http://www.mvv-energie.de. It was distributed, unedited and unaltered, by noodls on 2012-03-16 10:39:34 AM. The issuer is solely responsible for the accuracy of the information contained therein. |