- Business
- Verbund AG, along with its associated companies, is prominently engaged in the generation, trading, and distribution of electricity to energy exchanges, various traders, public utilities, industrial enterprises, and residential and business clients across Austria and other international markets. The company's operations are structured across distinct segments including Hydro, New Renewables, Sales, Grid, and All Other activities. As a leading European producer of hydropower, Verbund manages approximately 8.4 gigawatts (GW) of installed hydro capacity, primarily located in Austria and Southern Germany. Complementing its substantial hydropower assets, the company actively develops and operates wind farms and solar photovoltaic plants, with a strategic goal to achieve approximately 25% of its total generation from these sources by 2030, alongside operating thermal power facilities. Verbund additionally oversees Austria's critical electricity transmission network through its subsidiary Austrian Power Grid AG, ensuring national and international energy exchange. The company further expanded its scope in 2021 by acquiring a 51% stake in Gas Connect Austria, participating in gas transmission, distribution, trading, and sales. Beyond core energy supply, Verbund delivers a range of energy-related services, encompassing solutions for e-mobility, photovoltaic systems, and battery storage. Demonstrating a clear commitment to sustainable energy, Verbund is focused on decarbonization and green hydrogen initiatives, aiming for climate neutrality by 2040 and net-zero greenhouse gas emissions by 2050. The company was established in 1947 and maintains its headquarters in Vienna, Austria.