Think GeoEnergy
Summary
The city utility of Austria’s capital of Vienna, Wien Energie, announced that it will invest EUR 1 billion in the gas phase-out over the next five years. With massive investments in geothermal energy, large heat pumps and the expansion of photovoltaics and wind power, Austria’s largest energy service provider wants to gradually end its dependence on fossil fuels. “Only investments will get us out of the crisis. Wien Energie will spend EUR 1 billion for the gas phase-out in the coming years. We are completely restructuring the Vienna energy system: every euro we put our hands on today brings the people of Vienna Viennese long-term independence, climate protection and price stability,” says Michael Strebl, Chairman of the Wien Energie Management Board, on the occasion of the 2021 annual balance sheet.
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