EC clears Verbund and Siemens joint venture
The European Commission has cleared Verbund and Siemens to run a joint venture providing e-mobility infrastructure in Austria.
A planned joint venture between Siemens and Austrian electricity provider Verbund has been given the go-ahead by the European Commission (EC).
The EC has raised concerns that the move - which will result in the two firms providing e-mobility services across Austria - may breach competition rules, but found there two parties' activities do not overlap.
In a statement, the commission said it is "satisfied that the technology used by the joint venture, economic incentives, and regulatory oversight will lead to effective competition based on an open standard for e-mobility services in Austria".
Details of the joint venture, which is likely to have been agreed following business negotiation between Siemens and Verbund, have not been revealed, but the services provided will include charging infrastructure for electric vehicles and a supply of energy from renewable sources.
Verbund also operates in other countries across Europe and last month acquired five wind farms in Germany from renewable energy project developer juwi.
The farms have the potential to power approximately 70,000 households with clean energy.
Posted by Ken Hayes
Source: European Commission press release, September 20th.