Vienna-based Strabag, among the largest construction groupsin Europe, had planned to sink €100m into a factory at Cuxhaven, northernGermany, capable of turning out 80 gravity-based foundations per year. Inaddition, it planned to spend €200m on vessels capable of installing them atNorth Sea projects.
But those plans have been put on ice “until further notice”,with chief executive Hans Peter Haselsteiner citing a litany of reasons including the “uncertain future” of German energy policy; the lack oftransmission capacity capable of carrying power generated in the North Sea tosouthern German demand centres; and the lack of significant progress indeveloping electricity storage technologies.
Strabag’s
