The European Commission said on June 11 that it is supporting renewable energy expansion in Austria via European Investment Bank loans.
According to the Commission, the EIB is lending Energiepark Bruck/Leitha a total of €19.3 million to carry out two new wind farm projects with a joint capacity of 17 MW. Erste Bank is also participating in the €27.3 million financing plan.
The European Fund for Strategic Investments, the heart of the Investment Plan for Europe, is guaranteeing the EIB financing, the Commission said.
Commission Vice-President for Jobs, Growth, Investment and Competitiveness Jyrki Katainen noted that the EU is committed to supporting the clean energy transition in Europe. “Financing for wind farms is a long-term transaction and high risk by nature, which is where the European Fund for Strategic Investments is essential in providing the EU budget guarantee. It is very positive that the project is co-financed by the private sector in the form of Erste Bank,” he said.