Austria Accelerates Renewable Energy Transition with 143 MW Wind Farm

Strategic Insights -

Austria is committed to generating its entire electricity supply using renewable energies by 2030, and a recent investment in a 143 MW wind farm in the state of Burgenland is a significant step towards achieving this goal. The European Investment Bank (EIB) and UniCredit Bank Austria are providing a total funding of €107.4 million, with the EIB's share backed by a guarantee from the European Fund for Strategic Investments (EFSI). This investment is expected to provide clean energy to around 90,000 households and is part of the country's efforts to reduce its carbon footprint.

Key Takeaways:

  • The 143 MW wind farm, located in the state of Burgenland, will provide electricity to around 90,000 households and is expected to reach completion by the end of 2021.
  • The European Investment Bank (EIB) and UniCredit Bank Austria are providing a total funding of €107.4 million, with the EIB's share backed by a guarantee from the European Fund for Strategic Investments (EFSI).
  • Austria aims to produce its entire electricity supply using renewable energies by 2030 and has already taken major steps in the form of wind farm repowering projects.
  • The P&SP&A-K Group, a family business based in Burgenland, has been developing and operating wind farms in Austria since the late 1990s and supplies around 260,000 Austrian households with clean energy.
  • The wind farm will be one of the largest in Austria, with 26 turbines, and is expected to triple the energy produced over the same surface area compared to traditional wind farms.
  • The investment is part of the European Union's commitment to supporting renewable energy in Austria and helping the country meet its decarbonisation targets.

Statistics:

  • The 143 MW wind farm will provide electricity to around 90,000 households.
  • The EIB is providing a direct loan of €71.6 million and an intermediated loan to UniCredit Bank Austria of €35.8 million.
  • The EIB has reached and exceeded its target of catalysing additional investments of €500 billion by the end of 2020, mobilising around €524 billion in investment and benefiting around 1.4 million small and medium-sized enterprises throughout the European Union.
  • The wind farm will triple the energy produced over the same surface area compared to traditional wind farms, and the P&SP&A-K Group already supplies around 260,000 Austrian households with clean energy.

Sources:

  • European Investment Bank (EIB)
  • UniCredit Bank Austria
  • European Union (EU)
  • European Fund for Strategic Investments (EFSI)
  • P&SP&A-K Group
  • European Commission
  • Paolo Gentiloni, European Commissioner for the Economy
  • Andrew McDowell, EIB Vice-President responsible for operations in Austria
  • Susanne Wendler, board member of UniCredit Bank Austria's "Unternehmerbank"
  • Lukas Puspok, managing partner of P&SP&A-K Group