The European Investment Bank (EIB) and UniCredit Austria are investing €107.4 million to support the financing of one of Austria’s largest wind farms, the European Commission said on August 31, adding that the entire wind farm will have a capacity of 143 MW and provide around 90,000 households with electricity produced from renewable sources. The project is expected to reach completion at the end of 2021.

EU Economy Commissioner Paolo Gentiloni confirmed EU’s commitment to supporting renewable energy in Austria and to helping the country to meet its decarbonisation targets. “This financing under the Investment Plan for Europe will lead to the construction of a 143 megawatt wind farm, which will bring clean energy to around 90,000 households in the state of Burgenland. Through projects like this, we will reach the goals of the European Green Deal and achieve climate neutrality by 2050,” he said.

The financing is supported by the European Fund for Strategic Investments, the main pillar of the Investment Plan for Europe.

The projects and agreements approved for financing under the Investment Plan so far have mobilised around €524 billion in investment, of which around €84 billion for energy-related projects.

LEAVE A REPLY

Please enter your comment!
Please enter your name here