EIB and Erste Bank sign financing of wind farm in Austria

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EIB and Erste Bank sign financing of wind farm in Austria

The European Investment Bank (EIB) and Erste Bank will finance the Hof/Seibersdorf wind farm project in Austria.

The project has already received  €40 million (US$45.2 million) from European Fund for Strategic Investments (EFSI) while its local financial partner Erste Bank, is providing €20.4 million (US$23.2 million), the wind farm project is now expected to be completed by the end of the year.

A total of 12 wind turbines, each with a capacity of 3 MW, are being installed on the two sites at an overall cost of €70 million (US$79.5 million). These wind power installations will generate sufficient climate-friendly electricity per year for 27 000 homes. The type of turbine selected is a further innovation for Austria: the Enercon E-115 is being used on these sites for the first time in the country.

CEO of Energiepark Bruck/Leitha GmbH Michael Hannesschläger,said:

"Being the only Austrian company so far to enjoy the support of the EFSI Fund makes us proud, and this confirms once again that Energiepark Bruck/Leitha deserves its reputation as a pioneer.”

Ambroise Fayolle, EIB Vice-President responsible for Austria, said:

"The promotion of a sustainable, competitive and secure energy supply is a key EU policy objective and an important area of lending activity for the European Investment Bank. We are very pleased to be able to promote the development of renewable energies in Austria in close - and already successful - cooperation with our Austrian partners. We are doing this with the aid of the EFSI guarantee facility, set up from the EU budget and the EIB’s own resources, and managed by the Bank. The Hof/Seibersdorf wind farm project is a further clear sign that Austria takes climate and environmental protection very seriously,”

Thomas Uher, Chairman of Erste Bank's Board of Directors added:

“In Europe, there is a clear orientation towards renewable energies. We want to support this pro-actively. By financing this wind farm, Erste Bank is contributing to the energy transition.”

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