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Publish Date : 11-Jun-2018

The European Investment Bank (EIB) is lending Energiepark Bruck/Leitha a total of 19.3 million to carry out its Bruckneudorf and Hflein West wind farm projects. The two sites will have a joint capacity of 17 MW (6.5 MW for Bruckneudorf and10.5 MW for Hflein West). Erste Bank is also participating in the 27.3 million financing plan.

The EU banks loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI). EFSI is an essential pillar of the Investment Plan for Europe (IPE) also known as the Juncker Plan under which the EIB and the European Commission are working together as strategic partners and the EIBs financing operations are boosting the competitiveness of the European economy.

"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 with EU budgetary funds and the EIBs own resources and managed by the Bank. The Bruckneudorf and Hflein West wind farm projects send a further clear signal that Austria takes climate action and environmental protection very seriously, said the EIB Vice-President responsible for Austria, Andrew McDowell.

Energiepark Bruck Director Michael Hannesschlger welcomed the successful completion of the financing plan: Following our good experience with our previous wind farm project, it was clear that Energiepark Bruck/Leitha would again seek EFSI financing. We are therefore delighted that we have once again been able to obtain an attractive financing package.

We have been financing Energiepark Bruck an der Leitha for several years now because we believe in the future of wind power, said Stefan Drfler, Chairman and CEO of Erste Bank Oesterreich. This is already the third joint operation with the European Investment Bank in which we are providing substantial cofinancing for the future of clean energy generation in Austria.

Commission Vice-President Jyrki Katainen added: "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 cofinanced by the private sector in the form of Erste Bank."

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