January 24 (Renewables Now) - The European Investment Bank (EIB) is providing a loan of EUR 48 million (USD 59.4m) for three wind projects in Austria with a combined capacity of 39 MW, the lender said on Wednesday.
The financing is being allocated to project developer Windkraft Simonsfeld AG for the construction and operation of the Kreuzstetten IV, Duernkrut II and Hipples II wind farms.
The Austrian wind power producer’s subsidiary Windpark Kreuzstetten IV GmbH will get EUR 35 million in financing, extended through the European Fund for Strategic Investments (EFSI). The remaining EUR 13 million will be advanced for project financing via Austria’s Erste Bank Oesterreich.
According to previous information on EIB’s website, the total investment in the three schemes is estimated at EUR 69 million.
Windkraft Simonsfeld currently operates 168 MW of wind power assets and plans this year to add to its portfolio 39 MW of wind. Its he goal is to build an additional 18 wind power plants at home during the next four years.
(EUR 1.0 = USD 1.238)