EIB, UniCredit Bank back 143-MW wind farm repowering in Austria

The European Investment Bank (EIB) and UniCredit Bank Austria are providing debt financing for a 143-MW wind farm repowering in Austria.

The lenders will extend a total of EUR 107.4 million (USD 128.7m) for the project promoted by family-owned Puspok Group, the EIB said on Monday. The latter is taking part in the debt funding with a direct loan of EUR 71.6 million and an intermediated loan to UniCredit Bank Austria totalling EUR 35.8 million.

The specific project, located in the municipalities of Gols and Monchhof in Burgenland, is currently under construction and is expected to be completed at the end of next year. Once repowered, the 26-turbine wind farm will have a capacity of 143 MW and will be capable of generating electricity to supply about 90,000 households.

The EIB’s share of financing is backed by guarantee from European Fund for Strategic Investments (EFSI). European Commissioner for the Economy, Paolo Gentiloni, noted that projects like this will help Austria meet its decarbonisation targets and in turn will contribute to the European Green Deal commitment for achieving climate neutrality by 2050.

(EUR 1.0 = USD 1.198)

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