The European Investment Bank (EIB) is providing €63 million ($70 million) in financing for the construction and operation of two new wind farms in Austria.
Known as Prinzendorf III and Powi V, the wind farms have a total capacity of approximately 43.6 megawatts. The facilities will be operated by a project company belonging to Windkraft Simonsfeld AG, which currently operates 202.5 megawatts of wind farm capacity in Austria and Bulgaria.
The majority of the EIB financing, or €40.9 million ($45 million), will go directly to Windkraft Simonsfeld. The remaining loan amount of €22.1 million ($24 million) will be provided by Erste Bank and guaranteed by the EIB.
“The promotion of sustainable, competitive and secure sources of energy is a key policy objective and, as the E.U. climate bank, a priority sector for EIB financing,” said Andrew McDowell, the EIB vice president responsible for operations in Austria. “The Prinzendorf III and Powi V wind farms are
