Austria’s windpower sector is continuing to grow. The European Investment Bank (EIB) is granting the company ImWind a EUR 140 million loan to build new turbines in Burgenland and Lower Austria. The first loan agreements were signed recently in Vienna and Luxembourg.
A total of 45 new wind turbines with an overall capacity of 131 MW will be built in Großhofen (Lower Austria) and Nickelsdorf, Mönchhof and Halbturn Süd (Burgenland). The project owner, ImWind, will be responsible for both the construction and operation of the turbines.
The loan will be channelled through Raiffeisenlandesbank Niederösterreich-Wien and will cover up to 60% of the total project costs. Although EIB loans can generally finance a maximum of 50% of overall investment costs, exceptions are made for renewable energy projects. These are a top priority for the Bank and attracted EIB loans worth EUR 5.6 billion in the past year alone, compared to EUR 400 million in 2006.
At the signing ceremony, EIB Vice-President Wilhelm Molterer said: “Austria is forging ahead with renewable energy production. As today’s agreement makes clear, the country has its 2020 energy targets firmly in sight. The EIB is supporting this endeavour with the aim of creating a secure, sustainable and climate-friendly energy supply in Europe.”
In the words of the ImWind Group’s founder and managing partner, Johannes Trauttmansdorff: “In these times of economic turmoil, this EIB loan provides us with much-needed assurance that we will be able to successfully implement our projects. It gives a signalling effect and confirms that our projects meet international standards.”