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© Windkraft Simonsfeld AG
In Austria, the European Investment Bank (EIB) is providing financing of 63 million euros for the construction and operation of two new wind farms (Prinzendorf III; Powi V) from Windkraft Simonsfeld with a total capacity of around 43.6 MW. Erste Bank is financing the project with over 22 million euros.
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This is the second time that Windkraft Simonsfeld has benefited from the investment plan for Europe. In January 2018, a financial agreement for EUR 48 million for the construction of three new wind farms in Austria was made possible, which was also secured by the European Fund for Strategic Investments (EFSI). Vice President Andrew McDowell, responsible for the business of the EU Bank in Austria: “The promotion of a sustainable, competitive and secure energy supply is one of the key political goals and is a priority area of financing for the EU climate bank. We are therefore very pleased to be working closely with our proven partner, Windkraft Simonsfeld, on the expansion of renewable energies in Austria. The ´Prinzendorf III´ and ´Powi V ‘wind farms are clear evidence that Austria is taking the turn to renewable energies seriously. “
The turbines are operated by a project company of Windkraft Simonsfeld AG, which has been developing and operating wind farms in Austria and Bulgaria since the late 1990s. The total capacity of the plants operated by Windkraft Simonsfeld is 202.5 MW.
Erste Bank invests 22.1 million euros in wind farms
The bulk of the financing, amounting to 40.9 million euros, is made available directly to Windkraft Simonsfeld by the EIB. These funds from the EU Bank are backed by a guarantee from the European Fund for Strategic Investments, the centerpiece of the Investment Plan for Europe (the so-called Juncker Plan). In the Juncker plan, the EIB and the European Commission work together as strategic partners to increase the competitiveness of the European economy. The remaining loan funds of EUR 22.1 million come from Erste Bank and are refinanced by the EIB. 21 million euros will be brought into the financing of the wind farms as own funds of Windkraft Simonsfeld.
“Investments in renewable energies are crucial in order to achieve the goals of the ‘European Green Deal’ and to achieve climate neutrality by 2050. The renewed European support for Windkraft Simonsfeld will help to build two new wind farms that will bring thousands of additional households in Austria to clean energy, ”says EU Economic Commissioner Paolo Gentiloni.
“Financing renewable energy sources is definitely one of our strategic core areas. This is particularly important to us because in the next few years sustainable energy generation in Europe will be one of the biggest issues where we are happy to be available as a financing partner, ”said Willi Cernko, Chief Customer Officer at Erste Bank.
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