The European Investment Bank (EIB) and Erste Bank Austria have announced the financing of a new wind farm in Engelhartstetten, Lower Austria. The project will receive a total of €79.2 million in loans, with EIB contributing €51.5 million and Erste Bank providing €27.7 million.
The wind farm, managed by WLK energy and supplied by Vestas with 11 turbines, began construction today and is expected to be operational by March 2025. The project's total cost is estimated at around €90 million. Once completed, the wind farm will generate 45 MW of power, sufficient to supply about 39,000 homes, significantly reducing CO2 emissions in the process.
The wind farm marks a significant step in Austria's green energy transition, being the first EIB project to benefit from credit subsidies under the Austrian Renewable Energy Expansion Act. The project is also part of the REPowerEU programme, an initiative aimed at accelerating renewable energy projects across Europe.
The commitment to this project has been echoed by key stakeholders including EIB Vice-President Thomas Östros, Erste Bank Austria CEO Gerda Holzinger-Burgstaller, WLK energy's Managing Director Mario Wohanka, and Deputy governor of Lower Austria Stephan Pernkopf.
WLK energy has secured a long-term electricity supply agreement with Lenzing AG and Messer Austria for this project. Lenzing AG has set ambitious sustainability goals, aiming to halve its CO2 emissions per tonne of fibres by 2030 and become carbon-neutral by 2050.
This investment follows the federal state of Lower Austria's energy transition acceleration package implemented in 2022 to fast-track renewable energy projects. The grid connection for this wind farm is scheduled for December 2024, with commercial commissioning by March 2025.
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