The European Investment Bank (EIB) and Erste Bank Austria have provided loans to support the construction of a 45-MW wind farm (Engelhartstetten) in Lower Austria.
Loans totaling EUR 79.2 million (USD 84.9 million) are approved by banks for the Engelhartstetten project. The European Investment Bank (EIB) contributed EUR 51.5 million (USD 55 Million), while Erste Bank provided EUR 27.7 million (USD 29.6 Million). The projected overall costs for the Engelhartstetten undertaking are estimated to approach EUR 90 million (USD 96 Million). Comprising 11 wind turbines, the wind farm, boasts a combined generating capacity of 45 MW. This output is equivalent to fulfilling the average demand of 39,000 homes and is anticipated to result in a reduction of 980 tonnes of CO2 compared to traditional electricity production methods in Austria.
A dedicated special-purpose vehicle has been established for the Engelhartstetten facility, and Vestas, a prominent European manufacturer, will supply the turbines. The construction phase for the wind farm is expected to span approximately 15 months. Grid connection is scheduled for December 2024, with commercial commissioning anticipated to commence in March 2025.
