The European Investment Bank (EIB) has issued €63 million ($70. 9 million) of finance for the development and operation of two new wind farms in Austria.

The wind vitality tasks, Prinzendorf III and Powi V, can be constructed, operated and owned by Windkraft Simonsfeld by one among its subsidiaries.

The tasks can have a complete capability of 43.6MW.

Of the €63 million in loans issued, €40.9 million ($46 million) is instantly from the EIB while €22.1 million ($24.eight million) can be supplied by Austrian monetary companies firm Erste Bank.

Windkraft Simonsfeld will put €21 million ($23.6 million) of its personal funds into financing the wind farms.

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The funding from EIB is backed by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe (the Juncker Plan).

This is the second time that the corporate advantages from the Investment Plan for Europe’s assist. In January 2018, a €48 million ($54 million) monetary settlement to construct three new wind farms with Windkraft Simonsfeld in Austria was made attainable below EFSI.

The EIB Vice-President accountable for operations in Austria, Andrew McDowell, stated: “The promotion of sustainable, aggressive and safe sources of vitality is a key coverage goal and, because the EU local weather financial institution, a precedence sector for EIB financing. We are subsequently very happy to have the ability to promote the event of renewable energies in Austria in shut cooperation with our trusted accomplice, Windkraft Simonsfeld. The Prinzendorf III and Powi V wind farms are testomony to Austria’s dedication to the renewable vitality transition.”

Paolo Gentiloni, European Commissioner for the Economy, stated: “Investing in renewable energies is essential to satisfy the targets of the European Green Deal and to achieve local weather neutrality by 2050. This new EU assist for Windkraft Simonsfeld will assist to make two new wind farms a actuality, bringing clear vitality to 1000’s extra households in Austria.”

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Windkraft Simonsfeld AG operates 84 wind generators in Austria and two in Bulgaria (as at 31/12/2019). With its headquarters in Lower Austria, Windkraft Simonsfeld generated roughly 577 million kWh of electrical energy in 2019, which is equal to the consumption of 144 400 households. In 2021, Windkraft Simonsfeld will construct 14 new wind generators on the Prinzendorf III und Powi V wind farms. The over-the-counter joint inventory firm is owned by over 2 000 shareholders.

The submit Windkraft Simonsfeld secures funding for 2 wind tasks in Austria appeared first on Power Engineering International.

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