The European Investment Bank (EIB) signs contracts for the largest green energy financing it has ever participated in in Austria. The EIB, together with major Austrian banks (UniCredit Bank Austria, Raiffeisen Bank International, Erste Bank, Wiener Städtische) and European financial institutions (LBBW, Talanx Group), supports the largest portfolio for the construction of solar and wind power plants in Austria with a loan of 250 million euros. This is the largest green energy financing the EIB has ever participated in in Austria.

Burgenland Energie, Austria's largest wind and photovoltaic company, has developed a portfolio of wind and photovoltaic projects in the Burgenland region, which includes solar and wind generation capacities of around 2,000 MW by 2030. This corresponds to approximately 20% of Austria’s currently installed solar and wind capacity.

The projects will be distributed throughout Burgenland, from north to south, to make the entire region energy-independent and secure in the long term. Burgenland is one of the windiest and sunniest federal states in Austria. Thanks to its regional wind and solar energy resources, Burgenland will become one of the first regions in the world to be climate-neutral and energy-independent by 2030.

According to EIB information, the developed wind and photovoltaic project portfolio, presented today, is expected to involve an investment of around 200 million euros in equity and about 500 million euros in debt in the first phase until the end of 2026. A classic and state-of-the-art project financing structure has been chosen, specially structured as portfolio financing, which is a European leader in how the expansion of renewable energies can be successfully financed. This financing is without liability from the owners, where the repayment of the loaned funds will only be made through future cash flow.

The foundation of this financing is the strategic partnership with the federal state of Burgenland, which is incorporated into the subsidiary under the "Project Tomorrow" framework and is its majority shareholder. The project benefits from risk distribution under the EU’s InvestEU program. It also supports the EU's REPowerEU plan, which aims to reduce Europe's dependence on fossil fuels as quickly as possible. The EIB Group will contribute an additional 45 billion euros to REPowerEU by 2027. By the end of 2023, the bank had already financed 21 billion euros under the plan.

EIB Vice President Thomas Östros stated, “Solar and wind energy are cornerstones of the energy transition. Large-scale projects like this are a great example and demonstrate that we can improve the energy supply for regions, countries, and even an entire continent in a remarkably short time.”

For his part, Governor Hans Peter Doskozil stated, "The state of Burgenland is joining Burgenland Energie's subsidiary as a strategic partner. This project company will implement Austria's largest expansion in the wind and photovoltaic sector, with a capacity of up to 2,000 MW. The revenues from this expansion will be used to finance the Gols Clinic. With the ‘Project Tomorrow,’ we are taking an important step toward climate neutrality, energy independence, and urban security for the local population and businesses of Burgenland. At the same time, the expansion will reduce the risk of power outages or heating supply failures. That is why it is very important for Burgenland to emphasize that energy security should not be in the hands of private companies but must be guaranteed by the public sector in the sense of public services."