EIB funds new wind farm with €20.1m in Lower Austria

The European Investment Bank (EIB) has committed €20.1 million to finance a new wind farm in Lower Austria, developed by WEB Windenergie AG (W.E.B.).

Located in Spannberg, the project will feature 11 wind turbines, with the initial phase comprising four turbines, followed by seven more in 2027/28. The wind farm is expected to generate around 62 MW, enough to power approximately 40,000 households.

W.E.B., a leading Austrian renewable energy company with operations across seven international markets, will use turbines from European manufacturer Vestas. The total cost of the wind farm is projected at €115 million, with the EIB covering half of the initial phase expenses.

The project supports Austria’s goal of achieving complete renewable energy coverage by 2030 and aligns with the EU’s REPowerEU plan to reduce fossil fuel dependency.

EIB Vice President Thomas Östros highlighted the importance of such collaborations in advancing Europe’s energy independence. Construction started in May, with the first turbines expected online within a year.

Attribution: The European Investment Bank (EIB)

Subediting: M. S. Salama