EIB to support construction of 62-MW wind farm in Austria

The European Investment Bank (EIB) will provide an initial loan of EUR 20.1 million (USD 22.1m) to cover half of the capital needed for the first construction phase of a new 62-MW wind farm that is being built by WEB Windenergie AG in Lower Austria.

The first phase of the project located in the municipality of Spannberg will see the installation of four wind turbines to be supplied by Vestas, a press statement says.

Construction works at the Spannberg site started in May. The first four turbines are expected to be connected to the grid within a year.

The overall project is planned to comprise 11 turbines and is estimated at EUR 115 million. Once fully commissioned, which is expected in 2027-2028, the site will be capable of generating enough electricity to power about 40,000 homes.

The financing of the second phase of the project could also be backed by the EIB.

(EUR 1 = USD 1.103)

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