Investment campaign for Europe: EIB finances Austrian wind farms from Windkraft Simonsfeld

26.06.2020

EU climate bank (EIB) provides 63 million euros nFunding largely secured by guarantee from investment plan nFirst bank finances new wind farms with over 22 million nThe European Investment Bank (EIB) provides financing in Austria in the amount of 63 million euros for the construction and operation of two new wind farms (Prinzendorf III; Powi V) from Windkraft Simonsfeld with a total capacity of around 43.6 MW. The plants are operated by a project company of Windkraft Simonsfeld AG, which has been successfully developing and operating wind farms in Austria and Bulgaria since the late 1990s. The total capacity of the plants operated by Windkraft Simonsfeld is 202.5 MW.

The bulk of the financing, amounting to 40.9 million euros, is made available directly to Windkraft Simonsfeld by the EIB. These funds from the EU Bank are backed by a guarantee from the European Fund for Strategic Investments (EFSI), the centerpiece of the Investment Plan for Europe (the Juncker Plan). In the Juncker plan, the EIB and the European Commission work together as strategic partners to increase the competitiveness of the European economy. The remaining loan funds of EUR 22.1 million come from Erste Bank and are refinanced by the EIB. 21 million euros will be brought into the financing of the wind farms as own funds of Windkraft Simonsfeld.

This is the second time that Windkraft Simonsfeld has benefited from the investment plan for Europe. In January 2018, a financial agreement for EUR 48 million for the construction of three new wind farms in Austria was made possible, which was also secured by EFSI.

Vice President Andrew McDowell, responsible for the business of the EU Bank in Austria, said: “The promotion of sustainable, competitive and secure energy supply is one of the key political objectives and is a priority area of ​​financing for the EU climate bank. We are therefore very pleased to be working closely with our proven partner, Windkraft Simonsfeld, on the expansion of renewable energies in Austria. The ´Prinzendorf III´ and ´Powi V ‘wind farms are clear evidence that Austria is taking the turn to renewable energies seriously. ”

EU Economic Commissioner Paolo Gentiloni emphasized: “Investments in renewable energies are crucial to achieve the goals of the ‘European Green Deal’ and to create climate neutrality by 2050. The renewed European support for Windkraft Simonsfeld will help to build two new wind farms that will bring thousands of additional households in Austria to clean energy. ”

“As an EU climate bank, the EIB is clearly committed to the Paris climate goals and the consistent expansion of a renewable and sustainable energy supply. Since we also choose our financing partners in terms of “green financing” from an ecological and ethical point of view, we decided – as was the case two years ago – to obtain financing from the EIB again. We are happy to have a partner with whom we are committed to a renewable energy transition and to combat the impending climate catastrophe, ”said Alexander Hochauer, Commercial Director of Windkraft Simonsfeld AG.

Willi Cernko, Chief Executive Officer of Erste Bank: “Financing renewable energy sources is definitely one of our strategic core areas. This is particularly important to us because in the next few years sustainable energy generation in Europe will be one of the biggest issues where we are happy to be available as a financing partner. ”

Second: background information

Zwtl .: The EIB

The European Investment Bank (EIB) is the institution of the European Union for long-term financing. Its shareholders are the EU member states. It provides long-term funding for solid projects that meet the EU’s goals.

Second: Windkraft Simonsfeld AG

As of December 31, 2019, Windkraft Simonsfeld AG operates 84 wind turbines in Austria and two in Bulgaria. In 2019 the wind power company Simonsfeld in Lower Austria produced approx. 577 million kWh. This corresponds to the consumption of 144,400 households. In 2021, Windkraft Simonsfeld will build 14 new wind turbines in the Prinzendorf III and Powi V wind farms. The over-the-counter joint-stock company is owned by more than 2,000 shareholders. www.wksimonsfeld.at

First: Erste Bank

Erste Bank and Sparkassen are among Austria’s largest providers of financial services. Around 15,500 employees serve over 3.8 million customers in almost 1,100 branches and bank branches. In 2019, Erste Bank and Sparkassen more than 28,700 people fulfilled their dream of owning their own four walls, paid interest of EUR 292 million to domestic savers and helped more than 22,100 young entrepreneurs to found and develop their company.

The investment offensive for Europe

The Investment Plan for Europe, the Juncker Plan, is one of the most important EU measures to boost investment in Europe, thereby creating jobs and promoting growth. For this purpose, existing and new funding is being used more intelligently. The EIB Group plays a central role in this investment offensive. Guarantees from the European Fund for Strategic Investments (EFSI) enable the EIB and the EIF to assume a larger part of the project risk, which makes it easier for private donors to participate in the projects. In addition to EFSI, there is also the new platform for investment advice (European Investment Advisory Hub, EIAH), which helps public and private project promoters to structure investment projects more professionally. The projects and agreements, which have so far been approved for financing with an EFSI guarantee, should mobilize investments of 486 billion euros and benefit over 1.2 million start-ups and small and medium-sized enterprises in all EU countries.

Shares on the radar:Addiko Bank, VIG, Austrian post, Warimpex, Mold, Marinomed Biotech, Immofinanz, Lenzing, Polytec, Strabag, voestalpine, FACC, Andritz, AT&S, Cleen Energy, SBO.